Allspring Global Investments Holdings LLC Buys 395,402 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Allspring Global Investments Holdings LLC increased its stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 335.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 513,101 shares of the company's stock after buying an additional 395,402 shares during the period. Allspring Global Investments Holdings LLC owned 0.13% of Howmet Aerospace worth $67,616,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vista Investment Partners II LLC bought a new stake in shares of Howmet Aerospace during the 1st quarter worth about $205,000. Kessler Investment Group LLC bought a new stake in shares of Howmet Aerospace during the 1st quarter worth about $5,824,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Howmet Aerospace by 11.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,851 shares of the company's stock worth $8,151,000 after buying an additional 6,668 shares during the period. Cavalier Investments LLC boosted its holdings in shares of Howmet Aerospace by 97.8% during the 1st quarter. Cavalier Investments LLC now owns 135,311 shares of the company's stock worth $17,554,000 after buying an additional 66,913 shares during the period. Finally, Achmea Investment Management B.V. boosted its holdings in shares of Howmet Aerospace by 64.8% during the 1st quarter. Achmea Investment Management B.V. now owns 7,000 shares of the company's stock worth $908,000 after buying an additional 2,752 shares during the period. Institutional investors own 90.46% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Truist Financial boosted their price objective 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. UBS Group boosted their price objective on shares of Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. BTIG Research reissued a "buy" rating on shares of Howmet Aerospace in a report on Monday, May 5th. Benchmark boosted their price objective on shares of Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a report on Monday, April 21st. Finally, Northcoast Research raised shares of Howmet Aerospace from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.13.

Insider Buying and Selling

In related news, VP Barbara Lou Shultz sold 1,250 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were 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 now directly owns 23,044 shares in the company, valued at $3,575,737.48. This represents a 5.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Neil Edward Marchuk sold 30,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the transaction, the executive vice president now owns 131,859 shares of the company's stock, 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 in the last three months. 1.04% of the stock is owned by corporate insiders.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $185.07 on Friday. The firm has a 50 day moving average of $161.55 and a 200-day moving average of $136.92. The stock has a market capitalization of $74.71 billion, a PE ratio of 60.28, a PEG ratio of 2.79 and a beta of 1.44. The company has a current ratio of 2.30, a quick ratio of 1.07 and a debt-to-equity ratio of 0.70. Howmet Aerospace Inc. has a 12 month low of $76.85 and a 12 month high of $185.52.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued its 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 company had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.94 billion. Howmet Aerospace had a net margin of 16.64% and a return on equity of 27.25%. The business's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 EPS. On average, equities research analysts predict that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 9th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date was Friday, May 9th. Howmet Aerospace's dividend payout ratio is 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.

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