M&T Bank Corp Sells 1,818 Shares of Howmet Aerospace Inc. (NYSE:HWM)

M&T Bank Corp lessened its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,759 shares of the company's stock after selling 1,818 shares during the period. M&T Bank Corp's holdings in Howmet Aerospace were worth $4,121,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in HWM. Stratos Wealth Partners LTD. grew its position in Howmet Aerospace by 1.1% during the first quarter. Stratos Wealth Partners LTD. now owns 127,950 shares of the company's stock worth $16,599,000 after buying an additional 1,361 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Howmet Aerospace by 3.0% during the 1st quarter. Crossmark Global Holdings Inc. now owns 17,901 shares of the company's stock valued at $2,322,000 after acquiring an additional 516 shares during the period. U.S. Capital Wealth Advisors LLC lifted its position in shares of Howmet Aerospace by 2.5% during the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 71,556 shares of the company's stock valued at $9,283,000 after acquiring an additional 1,743 shares during the period. BOCHK Asset Management Ltd acquired a new stake in shares of Howmet Aerospace during the 1st quarter worth $649,000. Finally, Envestnet Asset Management Inc. increased its position in shares of Howmet Aerospace by 10.7% in the first quarter. Envestnet Asset Management Inc. now owns 527,039 shares of the company's stock worth $68,373,000 after purchasing an additional 50,988 shares during the period. 90.46% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on HWM. Northcoast Research raised Howmet Aerospace from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. Wells Fargo & Company boosted 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 report on Friday, May 2nd. Benchmark increased their price target on shares of Howmet Aerospace from $85.00 to $135.00 and gave the stock a "buy" rating in a research 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 company a "neutral" rating in a research note on Friday, May 2nd. Finally, Truist Financial upped their target price 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 equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $142.13.

Howmet Aerospace Stock Down 1.6%

Shares of HWM opened at $178.59 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.07 and a current ratio of 2.30. Howmet Aerospace Inc. has a 52 week low of $77.22 and a 52 week high of $187.51. The stock has a market capitalization of $72.09 billion, a price-to-earnings ratio of 58.17, a PEG ratio of 2.73 and a beta of 1.43. The stock has a fifty day moving average of $169.87 and a 200-day moving average of $141.00.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued its 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. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.94 billion. Howmet Aerospace had a return on equity of 27.25% and a net margin of 16.64%. The business's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 EPS. As a group, sell-side analysts anticipate that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Insider Transactions at Howmet Aerospace

In related news, CEO John C. Plant sold 800,000 shares of the firm's stock in a transaction that occurred on 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 $37,127,946.24. This trade represents a 77.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Barbara Lou Shultz sold 1,250 shares of Howmet Aerospace stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $155.17, for a total transaction of $193,962.50. Following the sale, the vice president owned 23,044 shares in the company, valued at approximately $3,575,737.48. This represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 831,250 shares of company stock worth $130,517,863. Insiders own 1.04% of the company's stock.

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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