GAMMA Investing LLC Buys 1,319,792 Shares of Howmet Aerospace Inc. (NYSE:HWM)

GAMMA Investing LLC lifted its stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 15,741.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,328,176 shares of the company's stock after purchasing an additional 1,319,792 shares during the period. GAMMA Investing LLC owned 0.33% of Howmet Aerospace worth $1,723,040,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Howmet Aerospace during the 4th quarter valued at about $25,000. Meeder Asset Management Inc. lifted its holdings in shares of Howmet Aerospace by 208.1% in the 4th quarter. Meeder Asset Management Inc. now owns 228 shares of the company's stock valued at $25,000 after acquiring an additional 154 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Howmet Aerospace in the 4th quarter valued at about $25,000. R Squared Ltd purchased a new stake in Howmet Aerospace in the 4th quarter worth about $26,000. Finally, Washington Trust Advisors Inc. purchased a new stake in Howmet Aerospace in the 4th quarter worth about $29,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HWM has been the topic of a number of research reports. UBS Group raised their target price on shares of Howmet Aerospace from $120.00 to $155.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Benchmark raised their target price on shares of Howmet Aerospace from $85.00 to $135.00 and gave the stock a "buy" rating in a research report on Monday, April 21st. Royal Bank of Canada lifted their price objective on shares of Howmet Aerospace from $150.00 to $165.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. The Goldman Sachs Group raised their target price on shares of Howmet Aerospace from $124.00 to $139.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Finally, Barclays boosted their target price on shares of Howmet Aerospace from $130.00 to $140.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, Howmet Aerospace currently has an average rating of "Moderate Buy" and an average price target of $132.53.

Insiders Place Their Bets

In other Howmet Aerospace news, CEO John C. Plant sold 800,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 236,544 shares in the company, valued at approximately $37,127,946.24. This trade represents a 77.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Barbara Lou Shultz sold 1,250 shares of the stock in a transaction dated 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 now directly owns 23,044 shares of the company's stock, valued at approximately $3,575,737.48. The trade was a 5.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 831,250 shares of company stock valued at $130,517,863 in the last 90 days. 1.04% of the stock is currently owned by insiders.

Howmet Aerospace Trading Down 0.2%

NYSE HWM traded down $0.35 on Tuesday, hitting $172.30. 1,131,417 shares of the company were exchanged, compared to its average volume of 2,707,745. The firm has a market capitalization of $69.55 billion, a P/E ratio of 61.10, a price-to-earnings-growth ratio of 1.92 and a beta of 1.37. Howmet Aerospace Inc. has a twelve month low of $76.83 and a twelve month high of $174.66. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98. The company's 50 day moving average price is $142.94 and its 200-day moving average price is $129.54.

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, topping analysts' consensus estimates of $0.77 by $0.09. The firm had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.94 billion. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The company's revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 earnings per share. Analysts predict that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, May 9th. Howmet Aerospace's dividend payout ratio is currently 13.03%.

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.