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Bank of Nova Scotia Sells 13,937 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Howmet Aerospace logo with Aerospace background

Key Points

  • Bank of Nova Scotia has reduced its stake in Howmet Aerospace Inc. by 9.4%, now holding 135,011 shares valued at approximately $17.5 million.
  • Howmet Aerospace reported a quarterly revenue increase of 9.2% year-over-year, with earnings per share (EPS) of $0.91, surpassing expectations of $0.87.
  • The company has announced a quarterly dividend increase, now set at $0.12 per share, reflecting the firm’s commitment to returning value to shareholders.
  • Five stocks we like better than Howmet Aerospace.

Bank of Nova Scotia cut its holdings in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 9.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 135,011 shares of the company's stock after selling 13,937 shares during the period. Bank of Nova Scotia's holdings in Howmet Aerospace were worth $17,515,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in Howmet Aerospace during the fourth quarter worth $25,000. GPS Wealth Strategies Group LLC lifted its stake in shares of Howmet Aerospace by 114.6% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 264 shares of the company's stock worth $34,000 after buying an additional 141 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Howmet Aerospace during the 4th quarter worth about $30,000. Wayfinding Financial LLC bought a new stake in shares of Howmet Aerospace during the 1st quarter worth about $37,000. Finally, HHM Wealth Advisors LLC grew its stake in Howmet Aerospace by 1,764.7% in the 1st quarter. HHM Wealth Advisors LLC now owns 317 shares of the company's stock valued at $41,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Howmet Aerospace from a "hold" rating to a "buy" rating in a research report on Saturday. BTIG Research set a $205.00 price target on Howmet Aerospace and gave the stock a "buy" rating in a report on Monday. Northcoast Research raised Howmet Aerospace from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. Royal Bank Of Canada reissued an "outperform" rating on shares of Howmet Aerospace in a report on Monday, June 30th. Finally, UBS Group boosted their target price on shares of Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $172.13.

Get Our Latest Stock Report on Howmet Aerospace

Insider Buying and Selling at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 30,000 shares of Howmet Aerospace stock in a transaction on Monday, May 12th. The shares were sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the transaction, the executive vice president owned 131,859 shares in the company, valued at approximately $20,903,607.27. The trade was a 18.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John C. Plant sold 800,000 shares of Howmet Aerospace 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 transaction, the chief executive officer directly owned 236,544 shares in the company, valued at $37,127,946.24. The trade was a 77.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.12% of the company's stock.

Howmet Aerospace Price Performance

HWM traded up $2.66 during trading on Wednesday, hitting $181.98. 2,016,129 shares of the stock traded hands, compared to its average volume of 3,094,372. The business has a 50 day moving average price of $178.86 and a 200 day moving average price of $150.10. 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 Inc. has a twelve month low of $87.64 and a twelve month high of $193.26. The company has a market cap of $73.36 billion, a price-to-earnings ratio of 53.21, a PEG ratio of 2.56 and a beta of 1.48.

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

Howmet Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be issued 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 dividend yield of 0.3%. Howmet Aerospace's dividend payout ratio (DPR) is 11.70%.

Howmet Aerospace Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Howmet Aerospace (NYSE:HWM)

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