Korea Investment CORP Sells 43,636 Shares of Howmet Aerospace Inc. $HWM

Key Points

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Korea Investment CORP lessened its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,465 shares of the company's stock after selling 43,636 shares during the period. Korea Investment CORP owned approximately 0.08% of Howmet Aerospace worth $40,017,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of HWM. Brighton Jones LLC lifted its holdings in shares of Howmet Aerospace by 5.4% during the 4th quarter. Brighton Jones LLC now owns 2,548 shares of the company's stock valued at $279,000 after purchasing an additional 130 shares in the last quarter. Townsquare Capital LLC lifted its holdings in shares of Howmet Aerospace by 6.7% during the 4th quarter. Townsquare Capital LLC now owns 3,108 shares of the company's stock valued at $340,000 after purchasing an additional 195 shares in the last quarter. Guggenheim Capital LLC lifted its holdings in shares of Howmet Aerospace by 162.2% during the 4th quarter. Guggenheim Capital LLC now owns 14,639 shares of the company's stock valued at $1,601,000 after purchasing an additional 9,055 shares in the last quarter. GeoWealth Management LLC lifted its holdings in shares of Howmet Aerospace by 13.1% during the 4th quarter. GeoWealth Management LLC now owns 1,171 shares of the company's stock valued at $128,000 after purchasing an additional 136 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Howmet Aerospace by 1.4% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 36,772 shares of the company's stock valued at $4,022,000 after purchasing an additional 493 shares in the last quarter. Institutional investors own 90.46% of the company's stock.

Howmet Aerospace Stock Up 1.0%

NYSE:HWM opened at $172.98 on Tuesday. The firm has a market capitalization of $69.73 billion, a price-to-earnings ratio of 50.58, a price-to-earnings-growth ratio of 2.22 and a beta of 1.48. Howmet Aerospace Inc. has a twelve month low of $90.71 and a twelve month high of $193.26. The stock's 50 day moving average price is $179.83 and its two-hundred day moving average price is $153.52. 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 (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, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.99 billion. Howmet Aerospace had a return on equity of 28.17% and a net margin of 18.09%. The business's quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 EPS. Equities research analysts expect that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently announced 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 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 boost from Howmet Aerospace's previous quarterly dividend of $0.10. Howmet Aerospace's payout ratio is presently 14.04%.

Analyst Ratings Changes

Several research firms have commented on HWM. Wells Fargo & Company boosted their target price 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 target price 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 target price on Howmet Aerospace from $170.00 to $210.00 and gave the company a "positive" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. boosted their target price on Howmet Aerospace from $150.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Howmet Aerospace in a research note on Monday, June 30th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $172.13.

Howmet Aerospace Company 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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