Bank of New York Mellon Corp Cuts Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Bank of New York Mellon Corp cut its stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 6.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,661,426 shares of the company's stock after selling 366,454 shares during the period. Bank of New York Mellon Corp owned 1.40% of Howmet Aerospace worth $734,457,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Howmet Aerospace by 233.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 140,883 shares of the company's stock worth $18,277,000 after acquiring an additional 98,642 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of Howmet Aerospace by 126.1% in the 1st quarter. Park Avenue Securities LLC now owns 24,207 shares of the company's stock worth $3,140,000 after purchasing an additional 13,500 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Howmet Aerospace by 156.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,273 shares of the company's stock worth $1,014,000 after purchasing an additional 5,664 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Howmet Aerospace by 11.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 33,532 shares of the company's stock worth $4,350,000 after purchasing an additional 3,465 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Howmet Aerospace by 22.1% in the first quarter. GAMMA Investing LLC now owns 10,238 shares of the company's stock worth $1,328,000 after purchasing an additional 1,854 shares during the last quarter. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Howmet Aerospace Price Performance

Shares of HWM traded up $2.11 during trading hours on Wednesday, reaching $181.57. 1,406,363 shares of the stock traded hands, compared to its average volume of 2,808,532. The company has a market cap of $73.29 billion, a P/E ratio of 59.14, a price-to-earnings-growth ratio of 2.72 and a beta of 1.43. Howmet Aerospace Inc. has a 52-week low of $77.22 and a 52-week high of $187.51. The company has a current ratio of 2.30, a quick ratio of 1.07 and a debt-to-equity ratio of 0.70. The company's 50-day moving average price is $168.40 and its two-hundred day moving average price is $140.25.

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

Howmet Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 9th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Friday, May 9th. Howmet Aerospace's dividend payout ratio (DPR) is currently 13.03%.

Insider Buying and Selling

In related news, EVP Neil Edward Marchuk sold 30,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $158.53, for a total value of $4,755,900.00. Following the sale, the executive vice president directly owned 131,859 shares of the company's stock, valued at $20,903,607.27. This represents a 18.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John C. Plant sold 800,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $156.96, for a total transaction 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 $37,127,946.24. This trade represents a 77.18% 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 in the last ninety days. 1.12% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on HWM shares. Northcoast Research upgraded Howmet Aerospace from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. Benchmark boosted their price target on Howmet Aerospace from $85.00 to $135.00 and gave the stock a "buy" rating in a research note on Monday, April 21st. UBS Group lifted their target price on shares of Howmet Aerospace from $120.00 to $155.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Wells Fargo & Company lifted their target price on shares of Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Finally, Truist Financial lifted their target price on shares of Howmet Aerospace from $161.00 to $192.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $142.13.

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.