Cresset Asset Management LLC Sells 34,231 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Cresset Asset Management LLC lessened its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 84.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,536 shares of the company's stock after selling 34,231 shares during the quarter. Cresset Asset Management LLC's holdings in Howmet Aerospace were worth $715,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Cetera Investment Advisers grew its stake in Howmet Aerospace by 13.4% during the 4th quarter. Cetera Investment Advisers now owns 72,771 shares of the company's stock valued at $7,959,000 after acquiring an additional 8,573 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in shares of Howmet Aerospace by 73.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 25,900 shares of the company's stock valued at $2,833,000 after buying an additional 11,000 shares in the last quarter. Brevan Howard Capital Management LP bought a new stake in shares of Howmet Aerospace in the 4th quarter valued at approximately $757,000. Bridgefront Capital LLC bought a new stake in shares of Howmet Aerospace in the 4th quarter valued at approximately $565,000. Finally, Captrust Financial Advisors grew its stake in shares of Howmet Aerospace by 13.3% in the 4th quarter. Captrust Financial Advisors now owns 26,956 shares of the company's stock valued at $2,948,000 after buying an additional 3,154 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company's stock.

Wall Street Analyst Weigh In

HWM has been the subject of several recent research reports. Truist Financial lowered their price target on Howmet Aerospace from $140.00 to $136.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Morgan Stanley boosted their price target on Howmet Aerospace from $125.00 to $155.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. The Goldman Sachs Group boosted their price target on Howmet Aerospace from $124.00 to $139.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. BTIG Research reissued a "buy" rating on shares of Howmet Aerospace in a research note on Monday, May 5th. Finally, Benchmark boosted their price target on Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $132.53.

Howmet Aerospace Stock Performance

Shares of HWM stock traded up $1.60 during trading hours on Friday, reaching $162.89. 1,787,433 shares of the company's stock were exchanged, compared to its average volume of 2,694,288. Howmet Aerospace Inc. has a fifty-two week low of $76.83 and a fifty-two week high of $162.91. The stock has a market capitalization of $65.75 billion, a P/E ratio of 57.76, a P/E/G ratio of 1.92 and a beta of 1.37. The business has a fifty day moving average price of $134.88 and a 200-day moving average price of $124.81. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the company earned $0.53 earnings per share. The company's quarterly revenue was up 5.5% compared to the same quarter last year. Analysts predict that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.25%. Howmet Aerospace's dividend payout ratio (DPR) is presently 13.03%.

Insider Transactions at Howmet Aerospace

In other news, VP Barbara Lou Shultz sold 1,250 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $155.17, for a total transaction of $193,962.50. Following the sale, the vice president now directly owns 23,044 shares in the company, valued at approximately $3,575,737.48. The trade was a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Neil Edward Marchuk sold 30,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $158.53, for a total value of $4,755,900.00. Following the sale, the executive vice president now owns 131,859 shares in the company, valued at approximately $20,903,607.27. This represents a 18.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 831,250 shares of company stock worth $130,517,863 over the last three months. 1.12% of the stock is currently owned by insiders.

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.