Integrated Quantitative Investments Acquires $1.27 Million Stake in Howmet Aerospace

Integrated Quantitative Investments LLC has made a significant move by acquiring a new stake in Howmet Aerospace Inc. (NYSE:HWM) valued at approximately $1.27 million. This investment, consisting of 6,819 shares, was disclosed in the firm’s recent Form 13F filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also adjusted their positions in Howmet Aerospace. Notably, Pinpoint Asset Management Ltd increased its stake by 42.8% in the first quarter, bringing its total to 237 shares valued at $31,000. Similarly, Atlantic Union Bankshares Corp entered a new position in the second quarter valued at about $32,000. Other firms, including Hemington Wealth Management and Rise Advisors LLC, also boosted their holdings, reflecting growing confidence in the aerospace company. Currently, approximately 90.46% of the stock is held by institutional investors.

In terms of analyst coverage, several research firms have provided updates on Howmet Aerospace. Vertical Research reaffirmed a “buy” rating for the company, while Bank of America raised its target price from $215.00 to $250.00 in a recent report. Other firms, including Truist Financial and TD Cowen, have also increased their price targets, indicating a bullish outlook on the stock. As it stands, the consensus rating is categorized as “Moderate Buy,” with an average target price of $215.29 according to MarketBeat.com.

Stock Performance and Financial Results

Howmet Aerospace’s stock opened at $203.00 on the New York Stock Exchange on October 30, 2023. The company boasts a market capitalization of $81.62 billion and has a price-to-earnings (P/E) ratio of 59.36. Over the past year, the stock has fluctuated between a low of $105.04 and a high of $211.95. The firm recently reported quarterly earnings, posting an earnings per share (EPS) of $0.95, surpassing the consensus estimate of $0.91 by $0.04. Revenue for the quarter reached $2.09 billion, exceeding the expected $2.04 billion and reflecting a year-on-year increase of 13.8%.

Howmet Aerospace has also provided guidance for fiscal year 2025, projecting an EPS range of 3.660-3.680 and a fourth-quarter guidance of 0.940-0.960 EPS. Analysts predict the company will post an average EPS of 3.27 for the current year.

Dividend Announcement

In addition to its robust performance, Howmet Aerospace recently declared a quarterly dividend of $0.12 per share, scheduled for payment on November 25, 2023. Investors on record as of November 7, 2023 will receive this dividend, marking an annualized yield of 0.2%. The company’s dividend payout ratio is currently 13.48%, indicating a sustainable approach to shareholder returns.

Howmet Aerospace operates across various segments, including Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels, serving clients in regions such as the United States, Europe, and Asia. This diversified portfolio positions the company well in the competitive aerospace and transportation industries.

As the market continues to evolve, the actions of institutional investors and the performance of Howmet Aerospace will be closely monitored by analysts and investors alike.