abrdn plc Acquires 5,146 Shares of Howmet Aerospace Inc. (NYSE:HWM)

abrdn plc lifted its stake in Howmet Aerospace Inc. (NYSE:HWM) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,774 shares of the company’s stock after purchasing an additional 5,146 shares during the quarter. abrdn plc’s holdings in Howmet Aerospace were worth $14,956,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in HWM. Cultivar Capital Inc. purchased a new position in Howmet Aerospace in the 2nd quarter worth approximately $26,000. LGT Financial Advisors LLC raised its stake in shares of Howmet Aerospace by 278.7% in the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after purchasing an additional 262 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Howmet Aerospace during the second quarter valued at $32,000. Versant Capital Management Inc boosted its position in shares of Howmet Aerospace by 1,209.1% during the second quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock valued at $34,000 after buying an additional 399 shares during the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Howmet Aerospace during the second quarter valued at $36,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Analysts Set New Price Targets

HWM has been the topic of a number of research analyst reports. Benchmark increased their price objective on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Truist Financial increased their target price on Howmet Aerospace from $105.00 to $123.00 and gave the company a “buy” rating in a report on Friday, October 18th. Susquehanna assumed coverage on shares of Howmet Aerospace in a research report on Tuesday, October 8th. They set a “positive” rating and a $120.00 price target for the company. Finally, Robert W. Baird raised their price objective on shares of Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $101.50.

Insider Buying and Selling at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace 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 owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were 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 of the company’s stock, valued at approximately $8,985,077.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ken Giacobbe sold 154,909 shares of the company’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 directly owns 155,135 shares in the company, valued at $14,982,938.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock opened at $100.03 on Friday. The company has a 50 day moving average price of $99.22 and a 200 day moving average price of $87.71. The firm has a market capitalization of $40.83 billion, a P/E ratio of 44.26, a PEG ratio of 1.47 and a beta of 1.46. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. Howmet Aerospace Inc. has a 52 week low of $47.72 and a 52 week high of $106.93.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) 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 analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $0.44 earnings per share. Sell-side analysts expect that Howmet Aerospace Inc. will post 2.59 EPS for the current year.

Howmet Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be given a dividend of $0.08 per share. The ex-dividend date 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 14.16%.

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.