Overbrook Management Corp Takes $5.80 Million Position in Howmet Aerospace Inc. (NYSE:HWM)

Overbrook Management Corp bought a new stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 44,673 shares of the company's stock, valued at approximately $5,795,000. Howmet Aerospace makes up approximately 1.4% of Overbrook Management Corp's holdings, making the stock its 28th biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. CVA Family Office LLC lifted its stake in Howmet Aerospace by 15.7% in the 1st quarter. CVA Family Office LLC now owns 605 shares of the company's stock valued at $78,000 after buying an additional 82 shares in the last quarter. Private Trust Co. NA lifted its stake in Howmet Aerospace by 28.0% in the 4th quarter. Private Trust Co. NA now owns 407 shares of the company's stock valued at $45,000 after buying an additional 89 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Howmet Aerospace by 4.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,971 shares of the company's stock valued at $256,000 after buying an additional 92 shares in the last quarter. Nilsine Partners LLC lifted its stake in Howmet Aerospace by 3.9% in the 1st quarter. Nilsine Partners LLC now owns 2,461 shares of the company's stock valued at $319,000 after buying an additional 93 shares in the last quarter. Finally, Curated Wealth Partners LLC lifted its stake in Howmet Aerospace by 4.1% in the 1st quarter. Curated Wealth Partners LLC now owns 2,510 shares of the company's stock valued at $326,000 after buying an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company's stock.

Insider Activity at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 30,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $158.53, for a total value of $4,755,900.00. Following the completion of the sale, the executive vice president now directly owns 131,859 shares in the company, valued at approximately $20,903,607.27. This represents a 18.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Barbara Lou Shultz sold 1,250 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $155.17, for a total value of $193,962.50. Following the completion of the sale, the vice president now owns 23,044 shares of the company's stock, valued at approximately $3,575,737.48. This represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 831,250 shares of company stock worth $130,517,863. 1.12% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on HWM shares. Benchmark upped their target price on Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a research note on Monday, April 21st. UBS Group increased their price target on Howmet Aerospace from $120.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Royal Bank Of Canada increased their price target on Howmet Aerospace from $165.00 to $200.00 and gave the stock an "outperform" rating in a research note on Monday, June 9th. BTIG Research reissued a "buy" rating on shares of Howmet Aerospace in a research note on Monday, May 5th. Finally, Wells Fargo & Company increased their price target on Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $142.13.

Howmet Aerospace Trading Up 4.6%

Shares of NYSE HWM traded up $8.22 during midday trading on Friday, hitting $185.07. The stock had a trading volume of 23,826,568 shares, compared to its average volume of 2,779,244. The company has a quick ratio of 1.07, a current ratio of 2.30 and a debt-to-equity ratio of 0.70. Howmet Aerospace Inc. has a 1-year low of $76.85 and a 1-year high of $185.52. The company has a market capitalization of $74.71 billion, a price-to-earnings ratio of 62.05, a PEG ratio of 2.80 and a beta of 1.44. The company has a fifty day moving average price of $161.55 and a 200 day moving average price of $136.92.

Howmet Aerospace (NYSE:HWM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.77 by $0.09. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. Howmet Aerospace had a net margin of 16.64% and a return on equity of 27.25%. Howmet Aerospace's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. On average, analysts predict that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Friday, May 9th. Howmet Aerospace's dividend payout ratio is presently 13.03%.

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.