Howmet Aerospace Inc. (NYSE:HWM) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC lowered its position in Howmet Aerospace Inc. (NYSE:HWM) by 8.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,531 shares of the company’s stock after selling 1,983 shares during the quarter. Magnetar Financial LLC’s holdings in Howmet Aerospace were worth $1,671,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cigna Investments Inc. New increased its position in Howmet Aerospace by 3.8% in the second quarter. Cigna Investments Inc. New now owns 4,178 shares of the company’s stock worth $324,000 after buying an additional 153 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of Howmet Aerospace by 3.2% during the 1st quarter. Bleakley Financial Group LLC now owns 5,080 shares of the company’s stock valued at $348,000 after buying an additional 158 shares during the last quarter. HB Wealth Management LLC grew its position in Howmet Aerospace by 4.9% in the second quarter. HB Wealth Management LLC now owns 3,664 shares of the company’s stock worth $284,000 after acquiring an additional 171 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Howmet Aerospace by 13.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,820 shares of the company’s stock worth $141,000 after purchasing an additional 217 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in shares of Howmet Aerospace by 81.4% during the 1st quarter. Whittier Trust Co. now owns 508 shares of the company’s stock valued at $35,000 after acquiring an additional 228 shares during the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Insider Buying and Selling

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction 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 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 SEC, which is available through this hyperlink. 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 stock was 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 in the company, valued at $8,985,077.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. The disclosure for this sale can be found here. 1.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Robert W. Baird increased their target price on Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Benchmark raised their price target on shares of Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Royal Bank of Canada upped their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. KeyCorp boosted their price objective on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their price target on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Howmet Aerospace has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

Howmet Aerospace Stock Performance

Shares of HWM stock opened at $98.63 on Tuesday. Howmet Aerospace Inc. has a 52 week low of $42.94 and a 52 week high of $98.97. 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 firm’s 50-day simple moving average is $91.71 and its two-hundred day simple moving average is $80.74. The firm has a market cap of $40.26 billion, a price-to-earnings ratio of 47.65, a P/E/G ratio of 1.41 and a beta of 1.46.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, beating 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 company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the business earned $0.44 earnings per share. Howmet Aerospace’s revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts forecast that Howmet Aerospace Inc. will post 2.59 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a $0.08 dividend. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.32%. Howmet Aerospace’s payout ratio is presently 15.46%.

Howmet Aerospace Company 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.