Chase Investment Counsel Corp Raises Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Chase Investment Counsel Corp boosted its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,814 shares of the company’s stock after acquiring an additional 1,138 shares during the quarter. Howmet Aerospace accounts for 1.3% of Chase Investment Counsel Corp’s holdings, making the stock its 25th largest position. Chase Investment Counsel Corp’s holdings in Howmet Aerospace were worth $3,944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of HWM. Lone Pine Capital LLC acquired a new stake in shares of Howmet Aerospace during the 2nd quarter worth approximately $284,539,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Howmet Aerospace by 28.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock valued at $966,959,000 after purchasing an additional 3,158,186 shares during the period. JPMorgan Chase & Co. grew its position in Howmet Aerospace by 18.7% during the first quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock valued at $1,223,358,000 after buying an additional 2,813,911 shares during the period. TD Asset Management Inc increased its holdings in Howmet Aerospace by 986.0% in the first quarter. TD Asset Management Inc now owns 2,697,449 shares of the company’s stock valued at $184,586,000 after buying an additional 2,449,057 shares in the last quarter. Finally, Capital Research Global Investors acquired a new position in shares of Howmet Aerospace in the first quarter worth about $148,996,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Truist Financial raised their price objective on Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Barclays upped their target price on Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. KeyCorp lifted their price target on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada upped their price objective on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.93.

Insider Activity

In other news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction that occurred 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 owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction 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 in the company, valued at $14,982,938.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction on Friday, August 23rd. The stock was 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 owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.

Howmet Aerospace Stock Performance

NYSE:HWM opened at $99.21 on Monday. The company has a market cap of $40.50 billion, a P/E ratio of 47.93, a P/E/G ratio of 1.47 and a beta of 1.46. The company has a current ratio of 1.53, a quick ratio of 0.74 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 $100.62. The company’s 50-day moving average price is $93.34 and its 200-day moving average price is $81.68.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results 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. 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 analyst estimates of $1.83 billion. During the same period in the prior year, the business earned $0.44 earnings per share. The business’s revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts forecast that Howmet Aerospace Inc. will post 2.59 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 8th. This represents a $0.32 annualized dividend and a dividend yield of 0.32%. Howmet Aerospace’s dividend payout ratio 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.