Canada Pension Plan Investment Board Increases Stake in Howmet Aerospace Inc. (NYSE:HWM)

Canada Pension Plan Investment Board lifted its stake in Howmet Aerospace Inc. (NYSE:HWM) by 25.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 302,049 shares of the company’s stock after purchasing an additional 61,202 shares during the quarter. Canada Pension Plan Investment Board owned about 0.07% of Howmet Aerospace worth $23,448,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of HWM. Wealthspire Advisors LLC acquired a new position in Howmet Aerospace in the 2nd quarter worth approximately $209,000. Blair William & Co. IL increased its holdings in Howmet Aerospace by 51.6% in the 1st quarter. Blair William & Co. IL now owns 25,488 shares of the company’s stock worth $1,744,000 after buying an additional 8,676 shares during the period. Los Angeles Capital Management LLC increased its holdings in Howmet Aerospace by 70.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 1,273,290 shares of the company’s stock worth $87,131,000 after buying an additional 524,805 shares during the period. Quadrature Capital Ltd increased its holdings in Howmet Aerospace by 303.8% in the 4th quarter. Quadrature Capital Ltd now owns 23,629 shares of the company’s stock worth $1,279,000 after buying an additional 17,777 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its holdings in Howmet Aerospace by 67.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 80,414 shares of the company’s stock worth $5,431,000 after buying an additional 32,431 shares during the period. 90.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HWM. Truist Financial increased their price target on shares of Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Northcoast Research reissued a “sell” rating and issued a $70.00 price target on shares of Howmet Aerospace in a research note on Friday, June 14th. JPMorgan Chase & Co. raised their price objective on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Benchmark raised their price objective on Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, KeyCorp lifted their price target on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. 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. According to MarketBeat.com, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and an average price target of $90.67.

Insider Transactions at Howmet Aerospace

In related news, CFO Ken Giacobbe sold 154,909 shares of the business’s 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 owns 155,135 shares in the company, valued at $14,982,938.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Ken Giacobbe sold 154,909 shares of the business’s 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 owns 155,135 shares in the company, valued at $14,982,938.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction that occurred on 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 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. Corporate insiders own 1.12% of the company’s stock.

Howmet Aerospace Stock Performance

NYSE HWM opened at $97.45 on Monday. Howmet Aerospace Inc. has a 1-year low of $42.94 and a 1-year high of $98.29. The company has a market cap of $39.78 billion, a P/E ratio of 47.08, a P/E/G ratio of 1.41 and a beta of 1.46. 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 stock has a 50-day moving average of $91.31 and a two-hundred day moving average of $80.54.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings data 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 return on equity of 23.02% and a net margin of 13.15%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the company 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 anticipate that Howmet Aerospace Inc. will post 2.59 EPS for the current year.

Howmet Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.08 per share. 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.33%. Howmet Aerospace’s payout ratio is currently 15.46%.

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.