Nicholas Hoffman & Company LLC. Acquires 2,034 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Nicholas Hoffman & Company LLC has increased its holdings in Howmet Aerospace Inc. by 81.4%, now owning shares valued at $588,000 following recent acquisitions.
• CEO John C. Plant sold 800,000 shares of Howmet Aerospace for approximately $125.57 million, marking a significant decrease in his ownership stake.
• Howmet Aerospace recently announced a dividend increase from $0.10 to $0.12 per share, which will be paid on August 25th, 2023, reflecting confidence in its financial health.

Nicholas Hoffman & Company LLC. raised its position in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 81.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,534 shares of the company's stock after purchasing an additional 2,034 shares during the period. Nicholas Hoffman & Company LLC.'s holdings in Howmet Aerospace were worth $588,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Winslow Capital Management LLC bought a new position in Howmet Aerospace in the fourth quarter valued at approximately $265,844,000. GAMMA Investing LLC raised its holdings in shares of Howmet Aerospace by 15,741.8% during the first quarter. GAMMA Investing LLC now owns 1,328,176 shares of the company's stock worth $1,723,040,000 after acquiring an additional 1,319,792 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of Howmet Aerospace during the first quarter worth $147,251,000. Janus Henderson Group PLC lifted its position in Howmet Aerospace by 10.3% in the 4th quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company's stock valued at $1,197,315,000 after acquiring an additional 1,026,130 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI acquired a new position in Howmet Aerospace in the 4th quarter worth $102,996,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO John C. Plant sold 800,000 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $156.96, for a total value of $125,568,000.00. Following the completion of 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 document filed with the SEC, which is available through the SEC website. Also, EVP Neil Edward Marchuk sold 30,000 shares of Howmet Aerospace stock in a transaction on 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 sale, the executive vice president directly owned 131,859 shares of the company's stock, valued at $20,903,607.27. This represents a 18.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.04% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on HWM shares. Barclays reissued an "overweight" rating and issued a $190.00 price target (up previously from $140.00) on shares of Howmet Aerospace in a research note on Monday. UBS Group lifted their target price on Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. 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. BTIG Research set a $205.00 target price on Howmet Aerospace and gave the company a "buy" rating in a research report on Monday. Finally, Vertical Research reissued a "buy" rating on shares of Howmet Aerospace in a research report on Thursday, July 31st. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Howmet Aerospace has an average rating of "Moderate Buy" and an average price target of $172.13.

Howmet Aerospace Stock Performance

Howmet Aerospace stock traded down $0.91 during mid-day trading on Friday, hitting $180.67. 1,588,243 shares of the company's stock traded hands, compared to its average volume of 2,884,757. 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 firm has a 50 day simple moving average of $179.54 and a two-hundred day simple moving average of $151.08. Howmet Aerospace Inc. has a fifty-two week low of $90.71 and a fifty-two week high of $193.26. The stock has a market cap of $72.83 billion, a price-to-earnings 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 issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.99 billion. Howmet Aerospace had a net margin of 18.09% and a return on equity of 28.17%. The company's revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 earnings per share. On average, research analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

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

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.