Mutual of America Capital Management LLC Sells 1,566 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Mutual of America Capital Management LLC reduced its holdings in Howmet Aerospace by 3.2%, selling 1,566 shares and owning 47,109 shares worth approximately $6.11 million at the end of the 1st quarter.
• Howmet Aerospace recently announced a dividend increase to $0.12 per share, up from $0.10, reflecting a positive change with a yield of 0.3%.
• The company's quarterly earnings exceeded expectations, reporting $0.91 EPS and revenues of $2.05 billion, which is a 9.2% increase year-over-year.

Mutual of America Capital Management LLC lowered its stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 3.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 47,109 shares of the company's stock after selling 1,566 shares during the period. Mutual of America Capital Management LLC's holdings in Howmet Aerospace were worth $6,111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of HWM. CVA Family Office LLC boosted its holdings in shares of Howmet Aerospace by 15.7% in the 1st quarter. CVA Family Office LLC now owns 605 shares of the company's stock valued at $78,000 after buying an additional 82 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Howmet Aerospace by 4.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,971 shares of the company's stock valued at $256,000 after buying an additional 92 shares during the period. Nilsine Partners LLC boosted its holdings in shares of Howmet Aerospace by 3.9% in the 1st quarter. Nilsine Partners LLC now owns 2,461 shares of the company's stock valued at $319,000 after buying an additional 93 shares during the period. Argentarii LLC boosted its holdings in shares of Howmet Aerospace by 1.1% in the 1st quarter. Argentarii LLC now owns 9,054 shares of the company's stock valued at $1,175,000 after buying an additional 98 shares during the period. Finally, Curated Wealth Partners LLC boosted its holdings in shares of Howmet Aerospace by 4.1% in the 1st quarter. Curated Wealth Partners LLC now owns 2,510 shares of the company's stock valued at $326,000 after buying an additional 99 shares during the period. Institutional investors own 90.46% of the company's stock.

Insider Transactions at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 30,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $158.53, for a total value of $4,755,900.00. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. Plant sold 800,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the completion of the sale, the chief executive officer owned 236,544 shares in the company, valued at $37,127,946.24. This represents a 77.18% decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock traded down $0.91 during midday trading on Friday, hitting $180.67. The company had a trading volume of 1,588,243 shares, compared to its average volume of 2,884,757. Howmet Aerospace Inc. has a 1-year low of $90.71 and a 1-year high of $193.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.31 and a quick ratio of 1.08. The business's 50 day simple moving average is $179.54 and its two-hundred day simple moving average is $151.08. The stock has a market cap of $72.83 billion, a PE ratio of 52.83, a P/E/G ratio of 2.32 and a beta of 1.48.

Howmet Aerospace (NYSE:HWM - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.99 billion. Howmet Aerospace had a net margin of 18.09% and a return on equity of 28.17%. The firm's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm earned $0.67 EPS. As a group, equities analysts predict that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Friday, August 8th will be issued 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 of this dividend is Friday, August 8th. This is a positive change from Howmet Aerospace's previous quarterly dividend of $0.10. Howmet Aerospace's payout ratio is 11.70%.

Analysts Set New Price Targets

Several research firms have recently commented on HWM. Morgan Stanley lifted their price target on shares of Howmet Aerospace from $170.00 to $210.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Benchmark lifted their price target on Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a report on Monday, April 21st. Royal Bank Of Canada reiterated an "outperform" rating on shares of Howmet Aerospace in a research report on Monday, June 30th. Bank of America raised their target price on Howmet Aerospace from $185.00 to $215.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Wall Street Zen upgraded Howmet Aerospace from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. 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 currently has a consensus rating of "Moderate Buy" and a consensus price target 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.