Legacy Capital Group California Inc. Makes New Investment in Howmet Aerospace Inc. (NYSE:HWM)

Legacy Capital Group California Inc. purchased a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 8,481 shares of the company's stock, valued at approximately $928,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of HWM. R Squared Ltd bought a new stake in Howmet Aerospace during the fourth quarter valued at $26,000. RiverPark Advisors LLC purchased a new stake in shares of Howmet Aerospace in the 3rd quarter valued at about $26,000. Hollencrest Capital Management bought a new stake in shares of Howmet Aerospace during the 3rd quarter valued at about $30,000. Global Trust Asset Management LLC purchased a new position in shares of Howmet Aerospace during the fourth quarter worth about $33,000. Finally, Hanson & Doremus Investment Management bought a new position in shares of Howmet Aerospace in the fourth quarter worth approximately $34,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Trading Down 6.2 %

HWM traded down $8.61 during trading on Friday, hitting $129.83. 3,517,780 shares of the stock traded hands, compared to its average volume of 2,751,625. The firm has a 50-day moving average of $121.18 and a 200 day moving average of $109.59. Howmet Aerospace Inc. has a 12-month low of $62.80 and a 12-month high of $140.55. The firm has a market capitalization of $52.58 billion, a P/E ratio of 46.04, a price-to-earnings-growth ratio of 1.94 and a beta of 1.50. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.03. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. Equities research analysts anticipate that Howmet Aerospace Inc. will post 3.26 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Investors of record on Friday, February 7th will be paid a $0.10 dividend. This is a positive change from Howmet Aerospace's previous quarterly dividend of $0.08. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.40 dividend on an annualized basis and a yield of 0.31%. Howmet Aerospace's dividend payout ratio (DPR) is presently 14.18%.

Analyst Ratings Changes

Several brokerages have issued reports on HWM. The Goldman Sachs Group lifted their target price on shares of Howmet Aerospace from $124.00 to $139.00 and gave the company a "buy" rating in a research report on Tuesday. Bank of America lifted their price objective on shares of Howmet Aerospace from $100.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. increased their target price on Howmet Aerospace from $125.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday, February 14th. Royal Bank of Canada raised their price target on Howmet Aerospace from $105.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Finally, Robert W. Baird upped their price objective on Howmet Aerospace from $113.00 to $144.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $123.28.

Howmet Aerospace Company 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.