Resona Asset Management Co. Ltd. Takes $12.32 Million Position in Howmet Aerospace Inc. (NYSE:HWM)

Resona Asset Management Co. Ltd. bought a new position in shares of Howmet Aerospace Inc. (NYSE:HWM) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 112,351 shares of the company’s stock, valued at approximately $12,318,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Howmet Aerospace during the fourth quarter worth $25,000. Meeder Asset Management Inc. grew its stake in Howmet Aerospace by 208.1% during the 4th quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock worth $25,000 after purchasing an additional 154 shares in the last quarter. R Squared Ltd purchased a new stake in Howmet Aerospace during the 4th quarter worth about $26,000. Washington Trust Advisors Inc. acquired a new stake in Howmet Aerospace in the 4th quarter valued at about $29,000. Finally, Global Trust Asset Management LLC purchased a new position in shares of Howmet Aerospace in the 4th quarter valued at about $33,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on HWM. The Goldman Sachs Group upped their target price on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. raised their price objective on shares of Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Morgan Stanley boosted their target price on shares of Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Barclays raised their price target on Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Finally, Wells Fargo & Company upped their price target on Howmet Aerospace from $129.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.28.

Howmet Aerospace Price Performance

Shares of NYSE HWM opened at $112.32 on Monday. The stock has a fifty day moving average price of $129.39 and a 200 day moving average price of $117.16. Howmet Aerospace Inc. has a 1-year low of $62.80 and a 1-year high of $140.55. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98. The company has a market cap of $45.49 billion, a PE ratio of 39.83, a P/E/G ratio of 1.92 and a beta of 1.25.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Thursday, February 13th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.71 by $0.03. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. Sell-side analysts forecast that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date was Friday, February 7th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. Howmet Aerospace’s payout ratio is currently 14.18%.

Howmet Aerospace Profile

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.