TD Asset Management Inc Sells 464,241 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• TD Asset Management Inc has reduced its stake in Howmet Aerospace Inc. by 13.8%, selling 464,241 shares and owning approximately 0.72% of the company valued at $376 million.
• Insider transactions revealed that VP Barbara Lou Shultz and EVP Neil Edward Marchuk sold a combined 31,250 shares of Howmet Aerospace, reflecting decreases of 5.15% and 18.53% in their respective holdings.
• Analysts have updated price targets for Howmet Aerospace, with estimates ranging from $135 to $210, indicating a generally positive sentiment towards the company's future performance.

TD Asset Management Inc cut its stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 13.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,900,226 shares of the company's stock after selling 464,241 shares during the period. TD Asset Management Inc owned about 0.72% of Howmet Aerospace worth $376,246,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HWM. Marietta Investment Partners LLC increased its holdings in shares of Howmet Aerospace by 3.4% in the first quarter. Marietta Investment Partners LLC now owns 38,211 shares of the company's stock worth $4,957,000 after buying an additional 1,255 shares during the period. Mediolanum International Funds Ltd grew its position in Howmet Aerospace by 10.3% during the 1st quarter. Mediolanum International Funds Ltd now owns 116,199 shares of the company's stock worth $15,070,000 after acquiring an additional 10,854 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in Howmet Aerospace in the 1st quarter worth approximately $376,000. Longbow Finance SA bought a new stake in Howmet Aerospace in the first quarter valued at approximately $6,903,000. Finally, Freemont Management S.A. purchased a new stake in shares of Howmet Aerospace during the first quarter valued at approximately $3,555,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO John C. Plant sold 800,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were 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 $37,127,946.24. The trade was a 77.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Neil Edward Marchuk sold 30,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the completion of the sale, the executive vice president owned 131,859 shares in the company, valued at approximately $20,903,607.27. This trade represents a 18.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 831,250 shares of company stock worth $130,517,863 in the last 90 days. 1.12% of the stock is currently owned by corporate insiders.

Howmet Aerospace Price Performance

HWM stock traded up $2.99 during trading on Wednesday, reaching $192.16. The company's stock had a trading volume of 1,017,569 shares, compared to its average volume of 3,032,004. Howmet Aerospace Inc. has a 1 year low of $85.39 and a 1 year high of $192.76. The company has a quick ratio of 1.07, a current ratio of 2.30 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $77.57 billion, a P/E ratio of 62.59, a price-to-earnings-growth ratio of 2.76 and a beta of 1.43. The company's fifty day moving average is $177.03 and its 200-day moving average is $147.93.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. Howmet Aerospace had a return on equity of 27.25% and a net margin of 16.64%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the business posted $0.53 EPS. Howmet Aerospace's revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts expect that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.25%. This is a boost from Howmet Aerospace's previous quarterly dividend of $0.10. Howmet Aerospace's payout ratio is presently 13.03%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HWM. Wall Street Zen lowered shares of Howmet Aerospace from a "buy" rating to a "hold" rating in a report on Friday, July 18th. BTIG Research restated a "buy" rating on shares of Howmet Aerospace in a report on Monday, May 5th. Wells Fargo & Company raised their target price on shares of Howmet Aerospace from $118.00 to $145.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Benchmark boosted their price objective on shares of Howmet Aerospace from $85.00 to $135.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Finally, Morgan Stanley boosted their price objective on shares of Howmet Aerospace from $170.00 to $210.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $150.44.

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.