Wealth Enhancement Advisory Services LLC Buys 98,642 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Wealth Enhancement Advisory Services LLC boosted its stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 233.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,883 shares of the company's stock after purchasing an additional 98,642 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Howmet Aerospace were worth $18,277,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HWM. Murphy & Mullick Capital Management Corp bought a new position in shares of Howmet Aerospace in the 4th quarter valued at $25,000. Meeder Asset Management Inc. increased its holdings in Howmet Aerospace by 208.1% in the 4th quarter. Meeder Asset Management Inc. now owns 228 shares of the company's stock worth $25,000 after purchasing an additional 154 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Howmet Aerospace in the fourth quarter valued at about $25,000. Washington Trust Advisors Inc. acquired a new stake in shares of Howmet Aerospace during the fourth quarter valued at about $29,000. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Howmet Aerospace during the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 90.46% of the company's stock.

Howmet Aerospace Stock Up 1.4%

HWM traded up $2.42 during midday trading on Monday, reaching $175.76. 2,357,246 shares of the company were exchanged, compared to its average volume of 2,717,942. The company has a market cap of $70.95 billion, a price-to-earnings ratio of 58.17, a price-to-earnings-growth ratio of 2.62 and a beta of 1.44. Howmet Aerospace Inc. has a one year low of $76.83 and a one year high of $177.25. The company's fifty day moving average price is $156.18 and its 200 day moving average price is $134.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.07 and a current ratio of 2.30.

Howmet Aerospace (NYSE:HWM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.09. The business 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%. Howmet Aerospace's revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. As a group, analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th were issued a $0.10 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.40 annualized dividend and a dividend yield of 0.23%. Howmet Aerospace's dividend payout ratio is currently 13.03%.

Analyst Ratings Changes

Several research analysts have recently issued reports on HWM shares. Royal Bank Of Canada upped their price objective on Howmet Aerospace from $165.00 to $200.00 and gave the company an "outperform" rating in a research note on Monday, June 9th. Northcoast Research raised shares of Howmet Aerospace from a "sell" rating to a "neutral" rating in a research note on Wednesday, April 9th. Benchmark increased their target price on shares of Howmet Aerospace from $85.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, April 21st. UBS Group lifted their target price on shares of Howmet Aerospace from $120.00 to $155.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, Truist Financial upped their price target on shares of Howmet Aerospace from $161.00 to $192.00 and gave the company a "buy" rating in a research report on Thursday, June 12th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $142.13.

Insider Activity at Howmet Aerospace

In related news, CEO John C. Plant sold 800,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the completion of the sale, the chief executive officer now directly owns 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $4,755,900.00. Following the completion of the transaction, the executive vice president now directly owns 131,859 shares in the company, valued at approximately $20,903,607.27. This represents a 18.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 831,250 shares of company stock valued at $130,517,863 over the last ninety days. Corporate insiders own 1.12% of the company's stock.

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.