Federated Hermes Inc. Sells 20,866 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Federated Hermes Inc. decreased its stake in Howmet Aerospace Inc. (NYSE:HWM) by 18.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,087 shares of the company’s stock after selling 20,866 shares during the period. Federated Hermes Inc.’s holdings in Howmet Aerospace were worth $6,993,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its holdings in shares of Howmet Aerospace by 28.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock valued at $966,959,000 after purchasing an additional 3,158,186 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Howmet Aerospace by 18.7% during the 1st quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock valued at $1,223,358,000 after purchasing an additional 2,813,911 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Howmet Aerospace by 986.0% during the 1st quarter. TD Asset Management Inc now owns 2,697,449 shares of the company’s stock valued at $184,586,000 after purchasing an additional 2,449,057 shares during the last quarter. Capital Research Global Investors bought a new position in shares of Howmet Aerospace during the 1st quarter valued at $148,996,000. Finally, Vanguard Group Inc. grew its holdings in shares of Howmet Aerospace by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock valued at $2,448,804,000 after purchasing an additional 1,274,974 shares during the last quarter. Institutional investors own 90.46% of the company’s stock.

Insider Activity at Howmet Aerospace

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HWM shares. Truist Financial increased their target price on shares of Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target 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. Barclays increased their price target on shares of Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Benchmark increased their price target on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, Robert W. Baird increased their price target on shares of Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.67.

Howmet Aerospace Trading Down 0.6 %

NYSE:HWM opened at $94.57 on Wednesday. The company has a 50-day moving average price of $90.30 and a 200-day moving average price of $79.94. Howmet Aerospace Inc. has a 12 month low of $42.94 and a 12 month high of $98.15. 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 $38.60 billion, a price-to-earnings ratio of 45.69, a P/E/G ratio of 1.41 and a beta of 1.46.

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

Howmet Aerospace Increases Dividend

The firm also recently declared 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 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 0.34%. The ex-dividend date of this dividend was Friday, August 9th. Howmet Aerospace’s dividend payout ratio (DPR) is 15.46%.

About Howmet Aerospace

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.