Bessemer Group Inc. Sells 433,757 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Bessemer Group Inc. reduced its position in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 10.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,570,421 shares of the company's stock after selling 433,757 shares during the period. Howmet Aerospace makes up about 0.8% of Bessemer Group Inc.'s holdings, making the stock its 26th biggest holding. Bessemer Group Inc. owned approximately 0.88% of Howmet Aerospace worth $463,191,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Spire Wealth Management boosted its stake in shares of Howmet Aerospace by 1.7% during the 1st quarter. Spire Wealth Management now owns 6,228 shares of the company's stock valued at $808,000 after buying an additional 105 shares during the last quarter. Golden State Equity Partners bought a new position in Howmet Aerospace during the 1st quarter valued at $226,000. Moran Wealth Management LLC grew its holdings in Howmet Aerospace by 5.9% during the 1st quarter. Moran Wealth Management LLC now owns 251,027 shares of the company's stock worth $32,566,000 after acquiring an additional 14,032 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Howmet Aerospace by 7.1% during the 1st quarter. International Assets Investment Management LLC now owns 2,406 shares of the company's stock worth $312,000 after acquiring an additional 159 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in shares of Howmet Aerospace by 6.2% in the 1st quarter. Asset Management One Co. Ltd. now owns 202,950 shares of the company's stock worth $26,329,000 after purchasing an additional 11,902 shares during the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Neil Edward Marchuk sold 30,000 shares of the 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 sale, the executive vice president now directly owns 131,859 shares in the company, valued at $20,903,607.27. This represents a 18.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Barbara Lou Shultz sold 1,250 shares of the firm's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $155.17, for a total value of $193,962.50. Following the sale, the vice president now directly owns 23,044 shares of the company's stock, valued at $3,575,737.48. This represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 831,250 shares of company stock worth $130,517,863 in the last quarter. 1.04% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

HWM has been the subject of several research reports. Wells Fargo & Company lifted their price target on shares of Howmet Aerospace from $118.00 to $145.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Royal Bank Of Canada raised their target price on Howmet Aerospace from $165.00 to $200.00 and gave the company an "outperform" rating in a research note on Monday, June 9th. Truist Financial upped their price target 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. Benchmark lifted their target price on Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Finally, UBS Group increased 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. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $142.13.

Howmet Aerospace Stock Performance

HWM stock traded up $0.88 on Thursday, reaching $176.96. 4,389,116 shares of the company were exchanged, compared to its average volume of 2,710,011. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.30 and a quick ratio of 1.07. Howmet Aerospace Inc. has a 12 month low of $76.83 and a 12 month high of $179.22. The stock's fifty day moving average price is $159.24 and its 200 day moving average price is $135.85. The firm has a market capitalization of $71.43 billion, a PE ratio of 59.09, a PEG ratio of 2.66 and a beta of 1.44.

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

Howmet Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, May 9th. Howmet Aerospace's payout ratio is 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.