Pacer Advisors Inc. Sells 12,723 Shares of Howmet Aerospace Inc. $HWM

Key Points

• Pacer Advisors cut its Howmet Aerospace stake by 38.1% in the first quarter, selling 12,723 shares and retaining 20,690 shares worth approximately $4.77 million. Institutional investors collectively own 90.46% of HWM.
• Howmet reported strong quarterly results, with EPS of $1.22 and revenue of $2.31 billion, exceeding estimates and reflecting 19.1% year-over-year revenue growth.
• The company raised its quarterly dividend from $0.12 to $0.14 per share. Analysts maintain a “Moderate Buy” consensus, with an average price target of $300.33.

Pacer Advisors Inc. decreased its stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 38.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 20,690 shares of the company's stock after selling 12,723 shares during the period. Pacer Advisors Inc.'s holdings in Howmet Aerospace were worth $4,768,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in HWM. Norges Bank acquired a new position in Howmet Aerospace during the fourth quarter valued at approximately $1,793,698,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Howmet Aerospace by 27.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,632,206 shares of the company's stock worth $3,409,936,000 after buying an additional 3,531,700 shares during the last quarter. Auto Owners Insurance Co boosted its holdings in shares of Howmet Aerospace by 20,402.0% during the 4th quarter. Auto Owners Insurance Co now owns 1,441,906 shares of the company's stock worth $29,562,000 after buying an additional 1,434,873 shares during the period. Amundi boosted its holdings in shares of Howmet Aerospace by 73.1% during the 1st quarter. Amundi now owns 2,185,456 shares of the company's stock worth $503,660,000 after buying an additional 923,061 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Howmet Aerospace by 27.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,754,204 shares of the company's stock worth $564,667,000 after buying an additional 599,151 shares during the period. 90.46% of the stock is owned by institutional investors.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $291.28 on Thursday. The firm has a market capitalization of $116.54 billion, a PE ratio of 67.58, a PEG ratio of 2.26 and a beta of 1.20. The company has a current ratio of 2.44, a quick ratio of 1.59 and a debt-to-equity ratio of 0.73. Howmet Aerospace Inc. has a 1-year low of $169.45 and a 1-year high of $295.28. The business's 50 day moving average is $271.75 and its 200-day moving average is $253.31.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.11. Howmet Aerospace had a return on equity of 29.27% and a net margin of 20.23%.The business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the company posted $0.86 earnings per share. Howmet Aerospace's revenue was up 19.1% on a year-over-year basis. Sell-side analysts predict that Howmet Aerospace Inc. will post 5.05 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 25th. Stockholders of record on Friday, August 7th will be given a dividend of $0.14 per share. This is an increase from Howmet Aerospace's previous quarterly dividend of $0.12. The ex-dividend date is Friday, August 7th. This represents a $0.56 annualized dividend and a dividend yield of 0.2%. Howmet Aerospace's dividend payout ratio (DPR) is presently 12.99%.

Analyst Upgrades and Downgrades

HWM has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $320.00 target price on shares of Howmet Aerospace in a report on Friday, May 8th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $318.00 price target on shares of Howmet Aerospace in a research report on Tuesday, June 16th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Howmet Aerospace in a research report on Friday, July 17th. Morgan Stanley reiterated an "overweight" rating and issued a $315.00 price objective on shares of Howmet Aerospace in a research note on Friday, May 8th. Finally, Wall Street Zen cut Howmet Aerospace from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 5th. Sixteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $300.33.

Insiders Place Their Bets

In related news, EVP Neil Edward Marchuk sold 41,932 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $269.50, for a total value of $11,300,674.00. Following the sale, the executive vice president owned 65,105 shares of the company's stock, valued at $17,545,797.50. The trade was a 39.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.85% of the stock is currently owned by insiders.

Howmet Aerospace Profile

Howmet Aerospace Inc is an industrial technology company that designs, manufactures and repairs engineered metal products for the aerospace, transportation and industrial markets. Its product portfolio includes precision castings and forgings, engineered fasteners, seamless rolled rings, and complex components for turbine engines, airframes and industrial gas turbines. The company also provides aftermarket services such as component repair, overhaul and parts distribution to support the operating fleet of commercial and military customers.

Howmet serves a global customer base of original equipment manufacturers (OEMs) and aftermarket operators, with manufacturing, service and distribution facilities across North America, Europe and Asia.

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