Howmet Aerospace Inc. (NYSE:HWM) Stake Boosted by Senator Investment Group LP

Senator Investment Group LP increased its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 24.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,000 shares of the company’s stock after acquiring an additional 31,000 shares during the period. Senator Investment Group LP’s holdings in Howmet Aerospace were worth $12,110,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Cultivar Capital Inc. acquired a new stake in shares of Howmet Aerospace during the 2nd quarter valued at about $26,000. LGT Financial Advisors LLC lifted its stake in Howmet Aerospace by 278.7% in the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock valued at $28,000 after acquiring an additional 262 shares during the last quarter. Rothschild Investment LLC bought a new stake in Howmet Aerospace in the second quarter worth approximately $32,000. Versant Capital Management Inc increased its stake in shares of Howmet Aerospace by 1,209.1% during the 2nd quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock worth $34,000 after purchasing an additional 399 shares during the last quarter. Finally, Whittier Trust Co. raised 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 purchasing an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Insider Buying and Selling at Howmet Aerospace

In other news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction 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 approximately $14,982,938.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction 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 completion of the transaction, 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 accessible through this hyperlink. Also, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were 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 owns 155,135 shares in the company, valued at approximately $14,982,938.30. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on HWM shares. JPMorgan Chase & Co. upped their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. BTIG Research increased their price objective on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 5th. Royal Bank of Canada boosted their target price on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Truist Financial increased their price target on Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Northcoast Research restated a “sell” rating and issued a $70.00 price objective on shares of Howmet Aerospace in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.93.

Howmet Aerospace Stock Performance

NYSE:HWM opened at $99.21 on Monday. 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 moving average is $93.34 and its 200-day moving average is $81.68. Howmet Aerospace Inc. has a 52-week low of $42.94 and a 52-week high of $100.62. The company has a market cap of $40.50 billion, a price-to-earnings ratio of 47.93, a PEG ratio of 1.47 and a beta of 1.46.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 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 firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the prior year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts anticipate that Howmet Aerospace Inc. will post 2.59 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.32%. Howmet Aerospace’s dividend payout ratio is currently 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.