Allstate Corp Makes New $1.24 Million Investment in Howmet Aerospace Inc. (NYSE:HWM)

Allstate Corp bought a new position in Howmet Aerospace Inc. (NYSE:HWM) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 11,344 shares of the company’s stock, valued at approximately $1,241,000.

Several other institutional investors also recently modified their holdings of the business. Murphy & Mullick Capital Management Corp bought a new position in Howmet Aerospace in the 4th quarter valued at $25,000. R Squared Ltd purchased a new stake in Howmet Aerospace during the fourth quarter worth about $26,000. Washington Trust Advisors Inc. bought a new stake in Howmet Aerospace in the fourth quarter worth about $29,000. Global Trust Asset Management LLC purchased a new position in Howmet Aerospace in the fourth quarter valued at about $33,000. Finally, Hanson & Doremus Investment Management bought a new position in shares of Howmet Aerospace during the 4th quarter valued at approximately $34,000. 90.46% of the stock is owned by institutional investors.

Howmet Aerospace Price Performance

Shares of Howmet Aerospace stock opened at $129.61 on Monday. The stock has a market capitalization 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. The company has a fifty day moving average of $129.41 and a 200-day moving average of $116.04. Howmet Aerospace Inc. has a 52-week low of $62.80 and a 52-week high of $140.55. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17.

Howmet Aerospace (NYSE:HWM) last posted 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. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. Equities research analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Friday, February 7th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.31%. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.08. The ex-dividend date was Friday, February 7th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 14.18%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on HWM shares. Morgan Stanley lifted their price target on shares of Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Barclays lifted their target price on Howmet Aerospace from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. increased their price target on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Truist Financial reaffirmed a “buy” rating and set a $140.00 price objective (up previously from $130.00) on shares of Howmet Aerospace in a research note on Friday, February 14th. Finally, Wells Fargo & Company increased their price objective on Howmet Aerospace from $129.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. One 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $123.28.

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.