BOCHK Asset Management Ltd Makes New Investment in Howmet Aerospace Inc. (NYSE:HWM)

BOCHK Asset Management Ltd acquired a new position in shares of Howmet Aerospace Inc. (NYSE:HWM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 2,500 shares of the company’s stock, valued at approximately $251,000.

Several other large investors have also modified their holdings of the stock. Senator Investment Group LP increased its holdings in shares of Howmet Aerospace by 24.8% in the 2nd quarter. Senator Investment Group LP now owns 156,000 shares of the company’s stock valued at $12,110,000 after acquiring an additional 31,000 shares during the period. Terra Nova Asset Management LLC acquired a new stake in shares of Howmet Aerospace during the third quarter worth about $1,264,000. Wealthspire Advisors LLC purchased a new position in shares of Howmet Aerospace during the second quarter worth about $209,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in Howmet Aerospace by 1,258.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,051 shares of the company’s stock valued at $206,000 after acquiring an additional 1,900 shares during the period. Finally, Blair William & Co. IL lifted its position in Howmet Aerospace by 51.6% during the 1st quarter. Blair William & Co. IL now owns 25,488 shares of the company’s stock worth $1,744,000 after acquiring an additional 8,676 shares during the period. Institutional investors and hedge funds own 90.46% of the company’s stock.

Insider Buying and Selling at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 92,687 shares in the company, valued at $8,985,077.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’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 value of $6,847,550.78. Following the transaction, the executive vice president now owns 92,687 shares in the company, valued at approximately $8,985,077.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This represents 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 owned by company insiders.

Howmet Aerospace Price Performance

HWM stock traded down $1.45 during trading on Thursday, hitting $101.38. The stock had a trading volume of 928,086 shares, compared to its average volume of 2,965,527. Howmet Aerospace Inc. has a 1-year low of $42.94 and a 1-year high of $106.93. The stock has a market cap of $41.38 billion, a price-to-earnings ratio of 49.68, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. The company’s 50 day moving average price is $98.58 and its two-hundred day moving average price is $86.12. 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 results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $1.83 billion. During the same period in the previous year, the firm posted $0.44 EPS. Howmet Aerospace’s revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts forecast that Howmet Aerospace Inc. will post 2.59 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have issued reports on HWM. BTIG Research boosted their price objective on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Susquehanna began coverage on shares of Howmet Aerospace in a research report on Tuesday, October 8th. They issued a “positive” rating and a $120.00 price objective for the company. KeyCorp lowered Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a report on Thursday. Truist Financial increased their target price on Howmet Aerospace from $105.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their price target on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.50.

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.