Los Angeles Capital Management LLC Decreases Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Los Angeles Capital Management LLC reduced its stake in Howmet Aerospace Inc. (NYSE:HWM) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,227,754 shares of the company’s stock after selling 45,536 shares during the period. Los Angeles Capital Management LLC’s holdings in Howmet Aerospace were worth $95,311,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in HWM. Savant Capital LLC raised its holdings in shares of Howmet Aerospace by 3.1% during the 2nd quarter. Savant Capital LLC now owns 24,455 shares of the company’s stock valued at $1,898,000 after buying an additional 727 shares during the period. Defined Wealth Management LLC acquired a new stake in shares of Howmet Aerospace during the second quarter worth approximately $219,000. LGT Financial Advisors LLC raised its stake in shares of Howmet Aerospace by 278.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock valued at $28,000 after purchasing an additional 262 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Howmet Aerospace by 21.3% in the 2nd quarter. National Bank of Canada FI now owns 108,576 shares of the company’s stock valued at $8,393,000 after acquiring an additional 19,058 shares during the last quarter. Finally, Chase Investment Counsel Corp boosted its holdings in Howmet Aerospace by 4.6% in the second quarter. Chase Investment Counsel Corp now owns 51,945 shares of the company’s stock worth $4,032,000 after purchasing an additional 2,269 shares during the period. 90.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HWM has been the subject of a number of research reports. Northcoast Research restated a “sell” rating and issued a $70.00 target price on shares of Howmet Aerospace in a research note on Friday, June 14th. Royal Bank of Canada raised their target price on Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. KeyCorp boosted their price target on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Benchmark increased their price objective on shares of Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, Truist Financial boosted their target price on shares of Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.67.

Howmet Aerospace Price Performance

Shares of HWM traded down $2.77 during midday trading on Friday, reaching $91.44. The stock had a trading volume of 4,136,985 shares, compared to its average volume of 3,136,961. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74. The company has a market capitalization of $37.32 billion, a P/E ratio of 44.19, a P/E/G ratio of 1.44 and a beta of 1.46. The firm’s 50 day moving average price is $88.17 and its 200-day moving average price is $78.34. Howmet Aerospace Inc. has a 52 week low of $42.94 and a 52 week high of $98.15.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the company earned $0.44 earnings per share. Howmet Aerospace’s revenue was up 14.1% compared to the same quarter last year. On average, analysts forecast that Howmet Aerospace Inc. will post 2.59 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. This represents a $0.32 annualized dividend and a yield of 0.35%. Howmet Aerospace’s dividend payout ratio is currently 15.46%.

Insider Buying and Selling

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total value of $14,961,111.22. Following the transaction, the chief financial officer now owns 155,135 shares in the company, valued at $14,982,938.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the transaction, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.

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.