Howmet Aerospace said on January 27, 2023 that its board of directors declared a regular quarterly dividend of $0.04 per share ($0.16 annualized). Shareholders of record as of February 9, 2023 will receive the payment on February 27, 2023. Previously, the company paid $0.04 per share.

At the most recent share price of $40.40 / share, the stock’s dividend yield was 0.40%.

Additionally, the company’s dividend payout ratio is 0.15. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

Analyst Price Forecast Suggests 7.57% Upside

As of January 30, 2023, the average one-year price target for Howmet Aerospace is $43.46. The forecasts range from a low of $35.35 to a high of $50.40. The average price target represents an increase of 7.57% from its latest reported closing price of $40.40.

The projected annual revenue for Howmet Aerospace is $6,236MM, an increase of 14.74%. The projected annual EPS is $1.75, an increase of 69.35%.

Fund Sentiment

There are 1157 funds or institutions reporting positions in Howmet Aerospace. This is an increase of 55 owner(s) or 4.99%.

Average portfolio weight of all funds dedicated to US:HWM is 0.2538%, an increase of 0.4464%. Total shares owned by institutions increased in the last three months by 0.26% to 452,223K shares.

What are large shareholders doing?

Elliott Investment Management holds 36,151,051 shares representing 8.74% ownership of the company. In it’s prior filing, the firm reported owning 41,065,000 shares, representing a decrease of 13.59%. The firm decreased its portfolio allocation in HWM by 22.29% over the last quarter.

Boston Partners holds 21,112,872 shares representing 5.10% ownership of the company. In it’s prior filing, the firm reported owning 20,549,469 shares, representing an increase of 2.67%. The firm increased its portfolio allocation in HWM by 5.75% over the last quarter.

Massachusetts Financial Services holds 18,872,511 shares representing 4.56% ownership of the company. In it’s prior filing, the firm reported owning 18,888,288 shares, representing a decrease of 0.08%. The firm increased its portfolio allocation in HWM by 6.56% over the last quarter.

Orbis Allan Gray holds 13,523,251 shares representing 3.27% ownership of the company. In it’s prior filing, the firm reported owning 16,792,998 shares, representing a decrease of 24.18%. The firm decreased its portfolio allocation in HWM by 19.26% over the last quarter.

Janus Henderson Group holds 11,651,512 shares representing 2.82% ownership of the company. In it’s prior filing, the firm reported owning 10,503,680 shares, representing an increase of 9.85%. The firm increased its portfolio allocation in HWM by 18.53% over the last quarter.

Howmet Aerospace Background Information
(This description is provided by the company.)

Howmet Aerospace Inc., headquartered in Pittsburgh, Pennsylvania, is a leading global provider of advanced engineered solutions for the aerospace and transportation industries. The Company’s primary businesses focus on jet engine components, aerospace fastening systems, and titanium structural parts necessary for mission-critical performance and efficiency in aerospace and defense applications, as well as forged wheels for commercial transportation. With nearly 1,200 granted and pending patents, the Company’s differentiated technologies enable lighter, more fuel-efficient aircraft to operate with a lower carbon footprint. In 2019, the businesses of Howmet Aerospace reported annual revenue of over $7 billion.

This article originally appeared on Fintel

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.