2,834 Shares in Howmet Aerospace Inc. (NYSE:HWM) Purchased by Wedbush Securities Inc.

Wedbush Securities Inc. purchased a new position in Howmet Aerospace Inc. (NYSE:HWM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,834 shares of the company’s stock, valued at approximately $220,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HWM. Prudential PLC boosted its holdings in shares of Howmet Aerospace by 527.1% during the 2nd quarter. Prudential PLC now owns 25,161 shares of the company’s stock valued at $1,953,000 after purchasing an additional 21,149 shares during the last quarter. Quest Partners LLC lifted its position in shares of Howmet Aerospace by 96.5% in the second quarter. Quest Partners LLC now owns 721 shares of the company’s stock worth $56,000 after buying an additional 354 shares in the last quarter. Mount Lucas Management LP bought a new position in Howmet Aerospace during the second quarter valued at approximately $237,000. Ballentine Partners LLC grew its holdings in Howmet Aerospace by 15.7% during the 2nd quarter. Ballentine Partners LLC now owns 4,480 shares of the company’s stock valued at $348,000 after buying an additional 607 shares in the last quarter. Finally, Caprock Group LLC increased its stake in Howmet Aerospace by 7.9% in the 2nd quarter. Caprock Group LLC now owns 11,073 shares of the company’s stock worth $860,000 after acquiring an additional 809 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock opened at $95.28 on Monday. Howmet Aerospace Inc. has a 52 week low of $42.94 and a 52 week high of $98.15. The company has a market capitalization of $38.89 billion, a PE ratio of 46.03, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46. The stock’s fifty day moving average is $89.72 and its two-hundred day moving average is $79.54. 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 (NYSE:HWM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the prior year, the business posted $0.44 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, analysts expect that Howmet Aerospace Inc. will post 2.59 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s payout ratio is currently 15.46%.

Analyst Ratings Changes

HWM has been the subject of a number of research reports. BTIG Research increased their target price on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Barclays lifted their price objective on shares of Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada upped their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Northcoast Research restated a “sell” rating and set a $70.00 price objective on shares of Howmet Aerospace in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.67.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at approximately $14,982,938.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at approximately $14,982,938.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 92,687 shares in the company, valued at approximately $8,985,077.78. The disclosure for this sale can be found here. 1.12% of the stock is owned by company insiders.

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.