Conning Inc. acquired a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,981 shares of the company's stock, valued at approximately $257,000.
Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Howmet Aerospace by 233.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 140,883 shares of the company's stock valued at $18,277,000 after purchasing an additional 98,642 shares in the last quarter. Park Avenue Securities LLC grew its position in shares of Howmet Aerospace by 126.1% during the first quarter. Park Avenue Securities LLC now owns 24,207 shares of the company's stock valued at $3,140,000 after purchasing an additional 13,500 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Howmet Aerospace by 156.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,273 shares of the company's stock valued at $1,014,000 after purchasing an additional 5,664 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Howmet Aerospace by 11.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 33,532 shares of the company's stock valued at $4,350,000 after purchasing an additional 3,465 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Howmet Aerospace by 22.1% during the first quarter. GAMMA Investing LLC now owns 10,238 shares of the company's stock valued at $1,328,000 after purchasing an additional 1,854 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company's stock.
Howmet Aerospace Stock Up 2.6%
Shares of NYSE:HWM opened at $180.59 on Friday. Howmet Aerospace Inc. has a 1 year low of $77.22 and a 1 year high of $187.51. The business has a 50 day simple moving average of $166.68 and a two-hundred day simple moving average of $139.06. The firm has a market capitalization of $72.90 billion, a PE ratio of 58.82, a price-to-earnings-growth ratio of 2.73 and a beta of 1.43. 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 (NYSE:HWM - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.09. Howmet Aerospace had a return on equity of 27.25% and a net margin of 16.64%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the business earned $0.53 earnings per share. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts predict that Howmet Aerospace Inc. will post 3.27 EPS for the current year.
Howmet Aerospace Dividend Announcement
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.22%. Howmet Aerospace's payout ratio is 13.03%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on HWM shares. Benchmark raised their price objective on Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, April 21st. Royal Bank Of Canada reiterated an "outperform" rating on shares of Howmet Aerospace in a research report on Monday. Northcoast Research upgraded Howmet Aerospace from a "sell" rating to a "neutral" rating in a research report on Wednesday, April 9th. BTIG Research reiterated a "buy" rating on shares of Howmet Aerospace in a research report on Monday, May 5th. Finally, UBS Group lifted their price target on Howmet Aerospace from $120.00 to $155.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Howmet Aerospace currently has a consensus rating of "Moderate Buy" and an average target price of $142.13.
Get Our Latest Analysis on HWM
Insider Activity at Howmet Aerospace
In related news, CEO John C. Plant sold 800,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $156.96, for a total value of $125,568,000.00. Following the completion of the sale, the chief executive officer owned 236,544 shares in the company, valued at approximately $37,127,946.24. The trade was a 77.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $155.17, for a total value of $193,962.50. Following the completion of the sale, the vice president owned 23,044 shares of the company's stock, valued at $3,575,737.48. The trade was a 5.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 831,250 shares of company stock worth $130,517,863. Company insiders own 1.04% of the company's stock.
About Howmet Aerospace
(
Free Report)
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.
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