Y Intercept Hong Kong Ltd raised its stake in Howmet Aerospace Inc. (NYSE:HWM – Free Report) by 291.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 52,688 shares of the company’s stock after buying an additional 39,225 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Howmet Aerospace were worth $12,142,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of HWM. Leonteq Securities AG raised its position in shares of Howmet Aerospace by 6.3% in the 1st quarter. Leonteq Securities AG now owns 6,839 shares of the company’s stock valued at $1,576,000 after acquiring an additional 403 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Howmet Aerospace by 64.0% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 130,303 shares of the company’s stock worth $30,030,000 after acquiring an additional 50,850 shares during the last quarter. Elevation Point Wealth Partners LLC grew its holdings in Howmet Aerospace by 666.5% during the first quarter. Elevation Point Wealth Partners LLC now owns 23,486 shares of the company’s stock valued at $5,413,000 after purchasing an additional 20,422 shares during the period. Sound Income Strategies LLC grew its holdings in Howmet Aerospace by 52.8% during the first quarter. Sound Income Strategies LLC now owns 191 shares of the company’s stock valued at $46,000 after purchasing an additional 66 shares during the period. Finally, Jamison Private Wealth Management Inc. bought a new stake in Howmet Aerospace in the first quarter valued at approximately $234,000. 90.46% of the stock is owned by institutional investors.
Howmet Aerospace Price Performance
HWM stock opened at $270.59 on Friday. The stock has a 50-day moving average price of $260.80 and a two-hundred day moving average price of $241.57. Howmet Aerospace Inc. has a 1 year low of $169.45 and a 1 year high of $290.63. The stock has a market cap of $108.26 billion, a PE ratio of 62.78, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a current ratio of 2.44, a quick ratio of 1.59 and a debt-to-equity ratio of 0.73.
Howmet Aerospace Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Friday, May 8th were paid a $0.12 dividend. The ex-dividend date was Friday, May 8th. This represents a $0.48 annualized dividend and a yield of 0.2%. Howmet Aerospace’s payout ratio is presently 11.14%.
Analysts Set New Price Targets
Several equities research analysts have weighed in on HWM shares. Morgan Stanley reiterated an “overweight” rating and issued a $315.00 target price on shares of Howmet Aerospace in a report on Friday, May 8th. BTIG Research upped their price objective on shares of Howmet Aerospace from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Wolfe Research set a $270.00 price objective on Howmet Aerospace and gave the stock an “outperform” rating in a research note on Wednesday, March 11th. Sanford C. Bernstein reiterated an “outperform” rating and set a $318.00 target price on shares of Howmet Aerospace in a report on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $320.00 target price on shares of Howmet Aerospace in a research note on Friday, May 8th. Eighteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Howmet Aerospace presently has an average rating of “Moderate Buy” and an average target price of $287.95.
Check Out Our Latest Analysis on Howmet Aerospace
Insiders Place Their Bets
In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 41,932 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $269.50, for a total transaction of $11,300,674.00. Following the completion of the transaction, the executive vice president owned 65,105 shares of the company’s stock, valued at $17,545,797.50. This represents a 39.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.85% of the stock is currently owned by company insiders.
Howmet Aerospace Company Profile
Howmet Aerospace Inc is an industrial technology company that designs, manufactures and repairs engineered metal products for the aerospace, transportation and industrial markets. Its product portfolio includes precision castings and forgings, engineered fasteners, seamless rolled rings, and complex components for turbine engines, airframes and industrial gas turbines. The company also provides aftermarket services such as component repair, overhaul and parts distribution to support the operating fleet of commercial and military customers.
Howmet serves a global customer base of original equipment manufacturers (OEMs) and aftermarket operators, with manufacturing, service and distribution facilities across North America, Europe and Asia.
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