Morse Asset Management Inc Sells 2,925 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Morse Asset Management Inc cut its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 16.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,043 shares of the company’s stock after selling 2,925 shares during the quarter. Morse Asset Management Inc’s holdings in Howmet Aerospace were worth $1,168,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Xponance Inc. increased its holdings in shares of Howmet Aerospace by 5.0% in the second quarter. Xponance Inc. now owns 54,774 shares of the company’s stock valued at $4,252,000 after purchasing an additional 2,588 shares during the period. Bank of Montreal Can boosted its holdings in Howmet Aerospace by 25.8% during the second quarter. Bank of Montreal Can now owns 572,029 shares of the company’s stock worth $45,848,000 after buying an additional 117,437 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in Howmet Aerospace by 67.8% in the second quarter. Public Sector Pension Investment Board now owns 14,955 shares of the company’s stock valued at $1,161,000 after buying an additional 6,045 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of Howmet Aerospace in the second quarter worth about $4,541,000. Finally, Frank Rimerman Advisors LLC increased its stake in shares of Howmet Aerospace by 33,718.2% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 14,880 shares of the company’s stock valued at $1,155,000 after purchasing an additional 14,836 shares in the last quarter. Institutional investors and hedge funds own 90.46% of the company’s stock.

Howmet Aerospace Price Performance

Shares of NYSE HWM opened at $97.45 on Monday. 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 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 stock has a 50 day moving average of $91.31 and a two-hundred day moving average of $80.54. Howmet Aerospace Inc. has a twelve month low of $42.94 and a twelve month high of $98.29.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, beating 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 company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company earned $0.44 earnings per share. Howmet Aerospace’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, research analysts forecast that Howmet Aerospace Inc. will post 2.59 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The business also recently disclosed 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 yield of 0.33%. The ex-dividend date of this dividend was Friday, August 9th. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s dividend payout ratio (DPR) is currently 15.46%.

Insider Buying and Selling

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Ken Giacobbe sold 154,909 shares of the business’s 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the executive vice president now 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.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HWM. Barclays upped their target price 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 boosted their price target on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. 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. Royal Bank of Canada boosted their target price on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Benchmark boosted their price objective on Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

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.