Franklin Resources Inc. Buys 209,492 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Franklin Resources Inc. grew its stake in Howmet Aerospace Inc. (NYSE:HWM) by 58.0% in the 3rd quarter, Holdings Channel reports. The firm owned 570,476 shares of the company’s stock after purchasing an additional 209,492 shares during the period. Franklin Resources Inc.’s holdings in Howmet Aerospace were worth $58,559,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Senator Investment Group LP raised its stake in Howmet Aerospace by 24.8% in the second quarter. Senator Investment Group LP now owns 156,000 shares of the company’s stock worth $12,110,000 after buying an additional 31,000 shares in the last quarter. Terra Nova Asset Management LLC bought a new position in shares of Howmet Aerospace in the 3rd quarter worth approximately $1,264,000. Stifel Financial Corp lifted its stake in shares of Howmet Aerospace by 12.1% in the 3rd quarter. Stifel Financial Corp now owns 263,830 shares of the company’s stock valued at $26,450,000 after purchasing an additional 28,568 shares during the period. Wealthspire Advisors LLC purchased a new position in shares of Howmet Aerospace in the 2nd quarter valued at approximately $209,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Howmet Aerospace by 1,258.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,051 shares of the company’s stock valued at $206,000 after purchasing an additional 1,900 shares in the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HWM has been the subject of several recent research reports. Robert W. Baird raised their price objective on Howmet Aerospace from $113.00 to $144.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. KeyCorp cut shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Truist Financial upped their price objective on shares of Howmet Aerospace from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their target price on shares of Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Susquehanna upped their price target on Howmet Aerospace from $120.00 to $132.00 and gave the stock a “positive” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.59.

Howmet Aerospace Price Performance

NYSE HWM opened at $113.28 on Tuesday. Howmet Aerospace Inc. has a one year low of $52.56 and a one year high of $120.71. The stock has a 50-day moving average of $110.24 and a 200 day moving average of $96.36. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 2.24. The company has a market capitalization of $46.02 billion, a price-to-earnings ratio of 43.24, a PEG ratio of 1.56 and a beta of 1.48.

Howmet Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 8th were paid a $0.08 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. Howmet Aerospace’s dividend payout ratio is presently 12.21%.

About Howmet Aerospace

Howmet Aerospace Inc provides advanced engineered solutions for the aerospace and transportation industries in the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, China, and internationally. It operates through four segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels.