Howmet Aerospace Inc. (NYSE:HWM) Plans Quarterly Dividend of $0.08

Howmet Aerospace Inc. (NYSE:HWM) announced a quarterly dividend on Wednesday, September 25th, Zacks reports. Shareholders of record on Friday, November 8th will be paid a dividend of 0.08 per share on Monday, November 25th. This represents a $0.32 annualized dividend and a yield of 0.32%. The ex-dividend date is Friday, November 8th.

Howmet Aerospace has increased its dividend payment by an average of 104.1% per year over the last three years. Howmet Aerospace has a dividend payout ratio of 10.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Howmet Aerospace to earn $3.16 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 10.1%.

Howmet Aerospace Stock Performance

Shares of NYSE:HWM opened at $99.00 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53. The firm’s 50 day simple moving average is $92.91 and its 200-day simple moving average is $81.22. The firm has a market cap of $40.41 billion, a PE ratio of 47.97, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. Howmet Aerospace has a one year low of $42.94 and a one year high of $100.62.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities analysts predict that Howmet Aerospace will post 2.59 EPS for the current year.

Insider Activity

In other news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at approximately $14,982,938.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the transaction, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on HWM shares. Benchmark raised their price objective on Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 12th. KeyCorp upped their target price on Howmet Aerospace from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Robert W. Baird upped their price target on Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Truist Financial lifted their target price on Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.67.

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.