Retirement Systems of Alabama raised its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 16.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 430,250 shares of the company's stock after buying an additional 61,851 shares during the quarter. Retirement Systems of Alabama owned about 0.11% of Howmet Aerospace worth $55,816,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of HWM. Brighton Jones LLC lifted its holdings in shares of Howmet Aerospace by 5.4% during the fourth quarter. Brighton Jones LLC now owns 2,548 shares of the company's stock worth $279,000 after buying an additional 130 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of Howmet Aerospace by 8.9% in the fourth quarter. Vontobel Holding Ltd. now owns 4,222 shares of the company's stock valued at $462,000 after purchasing an additional 346 shares in the last quarter. Principal Securities Inc. raised its stake in shares of Howmet Aerospace by 23.9% in the fourth quarter. Principal Securities Inc. now owns 6,872 shares of the company's stock valued at $752,000 after purchasing an additional 1,325 shares in the last quarter. Allworth Financial LP raised its stake in shares of Howmet Aerospace by 47.6% in the fourth quarter. Allworth Financial LP now owns 1,959 shares of the company's stock valued at $214,000 after purchasing an additional 632 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its stake in shares of Howmet Aerospace by 6.7% in the fourth quarter. Sanctuary Advisors LLC now owns 31,423 shares of the company's stock valued at $3,437,000 after purchasing an additional 1,963 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on HWM. Benchmark upped their target price on Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a research note on Monday, April 21st. Royal Bank Of Canada upped their target price on Howmet Aerospace from $165.00 to $200.00 and gave the company an "outperform" rating in a research note on Monday, June 9th. UBS Group upped their target price on Howmet Aerospace from $120.00 to $155.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. BTIG Research restated a "buy" rating on shares of Howmet Aerospace in a research note on Monday, May 5th. Finally, Northcoast Research upgraded Howmet Aerospace from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $142.13.
Read Our Latest Analysis on Howmet Aerospace
Insider Transactions at Howmet Aerospace
In other news, VP Barbara Lou Shultz sold 1,250 shares of the 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 sale, the vice president now owns 23,044 shares in the company, valued at approximately $3,575,737.48. This represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. Plant sold 800,000 shares of the 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 sale, the chief executive officer now owns 236,544 shares in the company, valued at $37,127,946.24. The trade was a 77.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 831,250 shares of company stock worth $130,517,863. Insiders own 1.04% of the company's stock.
Howmet Aerospace Stock Performance
Shares of NYSE:HWM opened at $170.16 on Friday. The business's fifty day moving average price is $155.24 and its two-hundred day moving average price is $134.31. Howmet Aerospace Inc. has a fifty-two week low of $76.83 and a fifty-two week high of $177.25. The stock has a market capitalization of $68.69 billion, a price-to-earnings ratio of 55.43, a price-to-earnings-growth ratio of 2.57 and a beta of 1.44. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.30 and a quick ratio of 1.07.
Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.94 billion. Howmet Aerospace had a return on equity of 27.25% and a net margin of 16.64%. The business's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.53 earnings per share. As a group, analysts predict that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.
Howmet Aerospace Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Friday, May 9th. Howmet Aerospace's payout ratio is presently 13.03%.
Howmet Aerospace Profile
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Free Report)
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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