10,501 Shares in Howmet Aerospace Inc. (NYSE:HWM) Bought by Seven Eight Capital LP

Seven Eight Capital LP bought a new stake in Howmet Aerospace Inc. (NYSE:HWM) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 10,501 shares of the company’s stock, valued at approximately $815,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC lifted its position in Howmet Aerospace by 62.9% in the 4th quarter. Quadrant Capital Group LLC now owns 976 shares of the company’s stock valued at $53,000 after purchasing an additional 377 shares during the last quarter. Brown Advisory Inc. bought a new stake in shares of Howmet Aerospace during the fourth quarter valued at approximately $204,000. PNC Financial Services Group Inc. boosted its position in shares of Howmet Aerospace by 2.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 52,108 shares of the company’s stock worth $2,820,000 after buying an additional 1,397 shares during the period. Coldstream Capital Management Inc. bought a new position in Howmet Aerospace in the 4th quarter worth approximately $316,000. Finally, Wells Fargo & Company MN grew its holdings in Howmet Aerospace by 18.4% in the 4th quarter. Wells Fargo & Company MN now owns 336,399 shares of the company’s stock worth $18,206,000 after buying an additional 52,206 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Howmet Aerospace Stock Performance

Howmet Aerospace stock opened at $97.45 on Friday. 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 cap of $39.78 billion, a P/E ratio of 47.08, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46. Howmet Aerospace Inc. has a fifty-two week low of $42.94 and a fifty-two week high of $98.29. The firm’s 50 day simple moving average is $91.31 and its 200-day simple moving average is $80.45.

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

Howmet Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.33%. The ex-dividend date was Friday, August 9th. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s payout ratio is 15.46%.

Analysts Set New Price Targets

Several research firms have recently issued reports on HWM. Barclays increased 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. BTIG Research raised their price objective on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Robert W. Baird upped their target price on Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Northcoast Research reiterated a “sell” rating and set a $70.00 price target on shares of Howmet Aerospace in a research report on Friday, June 14th. Finally, Royal Bank of Canada upped their price objective on Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.67.

Insider Activity

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