Sage Mountain Advisors LLC Takes $263,000 Position in Howmet Aerospace Inc. (NYSE:HWM)

Sage Mountain Advisors LLC bought a new position in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 2,028 shares of the company's stock, valued at approximately $263,000.

Several other hedge funds have also recently bought and sold shares of HWM. Norges Bank acquired a new stake in shares of Howmet Aerospace in the fourth quarter valued at approximately $1,001,558,000. JPMorgan Chase & Co. raised its holdings in shares of Howmet Aerospace by 14.0% in the fourth quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company's stock valued at $2,209,071,000 after purchasing an additional 2,486,649 shares during the last quarter. Winslow Capital Management LLC acquired a new stake in shares of Howmet Aerospace in the fourth quarter valued at approximately $265,844,000. GAMMA Investing LLC increased its holdings in Howmet Aerospace by 15,741.8% during the first quarter. GAMMA Investing LLC now owns 1,328,176 shares of the company's stock worth $1,723,040,000 after buying an additional 1,319,792 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Howmet Aerospace by 10.3% during the fourth quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company's stock worth $1,197,315,000 after buying an additional 1,026,130 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO John C. Plant sold 800,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 236,544 shares of the company's stock, valued at $37,127,946.24. This represents a 77.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Neil Edward Marchuk sold 30,000 shares of the company's stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 831,250 shares of company stock valued at $130,517,863. 1.04% of the stock is currently owned by corporate insiders.

Howmet Aerospace Price Performance

NYSE HWM traded up $1.86 during trading on Friday, hitting $190.69. 2,265,013 shares of the company's stock were exchanged, compared to its average volume of 3,074,575. The company has a current ratio of 2.30, a quick ratio of 1.07 and a debt-to-equity ratio of 0.70. The company has a market cap of $76.98 billion, a PE ratio of 62.11, a P/E/G ratio of 2.71 and a beta of 1.43. Howmet Aerospace Inc. has a fifty-two week low of $77.49 and a fifty-two week high of $191.61. The stock's 50 day moving average price is $172.73 and its two-hundred day moving average price is $143.51.

Howmet Aerospace (NYSE:HWM - Get Free Report) last issued 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 firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. Howmet Aerospace had a return on equity of 27.25% and a net margin of 16.64%. The business's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Research analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on HWM. Wells Fargo & Company boosted their target price on shares of Howmet Aerospace from $118.00 to $145.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Truist Financial boosted their target price on shares of Howmet Aerospace from $161.00 to $192.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. UBS Group boosted their target price on shares of Howmet Aerospace from $120.00 to $155.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Benchmark boosted their target price on shares of Howmet Aerospace from $85.00 to $135.00 and gave the stock a "buy" rating in a report on Monday, April 21st. Finally, Susquehanna lifted their price objective on shares of Howmet Aerospace from $170.00 to $210.00 and gave the stock a "positive" rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $150.44.

Howmet Aerospace Company 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.