Oppenheimer Asset Management Inc. Raises Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Oppenheimer Asset Management Inc. increased its position in Howmet Aerospace Inc. (NYSE:HWM) by 1.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 72,317 shares of the company’s stock after purchasing an additional 737 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Howmet Aerospace were worth $7,250,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HWM. Massmutual Trust Co. FSB ADV raised its holdings in shares of Howmet Aerospace by 6.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,944 shares of the company’s stock worth $195,000 after acquiring an additional 124 shares in the last quarter. Assetmark Inc. raised its stake in Howmet Aerospace by 40.0% during the third quarter. Assetmark Inc. now owns 441 shares of the company’s stock valued at $44,000 after purchasing an additional 126 shares in the last quarter. Cigna Investments Inc. New lifted its position in Howmet Aerospace by 3.8% during the second quarter. Cigna Investments Inc. New now owns 4,178 shares of the company’s stock valued at $324,000 after purchasing an additional 153 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of Howmet Aerospace by 3.2% in the 1st quarter. Bleakley Financial Group LLC now owns 5,080 shares of the company’s stock worth $348,000 after buying an additional 158 shares in the last quarter. Finally, HB Wealth Management LLC increased its holdings in shares of Howmet Aerospace by 4.9% in the 2nd quarter. HB Wealth Management LLC now owns 3,664 shares of the company’s stock worth $284,000 after buying an additional 171 shares during the last quarter. 90.46% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace 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 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 43.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 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 completion of the transaction, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at $14,982,938.30. This trade represents a 49.96 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. UBS Group increased their price target on shares of Howmet Aerospace from $103.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Susquehanna raised their price objective on Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a research note on Thursday, November 7th. KeyCorp downgraded Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Barclays raised their price target on Howmet Aerospace from $100.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Truist Financial boosted their price objective on shares of Howmet Aerospace from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.41.

Howmet Aerospace Stock Performance

Shares of NYSE:HWM opened at $113.25 on Friday. The firm’s 50 day simple moving average is $101.58 and its 200-day simple moving average is $90.48. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 2.24. Howmet Aerospace Inc. has a one year low of $51.22 and a one year high of $116.74. The firm has a market cap of $46.01 billion, a PE ratio of 43.23, a price-to-earnings-growth ratio of 1.54 and a beta of 1.46.

Howmet Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 12.21%.

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.