CIBC Asset Management Inc Purchases 6,587 Shares of Howmet Aerospace Inc. (NYSE:HWM)

CIBC Asset Management Inc lifted its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 12.4% during the third quarter, Holdings Channel.com reports. The firm owned 59,541 shares of the company’s stock after buying an additional 6,587 shares during the period. CIBC Asset Management Inc’s holdings in Howmet Aerospace were worth $5,969,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hollencrest Capital Management acquired a new position in shares of Howmet Aerospace during the third quarter worth approximately $30,000. Cultivar Capital Inc. acquired a new position in shares of Howmet Aerospace during the second quarter worth approximately $26,000. LGT Financial Advisors LLC lifted its position in shares of Howmet Aerospace by 278.7% during the second 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 acquired a new position in shares of Howmet Aerospace during the second quarter worth approximately $32,000. Finally, Versant Capital Management Inc lifted its position in shares of Howmet Aerospace by 1,209.1% during the second quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock worth $34,000 after purchasing an additional 399 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Stock Down 1.1 %

Shares of HWM stock opened at $112.01 on Monday. The firm has a fifty day moving average of $102.37 and a 200-day moving average of $91.29. The company has a quick ratio of 0.98, a current ratio of 2.24 and a debt-to-equity ratio of 0.76. Howmet Aerospace Inc. has a 12-month low of $51.22 and a 12-month high of $116.74. The company has a market capitalization of $45.51 billion, a price-to-earnings ratio of 42.75, a P/E/G ratio of 1.50 and a beta of 1.46.

Howmet Aerospace Dividend Announcement

The business also recently disclosed 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. This represents a $0.32 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Friday, November 8th. Howmet Aerospace’s dividend payout ratio is 12.21%.

Insider Transactions at Howmet Aerospace

In related news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 directly owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This represents a 49.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 92,687 shares in the company, valued at $8,985,077.78. This trade represents a 43.25 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HWM shares. KeyCorp lowered shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Susquehanna increased their price objective on shares of Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a report on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. BTIG Research increased their price objective on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Howmet Aerospace presently has an average rating of “Moderate Buy” and an average price target of $115.41.

Howmet Aerospace Company 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.