Howmet Aerospace Inc. (NYSE:HWM) Shares Purchased by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its stake in Howmet Aerospace by 23.8%, now owning approximately 0.08% of the company, worth about $40.16 million.
• Several institutional investors, including Harbour Investments and PFG Advisors, have significantly increased their holdings in Howmet Aerospace during the first quarter.
• Howmet Aerospace declared a quarterly dividend of $0.12, up from $0.10, highlighting a dividend yield of 0.3% and a payout ratio of 11.70%.

National Bank of Canada FI boosted its holdings in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 23.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 309,559 shares of the company's stock after purchasing an additional 59,459 shares during the quarter. National Bank of Canada FI owned about 0.08% of Howmet Aerospace worth $40,159,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its stake in Howmet Aerospace by 10.1% in the first quarter. Harbour Investments Inc. now owns 1,114 shares of the company's stock valued at $145,000 after buying an additional 102 shares during the last quarter. PFG Advisors lifted its stake in Howmet Aerospace by 37.9% in the first quarter. PFG Advisors now owns 9,593 shares of the company's stock valued at $1,245,000 after buying an additional 2,635 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Howmet Aerospace by 233.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 140,883 shares of the company's stock valued at $18,277,000 after buying an additional 98,642 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Howmet Aerospace by 126.1% in the first quarter. Park Avenue Securities LLC now owns 24,207 shares of the company's stock valued at $3,140,000 after buying an additional 13,500 shares during the last quarter. Finally, Private Trust Co. NA lifted its stake in Howmet Aerospace by 65.4% in the first quarter. Private Trust Co. NA now owns 673 shares of the company's stock valued at $87,000 after buying an additional 266 shares during the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HWM shares. Wells Fargo & Company boosted their price objective on Howmet Aerospace from $118.00 to $145.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. UBS Group boosted their price objective on Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Susquehanna boosted their price objective on Howmet Aerospace from $170.00 to $210.00 and gave the company a "positive" rating in a research note on Monday, July 14th. Barclays reissued an "overweight" rating and issued a $190.00 target price (up previously from $140.00) on shares of Howmet Aerospace in a report on Monday, August 4th. Finally, Bank of America boosted their target price on Howmet Aerospace from $185.00 to $215.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $172.13.

Insider Buying and Selling

In related news, CEO John C. Plant sold 800,000 shares of Howmet Aerospace stock in a transaction on Monday, May 12th. The stock was sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the completion of the transaction, the chief executive officer directly owned 236,544 shares of the company's stock, valued at approximately $37,127,946.24. The trade was a 77.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Neil Edward Marchuk sold 30,000 shares of Howmet Aerospace stock in a transaction on Monday, May 12th. The stock was sold at an average price of $158.53, for a total value of $4,755,900.00. Following the transaction, the executive vice president directly owned 131,859 shares of the company's stock, valued at approximately $20,903,607.27. This represents a 18.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

Howmet Aerospace Stock Down 0.5%

Howmet Aerospace stock opened at $180.67 on Friday. 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 1-year low of $90.71 and a 1-year high of $193.26. The company has a market cap of $72.83 billion, a PE ratio of 52.83, a price-to-earnings-growth ratio of 2.31 and a beta of 1.48. The stock's 50 day moving average price is $179.54 and its 200 day moving average price is $151.25.

Howmet Aerospace (NYSE:HWM - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.91 earnings per share for the quarter, beating 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 firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The company's revenue for the quarter was up 9.2% compared to the same quarter last year. On average, sell-side analysts predict that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost from Howmet Aerospace's previous quarterly dividend of $0.10. The ex-dividend date is Friday, August 8th. Howmet Aerospace's dividend payout ratio (DPR) is presently 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.

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