Thrivent Financial for Lutherans Sells 1,008,535 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Thrivent Financial for Lutherans lowered its stake in Howmet Aerospace Inc. (NYSE:HWM) by 29.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,401,453 shares of the company’s stock after selling 1,008,535 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.59% of Howmet Aerospace worth $186,425,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in HWM. Cultivar Capital Inc. bought a new position in shares of Howmet Aerospace in the second quarter worth about $26,000. LGT Financial Advisors LLC raised its holdings in Howmet Aerospace by 278.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock valued at $28,000 after buying an additional 262 shares during the last quarter. Rothschild Investment LLC bought a new position in Howmet Aerospace in the 2nd quarter valued at approximately $32,000. Versant Capital Management Inc raised its holdings in Howmet Aerospace by 1,209.1% in the 2nd quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock valued at $34,000 after buying an additional 399 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in Howmet Aerospace by 81.4% in the 1st quarter. Whittier Trust Co. now owns 508 shares of the company’s stock valued at $35,000 after buying an additional 228 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 $97.42 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock’s fifty day simple moving average is $91.31 and its two-hundred day simple moving average is $80.37. Howmet Aerospace Inc. has a 1-year low of $42.94 and a 1-year high of $98.29. The stock has a market cap of $39.77 billion, a PE ratio of 47.06, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46.

Howmet Aerospace (NYSE:HWM) last released its 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. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The business’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 business posted $0.44 EPS. As a group, analysts forecast that Howmet Aerospace Inc. will post 2.59 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were paid a $0.08 dividend. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. This represents a $0.32 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend was Friday, August 9th. Howmet Aerospace’s payout ratio is currently 15.46%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HWM shares. Robert W. Baird raised their price objective on shares of Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. KeyCorp raised 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. Royal Bank of Canada raised their price objective on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price on shares of Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Northcoast Research reissued a “sell” rating and set a $70.00 target price 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 given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

Insider Activity at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the sale, the executive vice president now directly owns 92,687 shares in the company, valued at approximately $8,985,077.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction dated 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 transaction, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by company 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.