Acadian Asset Management LLC Takes $1.51 Million Position in Howmet Aerospace Inc. (NYSE:HWM)

Acadian Asset Management LLC purchased a new stake in Howmet Aerospace Inc. (NYSE:HWM) in the second quarter, according to its most recent filing with the SEC. The fund purchased 19,485 shares of the company’s stock, valued at approximately $1,512,000.

A number of other institutional investors have also made changes to their positions in the company. Cigna Investments Inc. New increased its holdings in shares of Howmet Aerospace by 3.8% in the 2nd quarter. Cigna Investments Inc. New now owns 4,178 shares of the company’s stock valued at $324,000 after acquiring an additional 153 shares during the last quarter. Bleakley Financial Group LLC grew its stake in Howmet Aerospace by 3.2% during the 1st quarter. Bleakley Financial Group LLC now owns 5,080 shares of the company’s stock worth $348,000 after buying an additional 158 shares during the last quarter. HB Wealth Management LLC grew its stake in Howmet Aerospace by 4.9% during the 2nd quarter. HB Wealth Management LLC now owns 3,664 shares of the company’s stock worth $284,000 after buying an additional 171 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Howmet Aerospace by 13.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,820 shares of the company’s stock worth $141,000 after buying an additional 217 shares during the last quarter. Finally, Whittier Trust Co. grew its stake in 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 buying an additional 228 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Trading Up 1.1 %

Shares of Howmet Aerospace stock opened at $95.28 on Monday. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. The firm has a market cap of $38.89 billion, a price-to-earnings ratio of 46.03, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46. The business has a fifty day simple moving average of $89.72 and a 200-day simple moving average of $79.54. Howmet Aerospace Inc. has a fifty-two week low of $42.94 and a fifty-two week high of $98.15.

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

Howmet Aerospace Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, August 9th. Howmet Aerospace’s dividend payout ratio is currently 15.46%.

Insider Activity

In related news, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the transaction, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at $14,982,938.30. The transaction was disclosed in a legal filing 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 company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction 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 $8,985,077.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total value of $14,961,111.22. Following the transaction, the chief financial officer now directly owns 155,135 shares in the company, 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.

Analysts Set New Price Targets

A number of brokerages recently commented on HWM. Truist Financial upped their price objective on Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. BTIG Research upped their price objective on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. KeyCorp boosted their price target on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Royal Bank of Canada boosted their price target on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. boosted their price target on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $90.67.

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.