International Assets Investment Management LLC Acquires 235,426 Shares of Howmet Aerospace Inc. (NYSE:HWM)

International Assets Investment Management LLC raised its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 9,135.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 238,003 shares of the company’s stock after buying an additional 235,426 shares during the period. International Assets Investment Management LLC’s holdings in Howmet Aerospace were worth $238,600,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HWM. Senator Investment Group LP raised its stake in Howmet Aerospace by 24.8% in the 2nd quarter. Senator Investment Group LP now owns 156,000 shares of the company’s stock valued at $12,110,000 after acquiring an additional 31,000 shares during the period. Terra Nova Asset Management LLC acquired a new position in shares of Howmet Aerospace in the third quarter valued at $1,264,000. Wealthspire Advisors LLC bought a new position in shares of Howmet Aerospace in the second quarter valued at about $209,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Howmet Aerospace by 1,258.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,051 shares of the company’s stock worth $206,000 after buying an additional 1,900 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of Howmet Aerospace by 51.6% during the 1st quarter. Blair William & Co. IL now owns 25,488 shares of the company’s stock worth $1,744,000 after buying an additional 8,676 shares during the period. 90.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction that occurred 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 approximately $8,985,077.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $14,982,938.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the sale, the executive vice president now directly owns 92,687 shares in the company, valued at $8,985,077.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by corporate insiders.

Howmet Aerospace Stock Performance

Shares of NYSE:HWM opened at $100.62 on Friday. Howmet Aerospace Inc. has a 1 year low of $42.94 and a 1 year high of $106.93. The stock has a market capitalization of $41.07 billion, a price-to-earnings ratio of 48.61, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. 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 company’s 50 day simple moving average is $98.58 and its 200 day simple moving average is $86.12.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share (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 company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the company posted $0.44 EPS. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, research analysts predict that Howmet Aerospace Inc. will post 2.59 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. Howmet Aerospace’s dividend payout ratio (DPR) is currently 15.46%.

Analyst Ratings Changes

Several equities research analysts have issued reports on HWM shares. JPMorgan Chase & Co. raised their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. BTIG Research lifted their price target on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Sanford C. Bernstein upped their price objective on Howmet Aerospace from $113.00 to $127.00 and gave the company an “outperform” rating in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their target price on Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Truist Financial upped their price target on shares of Howmet Aerospace from $105.00 to $123.00 and gave the company a “buy” rating in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Howmet Aerospace currently has an average rating of “Moderate Buy” and a consensus target price of $101.50.

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.