Jupiter Asset Management Ltd. Buys New Stake in Howmet Aerospace Inc. (NYSE:HWM)

Jupiter Asset Management Ltd. purchased a new position in Howmet Aerospace Inc. (NYSE:HWM) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 104,704 shares of the company’s stock, valued at approximately $8,128,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Howmet Aerospace in the 4th quarter worth $508,006,000. Price T Rowe Associates Inc. MD boosted its holdings in Howmet Aerospace by 28.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock worth $966,959,000 after acquiring an additional 3,158,186 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Howmet Aerospace by 18.7% in the first quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock worth $1,223,358,000 after acquiring an additional 2,813,911 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Howmet Aerospace by 986.0% during the first quarter. TD Asset Management Inc now owns 2,697,449 shares of the company’s stock worth $184,586,000 after acquiring an additional 2,449,057 shares during the last quarter. Finally, Capital Research Global Investors acquired a new position in shares of Howmet Aerospace during the first quarter valued at about $148,996,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HWM has been the subject of a number of recent analyst reports. Truist Financial lifted their target price on shares of Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Barclays lifted their price objective on shares of Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada boosted their price target on Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, BTIG Research upped their target price on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.67.

Insiders Place Their Bets

In other news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the completion of the sale, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the sale, 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.

Howmet Aerospace Trading Up 1.1 %

Howmet Aerospace stock opened at $95.28 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.74 and a debt-to-equity ratio of 0.68. The firm has a market cap of $38.89 billion, a PE ratio of 46.03, a P/E/G ratio of 1.41 and a beta of 1.46. The stock’s 50 day simple moving average is $89.72 and its two-hundred day simple moving average is $79.36. Howmet Aerospace Inc. has a 12 month low of $42.94 and a 12 month high of $98.15.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the firm posted $0.44 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Analysts anticipate that Howmet Aerospace Inc. will post 2.59 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were issued a $0.08 dividend. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.34%. Howmet Aerospace’s dividend payout ratio is presently 15.46%.

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.