Elo Mutual Pension Insurance Co Sells 2,263 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Elo Mutual Pension Insurance Co reduced its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 6.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,399 shares of the company’s stock after selling 2,263 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Howmet Aerospace were worth $2,593,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in HWM. Wealthspire Advisors LLC acquired a new stake in Howmet Aerospace during the second quarter worth approximately $209,000. Blair William & Co. IL increased its stake in shares of Howmet Aerospace by 51.6% in the 1st quarter. Blair William & Co. IL now owns 25,488 shares of the company’s stock valued at $1,744,000 after acquiring an additional 8,676 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Howmet Aerospace by 70.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 1,273,290 shares of the company’s stock valued at $87,131,000 after acquiring an additional 524,805 shares during the period. Quadrature Capital Ltd boosted its stake in Howmet Aerospace by 303.8% during the fourth quarter. Quadrature Capital Ltd now owns 23,629 shares of the company’s stock worth $1,279,000 after acquiring an additional 17,777 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Howmet Aerospace by 67.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 80,414 shares of the company’s stock worth $5,431,000 after acquiring an additional 32,431 shares in the last quarter. 90.46% of the stock is owned by institutional investors.

Howmet Aerospace Price Performance

HWM opened at $97.43 on Friday. Howmet Aerospace Inc. has a 1 year low of $42.94 and a 1 year high of $98.15. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74. The company has a market capitalization of $39.77 billion, a price-to-earnings ratio of 47.07, a P/E/G ratio of 1.41 and a beta of 1.46. The firm’s fifty day moving average price is $90.95 and its two-hundred day moving average price is $80.16.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. As a group, analysts anticipate that Howmet Aerospace Inc. will post 2.59 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.33%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, August 9th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 15.46%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several brokerages have recently weighed in on HWM. KeyCorp upped their price objective on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Barclays upped their price target on 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 increased their price target on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Truist Financial boosted their price objective on Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Benchmark increased their target price on Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.67.

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.