Bank of Nova Scotia Has $16.29 Million Position in Howmet Aerospace Inc. (NYSE:HWM)

by · The Cerbat Gem

Bank of Nova Scotia grew its stake in Howmet Aerospace Inc. (NYSE:HWM – Free Report) by 190.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 148,948 shares of the company’s stock after buying an additional 97,702 shares during the period. Bank of Nova Scotia’s holdings in Howmet Aerospace were worth $16,290,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new stake in Howmet Aerospace during the fourth quarter worth approximately $25,000. Meeder Asset Management Inc. grew its position in shares of 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 buying an additional 154 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Howmet Aerospace in the 4th quarter valued at $25,000. R Squared Ltd acquired a new position in shares of Howmet Aerospace during the 4th quarter valued at $26,000. Finally, Washington Trust Advisors Inc. acquired a new stake in Howmet Aerospace in the fourth quarter worth $29,000. Institutional investors own 90.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on HWM shares. The Goldman Sachs Group increased their price objective on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Wells Fargo & Company reduced their price objective on Howmet Aerospace from $146.00 to $132.00 and set an “overweight” rating for the company in a research note on Tuesday. Northcoast Research raised Howmet Aerospace from a “sell” rating to a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Finally, Morgan Stanley boosted their price target on shares of Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.28.

View Our Latest Report on HWM

Howmet Aerospace Price Performance

Shares of HWM opened at $124.25 on Friday. Howmet Aerospace Inc. has a twelve month low of $62.80 and a twelve month high of $140.55. The company has a market capitalization of $50.32 billion, a P/E ratio of 44.06, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The firm has a 50 day moving average of $128.80 and a 200 day moving average of $117.84. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74.

Howmet Aerospace (NYSE:HWM – Get Free Report) last posted its 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 for 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%. As a group, equities research analysts anticipate that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Friday, May 9th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, May 9th. Howmet Aerospace’s payout ratio is 14.18%.

Howmet Aerospace Profile

(Free Report)

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.

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