Louisiana State Employees Retirement System Sells 900 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Louisiana State Employees Retirement System lessened its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,900 shares of the company’s stock after selling 900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Howmet Aerospace were worth $1,700,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cultivar Capital Inc. bought a new position in shares of Howmet Aerospace during the 2nd quarter worth about $26,000. Versant Capital Management Inc boosted its position in shares of Howmet Aerospace by 1,209.1% during the 2nd quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock worth $34,000 after purchasing an additional 399 shares in the last quarter. Whittier Trust Co. boosted its position in shares of Howmet Aerospace by 81.4% during the 1st quarter. Whittier Trust Co. now owns 508 shares of the company’s stock worth $35,000 after purchasing an additional 228 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Howmet Aerospace by 62.9% in the 4th quarter. Quadrant Capital Group LLC now owns 976 shares of the company’s stock valued at $53,000 after acquiring an additional 377 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new position in Howmet Aerospace in the 1st quarter valued at about $68,000. Institutional investors own 90.46% of the company’s stock.

Insider Transactions at Howmet Aerospace

In other news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of the sale, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Neil Edward Marchuk sold 32,614 shares of Howmet Aerospace stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $84.26, for a total value of $2,748,055.64. Following the completion of the transaction, the executive vice president now directly owns 217,687 shares in the company, valued at approximately $18,342,306.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of the transaction, the chief financial officer now owns 155,135 shares of the company’s stock, valued at $14,982,938.30. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on HWM. Benchmark raised their price target on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Northcoast Research reaffirmed a “sell” rating and issued a $70.00 price target on shares of Howmet Aerospace in a research report on Friday, June 14th. Truist Financial raised their price target on shares of Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group raised their price target on shares of Howmet Aerospace from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $90.67.

Howmet Aerospace Trading Up 0.5 %

Shares of HWM stock opened at $97.08 on Friday. The company has a 50 day moving average of $84.96 and a 200-day moving average of $76.06. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. Howmet Aerospace Inc. has a 12-month low of $42.94 and a 12-month high of $97.57. The firm has a market cap of $39.63 billion, a P/E ratio of 46.90, a PEG ratio of 1.58 and a beta of 1.45.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business posted $0.44 EPS. Howmet Aerospace’s quarterly revenue was up 14.1% compared to the same quarter last year. Sell-side analysts anticipate that Howmet Aerospace Inc. will post 2.6 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.33%. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s dividend payout ratio (DPR) is presently 15.46%.

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.