Prudential PLC Sells 7,295 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Prudential PLC has reduced its stake in Howmet Aerospace Inc. by 48%, selling 7,295 shares, leaving it with 7,893 shares valued at approximately $1,024,000.
• Howmet Aerospace reported a quarterly earnings per share of $0.91, exceeding analysts' expectations of $0.87 and representing a 9.2% year-over-year revenue increase.
• The company has increased its quarterly dividend to $0.12 per share, with a yield of 0.3%, marking an increase from the previous quarterly dividend of $0.10.

Prudential PLC lessened its holdings in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 48.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,893 shares of the company's stock after selling 7,295 shares during the period. Prudential PLC's holdings in Howmet Aerospace were worth $1,024,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Resona Asset Management Co. Ltd. grew its position in Howmet Aerospace by 6.7% in the first quarter. Resona Asset Management Co. Ltd. now owns 119,829 shares of the company's stock valued at $15,545,000 after acquiring an additional 7,478 shares during the last quarter. HighTower Advisors LLC grew its position in Howmet Aerospace by 7.2% in the first quarter. HighTower Advisors LLC now owns 29,971 shares of the company's stock valued at $3,888,000 after acquiring an additional 2,008 shares during the last quarter. Public Sector Pension Investment Board grew its position in Howmet Aerospace by 8.1% in the first quarter. Public Sector Pension Investment Board now owns 57,641 shares of the company's stock valued at $7,478,000 after acquiring an additional 4,316 shares during the last quarter. AIA Group Ltd grew its position in Howmet Aerospace by 4.9% in the first quarter. AIA Group Ltd now owns 28,877 shares of the company's stock valued at $3,746,000 after acquiring an additional 1,360 shares during the last quarter. Finally, Motley Fool Asset Management LLC bought a new position in Howmet Aerospace in the first quarter valued at about $2,447,000. Institutional investors own 90.46% of the company's stock.

Howmet Aerospace Price Performance

Howmet Aerospace stock opened at $170.95 on Friday. The stock's 50 day moving average is $179.83 and its 200 day moving average is $152.84. 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 market cap of $68.92 billion, a P/E ratio of 49.99, a P/E/G ratio of 2.28 and a beta of 1.48. Howmet Aerospace Inc. has a one year low of $90.71 and a one year high of $193.26.

Howmet Aerospace (NYSE:HWM - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. Howmet Aerospace had a return on equity of 28.17% and a net margin of 18.09%. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period in the previous year, the firm earned $0.67 earnings per share. The firm's quarterly revenue was up 9.2% on a year-over-year basis. As a group, research analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.3%. This is a boost from Howmet Aerospace's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, August 8th. Howmet Aerospace's payout ratio is presently 14.04%.

Analyst Ratings Changes

Several analysts have recently weighed in on HWM shares. Morgan Stanley boosted their price target on Howmet Aerospace from $170.00 to $210.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Bank of America boosted their price target on Howmet Aerospace from $185.00 to $215.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Barclays restated an "overweight" rating and set a $190.00 price target (up from $140.00) on shares of Howmet Aerospace in a report on Monday, August 4th. Wells Fargo & Company boosted their price target on Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, BTIG Research set a $205.00 price target on Howmet Aerospace and gave the stock a "buy" rating in a report on Monday, August 4th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $172.13.

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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