Monetta Financial Services Inc. Buys Shares of 6,500 Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Monetta Financial Services Inc. has acquired a new stake in Howmet Aerospace, purchasing 6,500 shares valued at approximately $843,000 during the first quarter.
• Howmet Aerospace recently declared an increased quarterly dividend, raising it from $0.10 to $0.12 per share, resulting in an annualized yield of 0.3%.
• Analysts have set new price targets for Howmet Aerospace, with Barclays increasing its target to $190 and Truist Financial to $192, indicating strong market confidence.

Monetta Financial Services Inc. acquired a new stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,500 shares of the company's stock, valued at approximately $843,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of HWM. Aster Capital Management DIFC Ltd acquired a new stake in Howmet Aerospace in the 4th quarter worth approximately $25,000. Hemington Wealth Management boosted its stake in Howmet Aerospace by 46.6% during the first quarter. Hemington Wealth Management now owns 255 shares of the company's stock worth $33,000 after buying an additional 81 shares in the last quarter. GPS Wealth Strategies Group LLC increased its stake in Howmet Aerospace by 114.6% in the first 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 during the period. Kapitalo Investimentos Ltda bought a new position in shares of Howmet Aerospace during the 4th quarter worth approximately $30,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Howmet Aerospace by 100.7% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 279 shares of the company's stock valued at $36,000 after purchasing an additional 140 shares in the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Benchmark increased 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. UBS Group lifted their price objective on shares of Howmet Aerospace from $120.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Truist Financial upped their price objective on shares of Howmet Aerospace from $161.00 to $192.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Wells Fargo & Company increased their price objective on shares of Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Howmet Aerospace in a research report on Monday, June 30th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $172.13.

Howmet Aerospace Trading Down 0.5%

HWM traded down $0.91 during trading hours on Friday, reaching $180.67. 1,588,243 shares of the company's stock traded hands, compared to its average volume of 2,884,757. The firm has a market capitalization of $72.83 billion, a PE ratio of 52.83, a PEG ratio of 2.32 and a beta of 1.48. 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 52-week low of $90.71 and a 52-week high of $193.26. The firm has a 50-day moving average price of $179.54 and a 200 day moving average price of $151.08.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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%. Howmet Aerospace's revenue was up 9.2% compared to the same quarter last year. During the same period last year, the firm earned $0.67 earnings per share. As a group, sell-side analysts predict that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently announced 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. The ex-dividend date is Friday, August 8th. This represents a $0.48 annualized dividend and a dividend yield of 0.3%. This is an increase from Howmet Aerospace's previous quarterly dividend of $0.10. Howmet Aerospace's payout ratio is presently 11.70%.

Insider Buying and Selling

In other news, EVP Neil Edward Marchuk sold 30,000 shares of Howmet Aerospace stock in a transaction dated 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 owned 131,859 shares in the company, valued at approximately $20,903,607.27. This trade represents a 18.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John C. Plant sold 800,000 shares of the 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 completion of the transaction, the chief executive officer owned 236,544 shares in the company, valued at approximately $37,127,946.24. The trade was a 77.18% decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

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.