Assenagon Asset Management S.A. Boosts Position in Howmet Aerospace Inc. (NYSE:HWM)

Assenagon Asset Management S.A. boosted its position in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 22.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 388,615 shares of the company's stock after purchasing an additional 70,648 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.10% of Howmet Aerospace worth $50,415,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Howmet Aerospace during the fourth quarter worth about $1,001,558,000. JPMorgan Chase & Co. grew its stake in shares of Howmet Aerospace by 14.0% during the fourth quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company's stock worth $2,209,071,000 after acquiring an additional 2,486,649 shares during the last quarter. Winslow Capital Management LLC purchased a new stake in shares of Howmet Aerospace during the fourth quarter worth about $265,844,000. GAMMA Investing LLC grew its stake in shares of Howmet Aerospace by 15,741.8% during the first quarter. GAMMA Investing LLC now owns 1,328,176 shares of the company's stock worth $1,723,040,000 after acquiring an additional 1,319,792 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Howmet Aerospace by 10.3% during the fourth quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company's stock worth $1,197,315,000 after acquiring an additional 1,026,130 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HWM. UBS Group boosted 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. JPMorgan Chase & Co. boosted their price target on Howmet Aerospace from $125.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, February 14th. Wells Fargo & Company boosted 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. Royal Bank of Canada boosted 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. Finally, The Goldman Sachs Group upped their target price on Howmet Aerospace from $124.00 to $139.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.88.

Insider Activity at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 30,000 shares of the business'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 completion of the sale, the executive vice president now owns 131,859 shares in the company, valued at $20,903,607.27. The trade was a 18.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Barbara Lou Shultz sold 1,250 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $155.17, for a total value of $193,962.50. Following the sale, the vice president now owns 23,044 shares of the company's stock, valued at approximately $3,575,737.48. The trade was a 5.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 831,250 shares of company stock worth $130,517,863. Company insiders own 1.04% of the company's stock.

Howmet Aerospace Stock Performance

NYSE:HWM traded down $0.61 during trading hours on Friday, reaching $170.91. The company had a trading volume of 2,418,162 shares, compared to its average volume of 2,735,355. Howmet Aerospace Inc. has a 1-year low of $76.83 and a 1-year high of $177.25. The firm has a market cap of $68.99 billion, a PE ratio of 60.61, a price-to-earnings-growth ratio of 1.92 and a beta of 1.44. The business's 50 day moving average price is $151.46 and its 200-day moving average price is $132.83. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the previous year, the company posted $0.53 earnings per share. Howmet Aerospace's revenue for the quarter was up 5.5% on a year-over-year basis. Research analysts forecast that Howmet Aerospace Inc. will post 3.27 EPS for the current 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 issued a $0.10 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.40 annualized dividend and a yield of 0.23%. Howmet Aerospace's dividend payout ratio (DPR) is currently 13.03%.

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.