Azzad Asset Management Inc. ADV Invests $3.75 Million in Howmet Aerospace Inc. (NYSE:HWM)

Azzad Asset Management Inc. ADV purchased a new position in Howmet Aerospace Inc. (NYSE:HWM) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 28,934 shares of the company’s stock, valued at approximately $3,754,000.

Other institutional investors also recently made changes to their positions in the company. Park Avenue Securities LLC raised its holdings in shares of Howmet Aerospace by 126.1% in the 1st quarter. Park Avenue Securities LLC now owns 24,207 shares of the company’s stock worth $3,140,000 after purchasing an additional 13,500 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Howmet Aerospace by 156.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,273 shares of the company’s stock worth $1,014,000 after purchasing an additional 5,664 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Howmet Aerospace in the 4th quarter worth approximately $223,000. Vontobel Holding Ltd. raised its holdings in shares of Howmet Aerospace by 8.9% in the 4th quarter. Vontobel Holding Ltd. now owns 4,222 shares of the company’s stock worth $462,000 after purchasing an additional 346 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Howmet Aerospace by 236.6% in the 4th quarter. Wellington Management Group LLP now owns 9,816 shares of the company’s stock worth $1,074,000 after purchasing an additional 6,900 shares in the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Wells Fargo & Company boosted their price target on shares of Howmet Aerospace from $118.00 to $145.00 and gave the company an “equal weight” rating in a report on Friday, May 2nd. Northcoast Research upgraded shares of Howmet Aerospace from a “sell” rating to a “neutral” rating in a report on Wednesday, April 9th. Truist Financial boosted their price target on shares of Howmet Aerospace from $161.00 to $192.00 and gave the company a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Howmet Aerospace from $125.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Howmet Aerospace has an average rating of “Moderate Buy” and an average target price of $137.88.

Howmet Aerospace Trading Down 0.4%

Shares of Howmet Aerospace stock opened at $170.91 on Friday. The stock has a market capitalization of $68.99 billion, a P/E ratio of 60.61, a price-to-earnings-growth ratio of 1.92 and a beta of 1.44. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74. The company has a 50-day simple moving average of $151.46 and a 200 day simple moving average of $132.83. Howmet Aerospace Inc. has a 12-month low of $76.83 and a 12-month high of $177.25.

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

Howmet Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 9th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, May 9th. Howmet Aerospace’s dividend payout ratio (DPR) is currently 13.03%.

Insiders Place Their Bets

In other Howmet Aerospace news, VP Barbara Lou Shultz sold 1,250 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $155.17, for a total transaction of $193,962.50. Following the sale, the vice president now owns 23,044 shares of the company’s stock, valued at $3,575,737.48. This represents a 5.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Neil Edward Marchuk sold 30,000 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 131,859 shares in the company, valued at approximately $20,903,607.27. This represents a 18.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 831,250 shares of company stock valued at $130,517,863 in the last 90 days. 1.04% of the stock is currently owned by insiders.

Howmet Aerospace 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.