Maxi Investments CY Ltd Makes New Investment in Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Maxi Investments CY Ltd has acquired a new position in Howmet Aerospace Inc., purchasing 32,300 shares valued at approximately $4,190,000 during the first quarter.
• CEO John C. Plant sold 800,000 shares of Howmet Aerospace at an average price of $156.96, significantly reducing their ownership by 77.18%.
• Howmet Aerospace announced a quarterly dividend increase to $0.12 per share, effective August 25th, elevating its annualized dividend yield to 0.3%.

Maxi Investments CY Ltd acquired a new position in Howmet Aerospace Inc. (NYSE:HWM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 32,300 shares of the company's stock, valued at approximately $4,190,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Aster Capital Management DIFC Ltd bought a new position in Howmet Aerospace in the 4th quarter worth $25,000. Kapitalo Investimentos Ltda bought a new stake in shares of Howmet Aerospace during the 4th quarter worth approximately $30,000. GPS Wealth Strategies Group LLC increased its stake in Howmet Aerospace by 114.6% in the first quarter. GPS Wealth Strategies Group LLC now owns 264 shares of the company's stock worth $34,000 after purchasing an additional 141 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Howmet Aerospace during the first quarter valued at approximately $37,000. Finally, Wood Tarver Financial Group LLC bought a new stake in shares of Howmet Aerospace in the fourth quarter valued at about $39,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HWM. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Howmet Aerospace in a research report on Monday, June 30th. BTIG Research set a $205.00 price target on shares of Howmet Aerospace and gave the stock a "buy" rating in a research note on Monday. Vertical Research reaffirmed a "buy" rating on shares of Howmet Aerospace in a research note on Thursday, July 31st. Barclays reaffirmed an "overweight" rating and issued a $190.00 price target (up previously from $140.00) on shares of Howmet Aerospace in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Howmet Aerospace from $150.00 to $190.00 and gave the stock an "overweight" rating in a report on Monday. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $172.13.

Insider Buying and Selling at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 30,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the transaction, the executive vice president owned 131,859 shares in the company, valued at approximately $20,903,607.27. This trade represents a 18.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John C. Plant sold 800,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $156.96, for a total value of $125,568,000.00. Following the transaction, the chief executive officer owned 236,544 shares in the company, valued at approximately $37,127,946.24. This trade represents a 77.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by insiders.

Howmet Aerospace Stock Down 0.5%

NYSE:HWM traded down $0.91 during mid-day trading on Friday, reaching $180.67. The stock had a trading volume of 1,588,243 shares, compared to its average volume of 3,076,320. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.31 and a quick ratio of 1.08. The company has a market capitalization of $72.83 billion, a price-to-earnings ratio of 52.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.48. Howmet Aerospace Inc. has a 1-year low of $90.71 and a 1-year high of $193.26. The stock's 50 day simple moving average is $179.32 and its two-hundred day simple moving average is $150.71.

Howmet Aerospace (NYSE:HWM - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Howmet Aerospace had a net margin of 18.09% and a return on equity of 28.17%. The business had revenue of $2.05 billion for the quarter, compared to analysts' expectations of $1.99 billion. During the same quarter last year, the company earned $0.67 EPS. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. Equities analysts anticipate that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 8th. This is a positive change from Howmet Aerospace's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 0.3%. Howmet Aerospace's payout ratio is presently 11.70%.

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.