Howmet Aerospace Inc. $HWM Shares Acquired by Chapin Davis Inc.

Key Points

• Chapin Davis increased its Howmet Aerospace stake by 7.8% in the second quarter, bringing its holdings to 48,525 shares worth approximately $13.05 million. Institutional investors collectively own 90.46% of HWM.
• Analysts remain broadly positive, with 16 Buy ratings and four Holds. Howmet has a “Moderate Buy” consensus rating and an average price target of $300.33.
• Howmet reported quarterly earnings and revenue above expectations, with EPS of $1.22 and revenue of $2.31 billion, while raising its quarterly dividend from $0.12 to $0.14 per share.

Chapin Davis Inc. lifted its stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 7.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,525 shares of the company's stock after purchasing an additional 3,502 shares during the period. Howmet Aerospace comprises 2.3% of Chapin Davis Inc.'s investment portfolio, making the stock its 12th biggest position. Chapin Davis Inc.'s holdings in Howmet Aerospace were worth $13,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Acumen Wealth Advisors LLC purchased a new stake in Howmet Aerospace during the 4th quarter worth approximately $25,000. Sound Income Strategies LLC raised its holdings in shares of Howmet Aerospace by 66.7% during the fourth quarter. Sound Income Strategies LLC now owns 125 shares of the company's stock valued at $28,000 after acquiring an additional 50 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its position in shares of Howmet Aerospace by 119.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 134 shares of the company's stock valued at $25,000 after acquiring an additional 73 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in shares of Howmet Aerospace by 65.1% in the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 137 shares of the company's stock valued at $28,000 after acquiring an additional 54 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. acquired a new stake in shares of Howmet Aerospace in the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 90.46% of the company's stock.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 41,932 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $269.50, for a total value of $11,300,674.00. Following the transaction, the executive vice president directly owned 65,105 shares in the company, valued at $17,545,797.50. The trade was a 39.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.85% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on HWM shares. Citigroup boosted their price target on Howmet Aerospace from $303.00 to $311.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. BTIG Research raised their price objective on Howmet Aerospace from $275.00 to $300.00 and gave the company a "buy" rating in a report on Friday, May 8th. TD Cowen lifted their target price on shares of Howmet Aerospace from $300.00 to $320.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Susquehanna upped their target price on shares of Howmet Aerospace from $300.00 to $330.00 and gave the stock a "positive" rating in a report on Friday, May 8th. Finally, Wall Street Zen cut shares of Howmet Aerospace from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 5th. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Howmet Aerospace presently has a consensus rating of "Moderate Buy" and a consensus target price of $300.33.

Howmet Aerospace Stock Up 1.1%

Shares of HWM opened at $291.28 on Thursday. Howmet Aerospace Inc. has a 52-week low of $169.45 and a 52-week high of $295.28. The company has a market capitalization of $116.54 billion, a PE ratio of 67.58, a price-to-earnings-growth ratio of 2.26 and a beta of 1.20. The stock has a fifty day simple moving average of $271.75 and a two-hundred day simple moving average of $253.31. The company has a quick ratio of 1.59, a current ratio of 2.44 and a debt-to-equity ratio of 0.73.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.11. Howmet Aerospace had a net margin of 20.23% and a return on equity of 29.27%. The firm had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.24 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The company's revenue was up 19.1% compared to the same quarter last year. As a group, equities analysts forecast that Howmet Aerospace Inc. will post 5.05 EPS for the current year.

Howmet Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Shareholders of record on Friday, August 7th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.2%. This is a boost from Howmet Aerospace's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, August 7th. Howmet Aerospace's payout ratio is presently 12.99%.

Howmet Aerospace Company Profile

Howmet Aerospace Inc is an industrial technology company that designs, manufactures and repairs engineered metal products for the aerospace, transportation and industrial markets. Its product portfolio includes precision castings and forgings, engineered fasteners, seamless rolled rings, and complex components for turbine engines, airframes and industrial gas turbines. The company also provides aftermarket services such as component repair, overhaul and parts distribution to support the operating fleet of commercial and military customers.

Howmet serves a global customer base of original equipment manufacturers (OEMs) and aftermarket operators, with manufacturing, service and distribution facilities across North America, Europe and Asia.

Want to see what other hedge funds are holding HWM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Howmet Aerospace Inc. (NYSE:HWM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source