Envestnet Asset Management Inc. Has $31.22 Million Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Envestnet Asset Management Inc. raised its position in Howmet Aerospace Inc. (NYSE:HWM) by 3.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 402,111 shares of the company’s stock after acquiring an additional 15,167 shares during the period. Envestnet Asset Management Inc. owned approximately 0.10% of Howmet Aerospace worth $31,216,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealthspire Advisors LLC acquired a new stake in Howmet Aerospace in the second quarter valued at approximately $209,000. Blair William & Co. IL boosted its position in shares of Howmet Aerospace by 51.6% during the first quarter. Blair William & Co. IL now owns 25,488 shares of the company’s stock valued at $1,744,000 after buying an additional 8,676 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of Howmet Aerospace by 70.1% during the first quarter. Los Angeles Capital Management LLC now owns 1,273,290 shares of the company’s stock valued at $87,131,000 after buying an additional 524,805 shares during the last quarter. Quadrature Capital Ltd boosted its position in shares of Howmet Aerospace by 303.8% during the fourth quarter. Quadrature Capital Ltd now owns 23,629 shares of the company’s stock valued at $1,279,000 after buying an additional 17,777 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Howmet Aerospace by 67.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 80,414 shares of the company’s stock valued at $5,431,000 after buying an additional 32,431 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

HWM has been the topic of several analyst reports. BTIG Research lifted their target price on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Royal Bank of Canada lifted their target price on Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Truist Financial lifted their target price on Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Robert W. Baird lifted their target price on Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Benchmark lifted their target price on Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $90.67.

Insider Buying and Selling at Howmet Aerospace

In related news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The sale was disclosed in a legal 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 company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the 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 directly owns 92,687 shares in the company, 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

Shares of HWM opened at $97.42 on Friday. The firm has a market cap of $39.77 billion, a PE ratio of 47.06, a PEG ratio of 1.41 and a beta of 1.46. The stock’s fifty day moving average price is $91.31 and its two-hundred day moving average price is $80.37. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74. Howmet Aerospace Inc. has a 1 year low of $42.94 and a 1 year high of $98.29.

Howmet Aerospace (NYSE:HWM) last issued its 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. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.83 billion. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share. On average, equities research analysts forecast that Howmet Aerospace Inc. will post 2.59 EPS for the current year.

Howmet Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a $0.08 dividend. The ex-dividend date was Friday, August 9th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. This represents a $0.32 annualized dividend and a dividend yield of 0.33%. Howmet Aerospace’s 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.