BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 569,414 Shares of Howmet Aerospace Inc. (NYSE:HWM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 80.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 138,894 shares of the company’s stock after selling 569,414 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Howmet Aerospace were worth $10,782,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in HWM. Marshall Wace LLP bought a new stake in shares of Howmet Aerospace in the 2nd quarter worth approximately $18,922,000. Xponance Inc. raised its stake in shares of Howmet Aerospace by 5.0% in the second quarter. Xponance Inc. now owns 54,774 shares of the company’s stock valued at $4,252,000 after buying an additional 2,588 shares during the period. Bank of Montreal Can lifted its position in shares of Howmet Aerospace by 25.8% during the 2nd quarter. Bank of Montreal Can now owns 572,029 shares of the company’s stock valued at $45,848,000 after buying an additional 117,437 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of Howmet Aerospace by 67.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 14,955 shares of the company’s stock worth $1,161,000 after acquiring an additional 6,045 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new stake in Howmet Aerospace in the 2nd quarter worth about $4,541,000. Institutional investors own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

HWM has been the subject of a number of research reports. Royal Bank of Canada increased their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Barclays lifted 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. Benchmark increased their target price on Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. KeyCorp lifted their price target on Howmet Aerospace from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird increased their price objective on Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Howmet Aerospace currently has an average rating of “Moderate Buy” and an average price target of $90.67.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace 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 transaction, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s 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 owns 92,687 shares in the company, valued at approximately $8,985,077.78. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.

Howmet Aerospace Stock Up 0.4 %

Shares of Howmet Aerospace stock opened at $99.72 on Thursday. The company has a 50-day simple moving average of $92.06 and a two-hundred day simple moving average of $80.96. Howmet Aerospace Inc. has a 52-week low of $42.94 and a 52-week high of $100.51. 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 capitalization of $40.70 billion, a PE ratio of 48.17, a price-to-earnings-growth ratio of 1.47 and a beta of 1.46.

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. The business had revenue of $1.88 billion during 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%. Howmet Aerospace’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 EPS. On average, analysts anticipate that Howmet Aerospace Inc. will post 2.59 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

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