Cumberland Partners Ltd Has $7.60 Million Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Cumberland Partners Ltd has reduced its stake in Howmet Aerospace Inc. by 33.8%, owning 58,570 shares post-sale, valued at approximately $7.6 million.
• Howmet Aerospace's stock has seen a series of ratings upgrades, with several brokerages now providing a consensus rating of "Moderate Buy" and a target price of $153.47.
• The company recently declared an increased quarterly dividend of $0.12 per share, boosting from its previous dividend of $0.10, with a current dividend yield of 0.3%.

Cumberland Partners Ltd lessened its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 33.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,570 shares of the company's stock after selling 29,905 shares during the quarter. Cumberland Partners Ltd's holdings in Howmet Aerospace were worth $7,598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd bought a new stake in Howmet Aerospace in the 4th quarter valued at $25,000. Kapitalo Investimentos Ltda bought a new position in shares of Howmet Aerospace during the fourth quarter worth about $30,000. GPS Wealth Strategies Group LLC lifted its stake in Howmet Aerospace by 114.6% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 264 shares of the company's stock valued at $34,000 after acquiring an additional 141 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Howmet Aerospace during the 1st quarter worth approximately $37,000. Finally, Wood Tarver Financial Group LLC acquired a new position in Howmet Aerospace during the 4th quarter worth approximately $39,000. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock traded up $2.66 on Wednesday, hitting $181.98. The stock had a trading volume of 1,560,912 shares, compared to its average volume of 3,090,448. The stock has a market cap of $73.36 billion, a price-to-earnings ratio of 53.21, a price-to-earnings-growth ratio of 2.56 and a beta of 1.48. The business's 50 day moving average is $178.86 and its two-hundred day moving average is $150.10. The company has a quick ratio of 1.08, a current ratio of 2.31 and a debt-to-equity ratio of 0.65. Howmet Aerospace Inc. has a twelve month low of $87.64 and a twelve month high of $193.26.

Howmet Aerospace (NYSE:HWM - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $1.99 billion. During the same quarter last year, the business earned $0.67 EPS. The company's quarterly revenue was up 9.2% compared to the same quarter last year. Analysts forecast that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be given a dividend of $0.12 per share. 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. This is a boost from Howmet Aerospace's previous quarterly dividend of $0.10. Howmet Aerospace's dividend payout ratio (DPR) is currently 11.70%.

Insider Buying and Selling

In other Howmet Aerospace news, 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 completion of the transaction, the executive vice president directly owned 131,859 shares of the company's stock, valued at $20,903,607.27. The trade was a 18.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John C. Plant sold 800,000 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 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 disclosure for this sale can be found here. Corporate insiders own 1.12% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on HWM shares. Susquehanna boosted their price objective on shares of Howmet Aerospace from $170.00 to $210.00 and gave the stock a "positive" rating in a research report on Monday, July 14th. Morgan Stanley raised their price objective on Howmet Aerospace from $170.00 to $210.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Northcoast Research upgraded Howmet Aerospace from a "sell" rating to a "neutral" rating in a report on Wednesday, April 9th. BTIG Research set a $205.00 price target on Howmet Aerospace and gave the company a "buy" rating in a research note on Monday. Finally, Truist Financial upped their price objective on Howmet Aerospace from $161.00 to $192.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. 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 stock presently has an average rating of "Moderate Buy" and an average target price of $172.13.

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.