Howmet Aerospace Impressing Analysts and Investors
Howmet Aerospace Inc. is gaining momentum in the aerospace and transportation industries, including the recent boost in its position by the Texas Permanent School Fund Corp., BestStocks.com reports.
According to the Securities and Exchange Commission (SEC) filing, Texas Permanent School Fund Corp increased its holdings in Howmet Aerospace by 46.7% during the first quarter of this year. The fund now owns 76,764 shares of the company’s stock, after acquiring an additional 24,450 shares.
Texas Permanent School Fund Corp’s holdings are valued at $3,252,000, “reflect(ing) their belief in Howmet Aerospace’s ability to generate significant returns for its shareholders,” according to BestStocks.com.
The company’s solid financial performance continue to impress analysts. In fiscal Q2, the company exceeded expectations with earnings per share (EPS) of $0.42 for the quarter. This surpassed the consensus estimate by $0.04.
“This strong performance can be attributed to several factors, including a return on equity of 18.39% and a net margin of 8.18%,” BestStocks.com reports. “Additionally, Howmet Aerospace recorded revenue of $1.60 billion during the quarter, surpassing analyst estimates of $1.49 billion.”
Analysts remain optimistic about Howmet Aerospace’s future prospects, anticipating that the company will achieve an EPS of 1.71 for the current fiscal year.
Headquartered in Pittsburgh, Howmet Aerospace’s primary businesses focus on jet engine components, aerospace fastening systems and titanium structural parts for aerospace and defense applications, as well as forged wheels for commercial transportation. Web: Howmet.com
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