Allianz SE Sells 21,717 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Allianz SE reduced its holdings in Howmet Aerospace by 30.6%, selling 21,717 shares and owning a total of 49,162 shares worth approximately $6.38 million.
• Howmet Aerospace reported an EPS of $0.91, exceeding estimates, with revenue of $2.05 billion, marking a 9.2% year-over-year increase.
• The company announced an increase in its quarterly dividend to $0.12 per share, up from $0.10, with a 0.3% yield.

Allianz SE lowered its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 30.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,162 shares of the company's stock after selling 21,717 shares during the quarter. Allianz SE's holdings in Howmet Aerospace were worth $6,378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in Howmet Aerospace by 0.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,213,937 shares of the company's stock worth $1,445,210,000 after acquiring an additional 80,972 shares during the period. Janus Henderson Group PLC boosted its position in shares of Howmet Aerospace by 10.3% during the 4th quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company's stock valued at $1,197,315,000 after acquiring an additional 1,026,130 shares in the last quarter. Capital World Investors boosted its position in shares of Howmet Aerospace by 13.3% during the 4th quarter. Capital World Investors now owns 4,855,273 shares of the company's stock valued at $531,021,000 after acquiring an additional 570,567 shares in the last quarter. Northern Trust Corp boosted its position in shares of Howmet Aerospace by 10.5% during the 4th quarter. Northern Trust Corp now owns 3,676,908 shares of the company's stock valued at $402,143,000 after acquiring an additional 349,384 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in Howmet Aerospace by 0.4% during the 4th quarter. Capital Research Global Investors now owns 3,144,837 shares of the company's stock valued at $343,959,000 after purchasing an additional 13,865 shares during the last quarter. Institutional investors own 90.46% of the company's stock.

Howmet Aerospace Trading Up 2.6%

NYSE:HWM opened at $184.40 on Friday. The firm has a market cap of $74.44 billion, a P/E ratio of 53.92, a P/E/G ratio of 2.71 and a beta of 1.48. Howmet Aerospace Inc. has a 52 week low of $85.39 and a 52 week high of $193.26. The firm's fifty day moving average is $178.35 and its 200-day moving average is $149.33. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.07 and a current ratio of 2.31.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Howmet Aerospace had a net margin of 18.09% and a return on equity of 28.17%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the company posted $0.67 earnings per share. The firm's revenue for the quarter was up 9.2% on a year-over-year basis. Equities analysts expect that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be paid a $0.12 dividend. This is an increase from Howmet Aerospace's previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 8th. Howmet Aerospace's payout ratio is 13.03%.

Insider Activity at Howmet Aerospace

In related news, CEO John C. Plant sold 800,000 shares of Howmet Aerospace stock in a transaction on 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 directly owned 236,544 shares of the company's stock, valued at $37,127,946.24. The trade was a 77.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Barbara Lou Shultz sold 1,250 shares of Howmet Aerospace stock in a transaction 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 completion of the transaction, the vice president directly owned 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 disclosure for this sale can be found here. Insiders have sold 831,250 shares of company stock valued at $130,517,863 over the last three months. 1.04% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on HWM shares. Truist Financial lifted their price target on shares of Howmet Aerospace from $161.00 to $192.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Morgan Stanley boosted their price target on shares of Howmet Aerospace from $170.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Royal Bank Of Canada restated an "outperform" rating on shares of Howmet Aerospace in a report on Monday, June 30th. Vertical Research reissued a "buy" rating on shares of Howmet Aerospace in a research report on Thursday. Finally, BTIG Research reiterated a "buy" rating on shares of Howmet Aerospace in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $153.47.

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.

Want to see what other hedge funds are holding HWM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Howmet Aerospace Inc. (NYSE:HWM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.