Ensign Peak Advisors Inc Sells 10,800 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Ensign Peak Advisors Inc trimmed its position in Howmet Aerospace Inc. (NYSE:HWM) by 6.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 155,533 shares of the company’s stock after selling 10,800 shares during the period. Ensign Peak Advisors Inc’s holdings in Howmet Aerospace were worth $12,074,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of HWM. Wealthspire Advisors LLC purchased a new stake in shares of Howmet Aerospace during the 2nd quarter worth approximately $209,000. Blair William & Co. IL boosted its position in Howmet Aerospace by 51.6% during the first quarter. Blair William & Co. IL now owns 25,488 shares of the company’s stock worth $1,744,000 after purchasing an additional 8,676 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Howmet Aerospace by 70.1% in the first quarter. Los Angeles Capital Management LLC now owns 1,273,290 shares of the company’s stock worth $87,131,000 after purchasing an additional 524,805 shares in the last quarter. Quadrature Capital Ltd raised its holdings in Howmet Aerospace by 303.8% during the 4th quarter. Quadrature Capital Ltd now owns 23,629 shares of the company’s stock valued at $1,279,000 after acquiring an additional 17,777 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Howmet Aerospace by 67.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 80,414 shares of the company’s stock valued at $5,431,000 after purchasing an additional 32,431 shares during the period. Institutional investors own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Royal Bank of Canada raised their target price on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Barclays upped their target price on shares of Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. BTIG Research raised their price target on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 5th. Truist Financial upped their price target on shares of Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Robert W. Baird increased their price objective on Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.67.

Howmet Aerospace Stock Performance

NYSE:HWM opened at $98.63 on Tuesday. Howmet Aerospace Inc. has a 1-year low of $42.94 and a 1-year high of $98.97. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74. The business has a 50 day moving average of $91.71 and a 200 day moving average of $80.74. The company has a market capitalization of $40.26 billion, a price-to-earnings ratio of 47.65, a PEG ratio of 1.41 and a beta of 1.46.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 earnings per share (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 net margin of 13.15% and a return on equity of 23.02%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. On average, sell-side analysts predict that Howmet Aerospace Inc. will post 2.59 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

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

Insider Transactions at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $8,985,077.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction on Friday, August 23rd. The shares were 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 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 dated 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 in the company, valued at approximately $14,982,938.30. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

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.