Renasant Bank Invests $234,000 in Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Renasant Bank has acquired 1,800 shares of Howmet Aerospace Inc., valued at approximately $234,000, signaling institutional interest in the company.
• Executives of Howmet Aerospace, including CEO John C. Plant, have significantly sold shares this month, with Plant selling 800,000 shares worth about $125.5 million, resulting in a 77.18% decrease in his ownership stake.
• Analysts are optimistic about Howmet Aerospace's growth, with target prices raised by Barclays and Morgan Stanley to between $190.00 and $210.00, indicating strong potential for future performance.

Renasant Bank acquired a new position in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,800 shares of the company's stock, valued at approximately $234,000.

A number of other large investors have also recently bought and sold shares of HWM. Aster Capital Management DIFC Ltd bought a new stake in shares of Howmet Aerospace during the fourth quarter valued at approximately $25,000. Kapitalo Investimentos Ltda acquired a new stake in Howmet Aerospace in the 4th quarter valued at $30,000. GPS Wealth Strategies Group LLC grew its position in Howmet Aerospace by 114.6% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 264 shares of the company's stock valued at $34,000 after purchasing an additional 141 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its stake in Howmet Aerospace by 100.7% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 279 shares of the company's stock valued at $36,000 after purchasing an additional 140 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in Howmet Aerospace during the first quarter worth $37,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Trading Down 0.5%

Howmet Aerospace stock traded down $0.91 during mid-day trading on Friday, reaching $180.67. 1,588,243 shares of the company 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. Howmet Aerospace Inc. has a 52-week low of $90.71 and a 52-week high of $193.26. The firm has a market capitalization 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. The firm's 50 day moving average price is $179.54 and its 200 day moving average price is $151.08.

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

Howmet Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, August 8th. This is a positive change from Howmet Aerospace's previous quarterly dividend of $0.10. Howmet Aerospace's dividend payout ratio (DPR) is presently 11.70%.

Insider Transactions at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 30,000 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John C. Plant sold 800,000 shares of Howmet Aerospace stock in a transaction dated 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 owned 236,544 shares of the company's stock, valued at $37,127,946.24. The trade was a 77.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HWM. Truist Financial lifted their price objective on shares of Howmet Aerospace from $161.00 to $192.00 and gave the company a "buy" rating in a report on Thursday, June 12th. Barclays reaffirmed an "overweight" rating and set a $190.00 price objective (up from $140.00) on shares of Howmet Aerospace in a report on Monday. BTIG Research set a $205.00 target price on shares of Howmet Aerospace and gave the stock a "buy" rating in a research note on Monday. Royal Bank Of Canada reissued an "outperform" rating on shares of Howmet Aerospace in a research report on Monday, June 30th. Finally, Benchmark upped their price objective 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. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $172.13.

Howmet Aerospace 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.