Lone Pine Capital LLC Acquires New Position in Howmet Aerospace Inc. (NYSE:HWM)

Lone Pine Capital LLC acquired a new stake in Howmet Aerospace Inc. (NYSE:HWM) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,665,321 shares of the company’s stock, valued at approximately $284,539,000. Howmet Aerospace makes up 2.3% of Lone Pine Capital LLC’s holdings, making the stock its 21st largest position.

A number of other hedge funds have also added to or reduced their stakes in HWM. Price T Rowe Associates Inc. MD increased its stake in shares of Howmet Aerospace by 28.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock valued at $966,959,000 after buying an additional 3,158,186 shares during the period. JPMorgan Chase & Co. grew its holdings in Howmet Aerospace by 18.7% during the 1st quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock worth $1,223,358,000 after acquiring an additional 2,813,911 shares in the last quarter. TD Asset Management Inc increased its position in Howmet Aerospace by 986.0% during the 1st quarter. TD Asset Management Inc now owns 2,697,449 shares of the company’s stock valued at $184,586,000 after purchasing an additional 2,449,057 shares during the period. Capital Research Global Investors bought a new stake in shares of Howmet Aerospace in the 1st quarter valued at about $148,996,000. Finally, Vanguard Group Inc. lifted its position in shares of Howmet Aerospace by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock worth $2,448,804,000 after purchasing an additional 1,274,974 shares during the period. 90.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on HWM shares. JPMorgan Chase & Co. lifted their target price on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Robert W. Baird lifted their price objective on shares of Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. KeyCorp increased their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. BTIG Research lifted their price target on shares of Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Northcoast Research reiterated a “sell” rating and set a $70.00 price objective on shares of Howmet Aerospace in a report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Howmet Aerospace currently has an average rating of “Moderate Buy” and an average target price of $90.67.

Insider Transactions at Howmet Aerospace

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 value of $14,961,111.22. Following the completion of the transaction, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at $14,982,938.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace 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 completion of the transaction, the chief financial officer now owns 155,135 shares of the company’s stock, valued at $14,982,938.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the company’s 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 transaction, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $99.32 on Wednesday. Howmet Aerospace Inc. has a twelve month low of $42.94 and a twelve month high of $99.60. The company has a current ratio of 1.53, a quick ratio of 0.74 and a debt-to-equity ratio of 0.68. The company has a market cap of $40.54 billion, a PE ratio of 47.98, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46. The company’s 50 day moving average is $91.71 and its 200 day moving average is $80.74.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data 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. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.83 billion. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 earnings per share. On average, sell-side analysts forecast that Howmet Aerospace Inc. will post 2.59 EPS for the current year.

Howmet Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s payout ratio is 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.