Procyon Advisors LLC Decreases Stake in Howmet Aerospace Inc. (NYSE:HWM)

Procyon Advisors LLC lessened its position in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 18.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,490 shares of the company's stock after selling 3,932 shares during the period. Procyon Advisors LLC's holdings in Howmet Aerospace were worth $2,269,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new position in shares of Howmet Aerospace during the fourth quarter worth $25,000. Meeder Asset Management Inc. lifted its holdings in Howmet Aerospace by 208.1% during the 4th quarter. Meeder Asset Management Inc. now owns 228 shares of the company's stock worth $25,000 after buying an additional 154 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Howmet Aerospace during the 4th quarter worth about $25,000. Washington Trust Advisors Inc. purchased a new position in shares of Howmet Aerospace in the 4th quarter valued at about $29,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Howmet Aerospace during the 4th quarter worth about $30,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Price Performance

Howmet Aerospace stock opened at $175.37 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98. The business has a 50 day simple moving average of $146.40 and a 200-day simple moving average of $130.98. Howmet Aerospace Inc. has a 12 month low of $76.83 and a 12 month high of $177.25. The stock has a market capitalization of $70.79 billion, a PE ratio of 62.19, a price-to-earnings-growth ratio of 1.92 and a beta of 1.37.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.09. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.94 billion. During the same period in the previous year, the company posted $0.53 EPS. Howmet Aerospace's revenue was up 5.5% compared to the same quarter last year. Equities analysts predict that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, May 9th. Howmet Aerospace's dividend payout ratio (DPR) is 13.03%.

Insider Transactions at Howmet Aerospace

In related news, VP Barbara Lou Shultz sold 1,250 shares of the company's stock in a transaction 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 transaction, the vice president now owns 23,044 shares of the company's stock, valued at $3,575,737.48. This represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Neil Edward Marchuk sold 30,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $158.53, for a total value of $4,755,900.00. Following the completion of the sale, the executive vice president now directly owns 131,859 shares of the company's stock, valued at approximately $20,903,607.27. This trade represents a 18.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 831,250 shares of company stock valued at $130,517,863. Corporate insiders own 1.04% of the company's stock.

Analyst Upgrades and Downgrades

HWM has been the subject of a number of research analyst reports. BTIG Research reaffirmed a "buy" rating on shares of Howmet Aerospace in a report on Monday, May 5th. UBS Group increased their target price on shares of Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Barclays lifted their price target on shares of Howmet Aerospace from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. The Goldman Sachs Group upped their price objective on shares of Howmet Aerospace from $124.00 to $139.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Finally, Benchmark raised their price objective on Howmet Aerospace from $85.00 to $135.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $132.53.

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.

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