Vanguard Group Inc. Acquires 695,953 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Key Points

• Vanguard Group Inc. has increased its stake in Howmet Aerospace by 1.5%, now owning approximately 11.84% of the company, valued at $6.20 billion as of the latest SEC filing.
• Howmet Aerospace recently reported earnings of $0.91 EPS, exceeding analyst expectations and reflecting a 9.2% revenue increase from the previous year.
• The company has announced a dividend increase to $0.12 per share, with an ex-dividend date set for August 8th, signaling positive shareholder returns.

Vanguard Group Inc. increased its stake in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,813,262 shares of the company's stock after buying an additional 695,953 shares during the quarter. Vanguard Group Inc. owned 11.84% of Howmet Aerospace worth $6,202,814,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. CVA Family Office LLC grew its holdings in Howmet Aerospace by 15.7% during the first quarter. CVA Family Office LLC now owns 605 shares of the company's stock valued at $78,000 after purchasing an additional 82 shares during the period. Mount Lucas Management LP lifted its position in shares of Howmet Aerospace by 3.2% during the 1st quarter. Mount Lucas Management LP now owns 2,661 shares of the company's stock valued at $345,000 after buying an additional 82 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Howmet Aerospace by 4.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,971 shares of the company's stock worth $256,000 after acquiring an additional 92 shares during the period. Nilsine Partners LLC increased its holdings in Howmet Aerospace by 3.9% in the 1st quarter. Nilsine Partners LLC now owns 2,461 shares of the company's stock worth $319,000 after acquiring an additional 93 shares during the last quarter. Finally, Argentarii LLC increased its holdings in Howmet Aerospace by 1.1% in the 1st quarter. Argentarii LLC now owns 9,054 shares of the company's stock worth $1,175,000 after acquiring an additional 98 shares during the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, CEO John C. Plant sold 800,000 shares of Howmet Aerospace stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the transaction, the chief executive officer directly owned 236,544 shares of the company's stock, valued at approximately $37,127,946.24. This trade represents a 77.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Neil Edward Marchuk sold 30,000 shares of the business'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 completion of the sale, 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 disclosure for this sale can be found here. 1.04% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HWM. Royal Bank Of Canada reiterated an "outperform" rating on shares of Howmet Aerospace in a research report on Monday, June 30th. Truist Financial raised their price objective 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. Barclays reiterated an "overweight" rating and issued a $190.00 price objective (up from $140.00) on shares of Howmet Aerospace in a research note on Monday. JPMorgan Chase & Co. increased their target price on Howmet Aerospace from $150.00 to $190.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Morgan Stanley raised 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. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Howmet Aerospace has a consensus rating of "Moderate Buy" and an average target price of $172.13.

Howmet Aerospace Price Performance

Shares of Howmet Aerospace stock traded down $0.91 on Friday, hitting $180.67. 1,588,243 shares of the company traded hands, compared to its average volume of 2,884,757. The firm's 50-day simple moving average is $179.54 and its 200 day simple moving average is $151.08. The company has a current ratio of 2.31, a quick ratio of 1.08 and a debt-to-equity ratio of 0.65. The company has a market cap of $72.83 billion, a P/E ratio of 52.83, a P/E/G ratio of 2.32 and a beta of 1.48. Howmet Aerospace Inc. has a 12-month low of $90.71 and a 12-month high of $193.26.

Howmet Aerospace (NYSE:HWM - Get Free Report) last released its quarterly 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 return on equity of 28.17% and a net margin of 18.09%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter last year, the business posted $0.67 earnings per share. The company's revenue for the quarter was up 9.2% on a year-over-year basis. Analysts expect that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently announced 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 is an increase from Howmet Aerospace's previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, August 8th. Howmet Aerospace's payout ratio is currently 11.70%.

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.