Handelsinvest Investeringsforvaltning Reduces Position in Howmet Aerospace Inc. (NYSE:HWM)

Handelsinvest Investeringsforvaltning trimmed its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 15.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,566 shares of the company’s stock after selling 3,716 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Howmet Aerospace were worth $1,407,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in HWM. Norges Bank purchased a new stake in shares of Howmet Aerospace during the fourth quarter worth approximately $508,006,000. JPMorgan Chase & Co. grew its stake in Howmet Aerospace by 118.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,239,071 shares of the company’s stock valued at $612,307,000 after acquiring an additional 7,184,620 shares in the last quarter. Vanguard Group Inc. lifted its stake in Howmet Aerospace by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock worth $2,448,804,000 after purchasing an additional 1,274,974 shares in the last quarter. Capital World Investors grew its position in shares of Howmet Aerospace by 41.3% in the fourth quarter. Capital World Investors now owns 3,507,255 shares of the company’s stock valued at $189,813,000 after purchasing an additional 1,025,102 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Howmet Aerospace in the fourth quarter valued at approximately $40,508,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Neil Edward Marchuk sold 32,614 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $84.26, for a total value of $2,748,055.64. Following the sale, the executive vice president now directly owns 217,687 shares of the company’s stock, valued at $18,342,306.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.12% of the stock is owned by corporate insiders.

Howmet Aerospace Stock Down 0.1 %

HWM opened at $78.01 on Wednesday. Howmet Aerospace Inc. has a 52 week low of $42.94 and a 52 week high of $85.52. The firm has a market cap of $31.84 billion, a P/E ratio of 37.72, a PEG ratio of 1.43 and a beta of 1.46. The business’s fifty day simple moving average is $79.75 and its 200 day simple moving average is $67.66. The company has a quick ratio of 0.92, a current ratio of 1.97 and a debt-to-equity ratio of 0.86.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.74 billion. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 earnings per share. As a group, equities research analysts anticipate that Howmet Aerospace Inc. will post 2.39 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Friday, May 10th were paid a $0.05 dividend. The ex-dividend date was Thursday, May 9th. This represents a $0.20 annualized dividend and a yield of 0.26%. Howmet Aerospace’s payout ratio is currently 9.66%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HWM. Barclays raised their target price on Howmet Aerospace from $65.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Argus increased their price objective on shares of Howmet Aerospace from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Northcoast Research reaffirmed a “sell” rating and set a $70.00 price objective on shares of Howmet Aerospace in a research report on Friday, June 14th. Truist Financial increased their target price on Howmet Aerospace from $74.00 to $88.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Robert W. Baird lifted their price target on Howmet Aerospace from $74.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.88.

Howmet Aerospace Profile

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.