Ninepoint Partners LP Sells 1,380 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Ninepoint Partners LP trimmed its stake in Howmet Aerospace Inc. (NYSE:HWM) by 11.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,439 shares of the company’s stock after selling 1,380 shares during the period. Ninepoint Partners LP’s holdings in Howmet Aerospace were worth $810,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HWM. Wells Fargo & Company MN increased its position in shares of Howmet Aerospace by 18.4% in the fourth quarter. Wells Fargo & Company MN now owns 336,399 shares of the company’s stock worth $18,206,000 after purchasing an additional 52,206 shares during the last quarter. US Bancorp DE increased its position in shares of Howmet Aerospace by 57.6% in the fourth quarter. US Bancorp DE now owns 34,434 shares of the company’s stock worth $1,864,000 after purchasing an additional 12,579 shares during the last quarter. TD Asset Management Inc increased its position in shares of Howmet Aerospace by 55.4% in the fourth quarter. TD Asset Management Inc now owns 248,392 shares of the company’s stock worth $13,443,000 after purchasing an additional 88,549 shares during the last quarter. Stifel Financial Corp increased its position in shares of Howmet Aerospace by 1.5% in the fourth quarter. Stifel Financial Corp now owns 162,744 shares of the company’s stock worth $8,808,000 after purchasing an additional 2,370 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Howmet Aerospace by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 172,682 shares of the company’s stock worth $9,346,000 after buying an additional 1,090 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Stock Performance

NYSE:HWM opened at $99.22 on Friday. The firm has a market cap of $40.50 billion, a PE ratio of 47.93, a price-to-earnings-growth ratio of 1.47 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 $100.62. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53. The business has a 50 day moving average price of $93.34 and a 200-day moving average price of $81.46.

Howmet Aerospace (NYSE:HWM) last announced 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. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. Equities research analysts predict that Howmet Aerospace Inc. will post 2.59 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. Howmet Aerospace’s dividend payout ratio is presently 15.46%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. 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 note on Wednesday, July 31st. 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. KeyCorp upped their target price on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada upped their target price on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Benchmark upped their target price 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 analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Howmet Aerospace currently has an average rating of “Moderate Buy” and an average price target of $92.93.

Insider Activity at Howmet Aerospace

In related news, CFO Ken Giacobbe sold 154,909 shares of the company’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 transaction, the chief financial officer now owns 155,135 shares in the company, valued at $14,982,938.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the 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 $14,982,938.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction 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 completion of the transaction, 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. 1.12% of the stock is owned by corporate insiders.

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.