Sumitomo Life Insurance Co. Purchases 3,350 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Sumitomo Life Insurance Co. lifted its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 26.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,893 shares of the company’s stock after purchasing an additional 3,350 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Howmet Aerospace were worth $1,593,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in HWM. Cultivar Capital Inc. bought a new position in Howmet Aerospace during the second quarter worth about $26,000. LGT Financial Advisors LLC increased its stake in Howmet Aerospace by 278.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after purchasing an additional 262 shares in the last quarter. Rothschild Investment LLC bought a new stake in Howmet Aerospace during the 2nd quarter worth approximately $32,000. Versant Capital Management Inc lifted its stake in Howmet Aerospace by 1,209.1% in the second quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock valued at $34,000 after buying an additional 399 shares in the last quarter. Finally, Whittier Trust Co. boosted its holdings in shares of Howmet Aerospace by 81.4% in the first quarter. Whittier Trust Co. now owns 508 shares of the company’s stock valued at $35,000 after buying an additional 228 shares during the period. Institutional investors and hedge funds own 90.46% of the company’s stock.

Analyst Ratings Changes

HWM has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Robert W. Baird raised their price target on Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. BTIG Research boosted their price target on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Truist Financial increased their price objective on Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.63.

Howmet Aerospace Stock Performance

Shares of HWM stock opened at $105.31 on Thursday. Howmet Aerospace Inc. has a 52 week low of $42.94 and a 52 week high of $105.45. The company has a market capitalization of $42.99 billion, a price-to-earnings ratio of 50.87, a PEG ratio of 1.51 and a beta of 1.46. The company has a 50-day simple moving average of $97.42 and a 200 day simple moving average of $84.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data 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 company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts predict that Howmet Aerospace Inc. will post 2.59 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.30%. Howmet Aerospace’s payout ratio is 15.46%.

Insider Transactions at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the transaction, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of the transaction, the chief financial officer now owns 155,135 shares of the company’s stock, valued at $14,982,938.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.

About Howmet Aerospace

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.