Howmet Aerospace Inc. (NYSE:HWM) Position Cut by Commerce Bank

Key Points

• Commerce Bank reduced its holdings in Howmet Aerospace Inc. by 14.6%, selling 5,142 shares and ending the quarter with a total of 30,128 shares valued at approximately $3.9 million.
• Analysts have recently upgraded Howmet Aerospace's stock ratings, with target prices raised by firms such as UBS Group and Barclays, indicating strong market confidence and yielding a consensus rating of "Moderate Buy."
• Howmet Aerospace has increased its quarterly dividend from $0.10 to $0.12 per share, demonstrating a commitment to returning value to shareholders amidst strong revenue growth.

Commerce Bank cut its position in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 14.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,128 shares of the company's stock after selling 5,142 shares during the quarter. Commerce Bank's holdings in Howmet Aerospace were worth $3,909,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Winslow Capital Management LLC acquired a new stake in Howmet Aerospace during the 4th quarter worth approximately $265,844,000. GAMMA Investing LLC lifted its holdings in shares of Howmet Aerospace by 15,741.8% in the 1st quarter. GAMMA Investing LLC now owns 1,328,176 shares of the company's stock valued at $1,723,040,000 after buying an additional 1,319,792 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Howmet Aerospace by 10.3% in the 4th quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company's stock valued at $1,197,315,000 after buying an additional 1,026,130 shares during the period. Zurich Insurance Group Ltd FI acquired a new stake in shares of Howmet Aerospace in the 4th quarter valued at approximately $102,996,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Howmet Aerospace by 29.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,539,229 shares of the company's stock valued at $277,715,000 after buying an additional 571,452 shares during the period. 90.46% of the stock is owned by institutional investors and hedge funds.

Howmet Aerospace Trading Up 1.5%

Howmet Aerospace stock traded up $2.66 during midday trading on Wednesday, reaching $181.98. The stock had a trading volume of 2,016,129 shares, compared to its average volume of 3,094,372. Howmet Aerospace Inc. has a twelve month low of $87.64 and a twelve month high of $193.26. The stock has a market capitalization of $73.36 billion, a PE ratio of 53.21, a price-to-earnings-growth ratio of 2.56 and a beta of 1.48. 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's 50-day simple moving average is $178.86 and its 200 day simple moving average is $150.10.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. The company had revenue of $2.05 billion for 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 firm's quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be issued a $0.12 dividend. This is an increase from Howmet Aerospace's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 8th. Howmet Aerospace's dividend payout ratio is presently 11.70%.

Insider Activity

In related news, EVP Neil Edward Marchuk sold 30,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $158.53, for a total value 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. The trade was a 18.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John C. Plant sold 800,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $37,127,946.24. This represents a 77.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.12% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Vertical Research reissued a "buy" rating on shares of Howmet Aerospace in a report on Thursday, July 31st. Benchmark raised their price objective on Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Northcoast Research raised Howmet Aerospace from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. Susquehanna raised their price objective on Howmet Aerospace from $170.00 to $210.00 and gave the company a "positive" rating in a research note on Monday, July 14th. Finally, BTIG Research set a $205.00 price objective on Howmet Aerospace and gave the company a "buy" rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $172.13.

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.