Evolution Wealth Advisors LLC Purchases New Shares in Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Evolution Wealth Advisors LLC acquired a new position in Howmet Aerospace, purchasing 8,750 shares valued at approximately $1.14 million during the first quarter.
• Howmet Aerospace's stock received multiple upgrades from analysts, with a consensus rating of "Moderate Buy" and a consensus target price of $172.13.
• The company recently announced an increase in its quarterly dividend to $0.12 per share, marking a boost from the previous amount of $0.10.

Evolution Wealth Advisors LLC bought a new position in Howmet Aerospace Inc. (NYSE:HWM - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 8,750 shares of the company's stock, valued at approximately $1,135,000.

A number of other institutional investors have also modified their holdings of HWM. Hemington Wealth Management raised its holdings in shares of Howmet Aerospace by 46.6% in the first quarter. Hemington Wealth Management now owns 255 shares of the company's stock worth $33,000 after buying an additional 81 shares during the last quarter. CVA Family Office LLC raised its stake in Howmet Aerospace by 15.7% in the 1st quarter. CVA Family Office LLC now owns 605 shares of the company's stock worth $78,000 after acquiring an additional 82 shares during the last quarter. Mount Lucas Management LP lifted its position in Howmet Aerospace by 3.2% during the 1st quarter. Mount Lucas Management LP now owns 2,661 shares of the company's stock worth $345,000 after acquiring an additional 82 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in Howmet Aerospace by 4.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,971 shares of the company's stock worth $256,000 after acquiring an additional 92 shares during the period. Finally, Nilsine Partners LLC grew its stake in Howmet Aerospace by 3.9% during the 1st quarter. Nilsine Partners LLC now owns 2,461 shares of the company's stock valued at $319,000 after purchasing an additional 93 shares during the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 30,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president directly owned 131,859 shares of the company's stock, valued at approximately $20,903,607.27. This trade represents a 18.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John C. Plant sold 800,000 shares of the company's stock in a transaction on 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 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. 1.04% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HWM shares. Truist Financial lifted their target price on Howmet Aerospace from $161.00 to $192.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Barclays restated an "overweight" rating and set a $190.00 price objective (up from $140.00) on shares of Howmet Aerospace in a research note on Monday. Susquehanna increased their price objective on shares of Howmet Aerospace from $170.00 to $210.00 and gave the stock a "positive" rating in a research note on Monday, July 14th. Morgan Stanley boosted their target price on shares of Howmet Aerospace from $170.00 to $210.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Finally, Benchmark lifted their price target on Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, April 21st. 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, the company presently has an average rating of "Moderate Buy" and an average price target of $172.13.

Howmet Aerospace Trading Down 0.5%

Shares of Howmet Aerospace stock traded down $0.91 during trading hours on Friday, reaching $180.67. The stock had a trading volume of 1,588,243 shares, compared to its average volume of 2,884,757. The firm has a 50 day simple moving average of $179.54 and a two-hundred day simple moving average of $151.08. The firm has a market capitalization of $72.83 billion, a price-to-earnings ratio of 52.83, a P/E/G ratio of 2.32 and a beta of 1.48. Howmet Aerospace Inc. has a 1 year low of $90.71 and a 1 year high of $193.26. The company has a current ratio of 2.31, a quick ratio of 1.08 and a debt-to-equity ratio of 0.65.

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

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Friday, August 8th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.3%. 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. Howmet Aerospace's dividend payout ratio is 11.70%.

Howmet Aerospace 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.