Driehaus Capital Management LLC Has $10.15 Million Stake in Howmet Aerospace Inc. (NYSE:HWM)

Driehaus Capital Management LLC decreased its position in Howmet Aerospace Inc. (NYSE:HWM) by 61.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,747 shares of the company’s stock after selling 207,990 shares during the quarter. Driehaus Capital Management LLC’s holdings in Howmet Aerospace were worth $10,150,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in HWM. Cigna Investments Inc. New grew its holdings in Howmet Aerospace by 3.8% during the second quarter. Cigna Investments Inc. New now owns 4,178 shares of the company’s stock valued at $324,000 after purchasing an additional 153 shares during the period. Bleakley Financial Group LLC boosted its stake in shares of Howmet Aerospace by 3.2% in the 1st quarter. Bleakley Financial Group LLC now owns 5,080 shares of the company’s stock valued at $348,000 after purchasing an additional 158 shares in the last quarter. HB Wealth Management LLC boosted its position in Howmet Aerospace by 4.9% during the second quarter. HB Wealth Management LLC now owns 3,664 shares of the company’s stock valued at $284,000 after buying an additional 171 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings 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 valued at $141,000 after acquiring an additional 217 shares during the period. Finally, Whittier Trust Co. lifted its position in Howmet Aerospace by 81.4% in the first quarter. Whittier Trust Co. now owns 508 shares of the company’s stock valued at $35,000 after purchasing an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Down 0.1 %

HWM opened at $99.21 on Monday. Howmet Aerospace Inc. has a fifty-two week low of $42.94 and a fifty-two week high of $100.62. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53. The stock has a market cap of $40.50 billion, a price-to-earnings ratio of 47.93, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46. The firm’s fifty day moving average is $93.34 and its 200 day moving average is $81.68.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share 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 during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. Howmet Aerospace’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, sell-side analysts forecast that Howmet Aerospace Inc. will post 2.59 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 annualized dividend and a yield of 0.32%. Howmet Aerospace’s dividend payout ratio (DPR) is currently 15.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HWM shares. Benchmark lifted their price objective on Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Barclays raised their price objective on shares of Howmet Aerospace from $85.00 to $100.00 and gave the company 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 stock an “outperform” rating in a research note on Wednesday, July 31st. Northcoast Research reiterated a “sell” rating and issued a $70.00 price target on shares of Howmet Aerospace in a research note on Friday, June 14th. Finally, BTIG Research lifted their price objective on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, August 5th. One 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $92.93.

Insider Activity at Howmet Aerospace

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

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.