Dai ichi Life Insurance Company Ltd Trims Stake in Howmet Aerospace Inc. (NYSE:HWM)

Dai ichi Life Insurance Company Ltd lowered its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 11.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,949 shares of the company’s stock after selling 1,169 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Howmet Aerospace were worth $695,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of HWM. Cultivar Capital Inc. purchased a new position in Howmet Aerospace in the 2nd quarter worth approximately $26,000. LGT Financial Advisors LLC grew its position in Howmet Aerospace by 278.7% during the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock valued at $28,000 after acquiring an additional 262 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Howmet Aerospace during the second quarter worth approximately $32,000. Versant Capital Management Inc grew its holdings 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 valued at $34,000 after purchasing an additional 399 shares during the last quarter. Finally, Whittier Trust Co. lifted its stake in Howmet Aerospace by 81.4% in the first quarter. Whittier Trust Co. now owns 508 shares of the company’s stock worth $35,000 after purchasing an additional 228 shares during the last quarter. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Down 0.1 %

HWM opened at $95.14 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. Howmet Aerospace Inc. has a twelve month low of $42.94 and a twelve month high of $98.15. The stock has a market capitalization of $38.83 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 1.41 and a beta of 1.46. The firm has a 50 day moving average price of $90.02 and a 200-day moving average price of $79.74.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. Howmet Aerospace’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. Equities research analysts forecast 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. Stockholders of record on Friday, August 9th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Friday, August 9th. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s dividend payout ratio (DPR) is currently 15.46%.

Insider Activity

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Ken Giacobbe sold 154,909 shares of the 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 completion of the sale, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at $14,982,938.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 completion of 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 disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HWM. JPMorgan Chase & Co. boosted their target price on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Benchmark upped their price target on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 12th. KeyCorp boosted their price objective on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Northcoast Research reiterated a “sell” rating and set a $70.00 target price on shares of Howmet Aerospace in a report on Friday, June 14th. Finally, Truist Financial increased their price objective on Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.67.

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.