Convergence Investment Partners LLC Invests $943,000 in Howmet Aerospace Inc. (NYSE:HWM)

Convergence Investment Partners LLC bought a new stake in Howmet Aerospace Inc. (NYSE:HWM) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,270 shares of the company’s stock, valued at approximately $943,000.

Several other large investors also recently made changes to their positions in the business. CVA Family Office LLC increased its position in Howmet Aerospace by 15.7% during the 1st quarter. CVA Family Office LLC now owns 605 shares of the company’s stock worth $78,000 after buying an additional 82 shares during the period. Mount Lucas Management LP lifted its position in shares of Howmet Aerospace by 3.2% in the 1st quarter. Mount Lucas Management LP now owns 2,661 shares of the company’s stock worth $345,000 after purchasing an additional 82 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of Howmet Aerospace by 4.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,971 shares of the company’s stock valued at $256,000 after acquiring an additional 92 shares in the last quarter. Nilsine Partners LLC increased its stake in Howmet Aerospace by 3.9% during the 1st quarter. Nilsine Partners LLC now owns 2,461 shares of the company’s stock valued at $319,000 after purchasing an additional 93 shares in the last quarter. Finally, Argentarii LLC boosted its position in shares of Howmet Aerospace by 1.1% during the first quarter. Argentarii LLC now owns 9,054 shares of the company’s stock valued at $1,175,000 after buying an additional 98 shares during the last quarter. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $186.34 on Thursday. The business has a 50 day moving average price of $175.06 and a 200 day moving average price of $145.62. Howmet Aerospace Inc. has a twelve month low of $79.49 and a twelve month high of $191.61. The company has a quick ratio of 1.07, a current ratio of 2.30 and a debt-to-equity ratio of 0.70. The company has a market cap of $75.22 billion, a price-to-earnings ratio of 60.70, a PEG ratio of 2.69 and a beta of 1.43.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Thursday, May 1st. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.09. Howmet Aerospace had a net margin of 16.64% and a return on equity of 27.25%. The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the business posted $0.53 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts predict that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Howmet Aerospace in a research report on Monday, June 30th. UBS Group increased their target price on Howmet Aerospace from $120.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Northcoast Research raised shares of Howmet Aerospace from a “sell” rating to a “neutral” rating in a report on Wednesday, April 9th. Wall Street Zen cut Howmet Aerospace from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Finally, Morgan Stanley increased their target price on Howmet Aerospace from $170.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $150.44.

Insider Activity

In other Howmet Aerospace news, CEO John C. Plant sold 800,000 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the completion of the transaction, the chief executive officer owned 236,544 shares in the company, valued at $37,127,946.24. This trade represents a 77.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 directly owned 23,044 shares in the company, valued at $3,575,737.48. This represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 insiders.

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.