Assenagon Asset Management S.A. Boosts Stake in Howmet Aerospace Inc. (NYSE:HWM)

Assenagon Asset Management S.A. boosted its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 22.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 388,615 shares of the company’s stock after acquiring an additional 70,648 shares during the quarter. Assenagon Asset Management S.A. owned 0.10% of Howmet Aerospace worth $50,415,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HWM. Private Trust Co. NA grew its holdings in shares of Howmet Aerospace by 28.0% in the fourth quarter. Private Trust Co. NA now owns 407 shares of the company’s stock worth $45,000 after purchasing an additional 89 shares during the last quarter. O Neil Global Advisors Inc. boosted its position in Howmet Aerospace by 0.5% during the 4th quarter. O Neil Global Advisors Inc. now owns 19,527 shares of the company’s stock valued at $2,136,000 after buying an additional 90 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Howmet Aerospace by 4.9% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,971 shares of the company’s stock valued at $256,000 after buying an additional 92 shares during the period. Curated Wealth Partners LLC grew its holdings in Howmet Aerospace by 4.1% in the 1st quarter. Curated Wealth Partners LLC now owns 2,510 shares of the company’s stock worth $326,000 after acquiring an additional 99 shares during the last quarter. Finally, Frank Rimerman Advisors LLC increased its position in shares of Howmet Aerospace by 0.7% in the fourth quarter. Frank Rimerman Advisors LLC now owns 15,035 shares of the company’s stock valued at $1,644,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HWM. Morgan Stanley increased their target price on shares of Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Northcoast Research raised Howmet Aerospace from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 9th. UBS Group lifted their price objective on Howmet Aerospace from $120.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Royal Bank of Canada boosted their target price on Howmet Aerospace from $165.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Barclays raised their price target on Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Howmet Aerospace has an average rating of “Moderate Buy” and a consensus target price of $134.59.

Insiders Place Their Bets

In related news, VP Barbara Lou Shultz sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $155.17, for a total transaction of $193,962.50. Following the completion of the sale, the vice president now owns 23,044 shares of the company’s stock, valued at $3,575,737.48. This trade represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Neil Edward Marchuk sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the completion of the transaction, the executive vice president now owns 131,859 shares of the company’s stock, valued at approximately $20,903,607.27. The trade was a 18.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 831,250 shares of company stock valued at $130,517,863. 1.04% of the stock is currently owned by corporate insiders.

Howmet Aerospace Trading Up 1.3%

Shares of NYSE HWM opened at $170.84 on Thursday. Howmet Aerospace Inc. has a 1 year low of $76.83 and a 1 year high of $177.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98. The firm has a 50-day moving average of $149.22 and a 200 day moving average of $132.08. The stock has a market cap of $68.96 billion, a P/E ratio of 60.58, a price-to-earnings-growth ratio of 1.92 and a beta of 1.44.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Thursday, May 1st. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Friday, May 9th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date was Friday, May 9th. Howmet Aerospace’s payout ratio is 13.03%.

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.