ASR Vermogensbeheer N.V. Acquires Shares of 134,851 Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• ASR Vermogensbeheer N.V. acquired a new position in Howmet Aerospace Inc., purchasing 134,851 shares valued at approximately $17.49 million during the first quarter.
• Howmet Aerospace's latest quarterly earnings report showed an EPS of $0.91, surpassing expectations and reflecting a 9.2% revenue growth year-over-year.
• The company announced an increase in its dividend to $0.12 per share, with a yield of 0.3%, set to be paid on August 25th.

ASR Vermogensbeheer N.V. purchased a new position in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 134,851 shares of the company's stock, valued at approximately $17,494,000.

A number of other hedge funds also recently modified their holdings of HWM. Citizens Financial Group Inc. RI bought a new stake in shares of Howmet Aerospace in the first quarter valued at approximately $252,000. Strategy Asset Managers LLC purchased a new position in Howmet Aerospace in the 1st quarter valued at approximately $657,000. Hemington Wealth Management raised its holdings in Howmet Aerospace by 46.6% during the 1st quarter. Hemington Wealth Management now owns 255 shares of the company's stock valued at $33,000 after acquiring an additional 81 shares during the period. Nicholas Hoffman & Company LLC. raised its holdings in Howmet Aerospace by 81.4% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 4,534 shares of the company's stock valued at $588,000 after acquiring an additional 2,034 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Howmet Aerospace by 1.5% during the first quarter. Vanguard Group Inc. now owns 47,813,262 shares of the company's stock worth $6,202,814,000 after acquiring an additional 695,953 shares in the last quarter. Institutional investors own 90.46% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HWM shares. UBS Group lifted their price target on Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Howmet Aerospace in a report on Monday, June 30th. Barclays reissued an "overweight" rating and issued a $190.00 price target (up from $140.00) on shares of Howmet Aerospace in a report on Monday. Wells Fargo & Company boosted their price objective on shares of Howmet Aerospace from $118.00 to $145.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley raised their price target on shares of Howmet Aerospace from $170.00 to $210.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $172.13.

Howmet Aerospace Price Performance

HWM traded down $0.91 during trading on Friday, reaching $180.67. The stock had a trading volume of 1,588,243 shares, compared to its average volume of 2,884,757. The business has a 50-day moving average of $179.54 and a 200-day moving average of $151.08. Howmet Aerospace Inc. has a one year low of $90.71 and a one year high of $193.26. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.08 and a current ratio of 2.31. The stock has a market cap of $72.83 billion, a PE ratio of 52.83, a PEG ratio of 2.32 and a beta of 1.48.

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

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, August 8th. 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%. Howmet Aerospace's dividend payout ratio (DPR) is 11.70%.

Insider Buying and Selling

In other news, CEO John C. Plant sold 800,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $156.96, for a total value of $125,568,000.00. Following the completion of the sale, the chief executive officer directly owned 236,544 shares in the company, valued at approximately $37,127,946.24. The trade was a 77.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Neil Edward Marchuk sold 30,000 shares of the company'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 completion of the sale, the executive vice president directly owned 131,859 shares of the company's stock, valued at $20,903,607.27. This trade represents a 18.53% decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is owned by company insiders.

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.