Sheets Smith Investment Management Makes New $1.67 Million Investment in Howmet Aerospace Inc. (NYSE:HWM)

Sheets Smith Investment Management bought a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 15,230 shares of the company's stock, valued at approximately $1,666,000. Howmet Aerospace comprises about 1.4% of Sheets Smith Investment Management's investment portfolio, making the stock its 20th largest holding.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Howmet Aerospace by 8.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,711,497 shares of the company's stock valued at $1,775,578,000 after buying an additional 1,336,592 shares during the period. AustralianSuper Pty Ltd boosted its stake in Howmet Aerospace by 1,000.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 930,533 shares of the company's stock valued at $101,772,000 after acquiring an additional 845,941 shares during the period. Raymond James Financial Inc. bought a new position in shares of Howmet Aerospace during the fourth quarter valued at approximately $61,740,000. Sei Investments Co. raised its position in shares of Howmet Aerospace by 82.4% during the 4th quarter. Sei Investments Co. now owns 1,106,586 shares of the company's stock worth $121,026,000 after purchasing an additional 499,978 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Howmet Aerospace by 5.0% in the 3rd quarter. Geode Capital Management LLC now owns 9,502,223 shares of the company's stock worth $949,382,000 after purchasing an additional 453,275 shares during the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company upped their price objective on Howmet Aerospace from $129.00 to $132.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 11th. The Goldman Sachs Group boosted their price target on shares of Howmet Aerospace from $124.00 to $139.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Truist Financial reaffirmed a "buy" rating and issued a $140.00 price objective (up previously from $130.00) on shares of Howmet Aerospace in a report on Friday, February 14th. Barclays boosted their target price on shares of Howmet Aerospace from $130.00 to $140.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley boosted their price target on Howmet Aerospace from $125.00 to $155.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.28.

Howmet Aerospace Stock Down 2.1 %

HWM traded down $2.82 during trading on Friday, reaching $129.61. 1,945,000 shares of the stock traded hands, compared to its average volume of 2,747,326. The stock's 50-day simple moving average is $129.41 and its two-hundred day simple moving average is $115.73. 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 Inc. has a fifty-two week low of $62.80 and a fifty-two week high of $140.55. The stock has a market cap of $52.50 billion, a price-to-earnings ratio of 45.96, a price-to-earnings-growth ratio of 1.92 and a beta of 1.54.

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 the consensus estimate of $0.71 by $0.03. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. As a group, equities research analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Friday, February 7th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.31%. This is an increase from Howmet Aerospace's previous quarterly dividend of $0.08. The ex-dividend date was Friday, February 7th. Howmet Aerospace's payout ratio is currently 14.18%.

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.