Cookson Peirce & Co. Inc. Reduces Stake in Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Cookson Peirce & Co. Inc. has reduced its stake in Howmet Aerospace Inc. (NYSE:HWM) by 15.7%, now holding 243,707 shares valued at approximately $31.6 million.
• Several institutional investors, including Vanguard Group Inc. and JPMorgan Chase & Co., have increased their holdings in Howmet Aerospace, indicating ongoing confidence in the company.
• Howmet Aerospace recently declared a quarterly dividend increase from $0.10 to $0.12 per share, reflecting a positive change in its financial performance.

Cookson Peirce & Co. Inc. lessened its position in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 15.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 243,707 shares of the company's stock after selling 45,290 shares during the quarter. Howmet Aerospace makes up about 1.6% of Cookson Peirce & Co. Inc.'s investment portfolio, making the stock its 20th largest holding. Cookson Peirce & Co. Inc. owned about 0.06% of Howmet Aerospace worth $31,616,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in HWM. Vanguard Group Inc. increased its position in Howmet Aerospace by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 47,813,262 shares of the company's stock valued at $6,202,814,000 after buying an additional 695,953 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Howmet Aerospace by 21.1% in the first quarter. JPMorgan Chase & Co. now owns 24,450,547 shares of the company's stock worth $3,171,970,000 after acquiring an additional 4,252,401 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Howmet Aerospace by 0.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,213,937 shares of the company's stock worth $1,445,210,000 after acquiring an additional 80,972 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Howmet Aerospace by 10.3% in 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 period. Finally, Invesco Ltd. grew its holdings in shares of Howmet Aerospace by 8.3% in the first quarter. Invesco Ltd. now owns 7,315,238 shares of the company's stock worth $949,006,000 after acquiring an additional 563,109 shares during the period. Hedge funds and other institutional investors own 90.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Howmet Aerospace from $118.00 to $145.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. BTIG Research set a $205.00 price objective on Howmet Aerospace and gave the stock a "buy" rating in a report on Monday, August 4th. UBS Group boosted their price objective on Howmet Aerospace from $120.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Truist Financial upped their target price on Howmet Aerospace from $161.00 to $192.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Morgan Stanley upped their target price on Howmet Aerospace from $170.00 to $210.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Howmet Aerospace has an average rating of "Moderate Buy" and a consensus price target of $172.13.

Howmet Aerospace Trading Down 2.3%

Shares of HWM opened at $176.72 on Thursday. Howmet Aerospace Inc. has a 1-year low of $90.71 and a 1-year high of $193.26. The firm has a 50 day simple moving average of $179.89 and a 200-day simple moving average of $152.16. The stock has a market cap of $71.24 billion, a price-to-earnings ratio of 51.67, a price-to-earnings-growth ratio of 2.31 and a beta of 1.48. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.31 and a quick ratio of 1.08.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.99 billion. Howmet Aerospace had a net margin of 18.09% and a return on equity of 28.17%. Howmet Aerospace's revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter last year, the business earned $0.67 EPS. Equities analysts forecast that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be paid a dividend of $0.12 per share. This is a positive change from Howmet Aerospace's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.48 annualized dividend and a yield of 0.3%. Howmet Aerospace's payout ratio is presently 14.04%.

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.

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