Founders Financial Alliance LLC Takes $326,000 Position in Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Founders Financial Alliance LLC acquired 2,513 shares of Howmet Aerospace Inc. valued at approximately $326,000, reflecting increased interest from institutional investors, with 90.46% of the stock owned by such entities.
• Executive Vice President Neil Edward Marchuk and CEO John C. Plant sold a combined total of 830,000 shares of Howmet Aerospace, indicating a significant decrease in their positions by 18.53% and 77.18%, respectively.
• Howmet Aerospace recently announced an increase in its quarterly dividend from $0.10 to $0.12 per share, representing a dividend yield of 0.3%, set to be paid to stockholders of record on August 8th.

Founders Financial Alliance LLC acquired a new stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,513 shares of the company's stock, valued at approximately $326,000.

A number of other hedge funds also recently modified their holdings of the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of Howmet Aerospace in the fourth quarter valued at about $25,000. Kapitalo Investimentos Ltda acquired a new position in shares of Howmet Aerospace during the 4th quarter worth approximately $30,000. Pinpoint Asset Management Ltd increased its holdings in shares of Howmet Aerospace by 42.8% during the first quarter. Pinpoint Asset Management Ltd now owns 237 shares of the company's stock worth $31,000 after purchasing an additional 71 shares during the period. Hemington Wealth Management raised its position in shares of Howmet Aerospace by 46.6% in the first quarter. Hemington Wealth Management now owns 255 shares of the company's stock valued at $33,000 after buying an additional 81 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC boosted its stake in shares of Howmet Aerospace by 114.6% in the first quarter. GPS Wealth Strategies Group LLC now owns 264 shares of the company's stock valued at $34,000 after buying an additional 141 shares during the period. Institutional investors and hedge funds own 90.46% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HWM. Benchmark upped their target price on Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, April 21st. Morgan Stanley increased their price objective on shares of Howmet Aerospace from $170.00 to $210.00 and gave the stock an "overweight" rating in a research note on Thursday, July 17th. Wells Fargo & Company boosted their target price on shares of Howmet Aerospace from $118.00 to $145.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Truist Financial lifted their price objective on shares of Howmet Aerospace from $161.00 to $192.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Vertical Research restated a "buy" rating on shares of Howmet Aerospace in a research note on Thursday, July 31st. Four 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $172.13.

Howmet Aerospace Trading Down 3.3%

Shares of HWM traded down $5.98 during trading hours on Wednesday, hitting $174.93. 1,781,524 shares of the stock were exchanged, compared to its average volume of 3,044,519. Howmet Aerospace Inc. has a fifty-two week low of $90.71 and a fifty-two week high of $193.26. The business has a 50-day moving average of $179.84 and a 200-day moving average of $151.99. The firm has a market capitalization of $70.52 billion, a P/E ratio of 51.13, a price-to-earnings-growth ratio of 2.30 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 data on Thursday, July 31st. The company reported $0.91 earnings per share (EPS) 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 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 firm's revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS. On average, research analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently disclosed 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 is an increase from Howmet Aerospace's previous quarterly dividend of $0.10. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, August 8th. Howmet Aerospace's dividend payout ratio is 14.04%.

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.