Bokf Na Reduces Stake in Howmet Aerospace Inc. (NYSE:HWM)

Bokf Na trimmed its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 62.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 468 shares of the company’s stock after selling 790 shares during the quarter. Bokf Na’s holdings in Howmet Aerospace were worth $36,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in HWM. Cultivar Capital Inc. acquired a new stake in Howmet Aerospace during the 2nd quarter valued at $26,000. LGT Financial Advisors LLC boosted its stake in shares of Howmet Aerospace by 278.7% during the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock valued at $28,000 after acquiring an additional 262 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Howmet Aerospace during the 2nd quarter worth about $32,000. Versant Capital Management Inc raised its stake in Howmet Aerospace by 1,209.1% in the 2nd quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock valued at $34,000 after purchasing an additional 399 shares during the last quarter. Finally, Whittier Trust Co. lifted its holdings in Howmet Aerospace by 81.4% in the 1st quarter. Whittier Trust Co. now owns 508 shares of the company’s stock valued at $35,000 after purchasing an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Price Performance

Howmet Aerospace stock opened at $94.57 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $38.60 billion, a P/E ratio of 45.69, a PEG ratio of 1.41 and a beta of 1.46. The firm has a fifty day moving average of $90.30 and a 200-day moving average of $79.94. Howmet Aerospace Inc. has a 52-week low of $42.94 and a 52-week high of $98.15.

Howmet Aerospace (NYSE:HWM) last announced its quarterly 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 firm 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 quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. As a group, analysts predict that Howmet Aerospace Inc. will post 2.59 EPS for the current year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.08 dividend. 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. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s dividend payout ratio is currently 15.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HWM shares. Truist Financial boosted their price objective on shares of Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. KeyCorp lifted their price objective on Howmet Aerospace from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Robert W. Baird lifted their price target on Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Benchmark upped their price objective on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $90.67.

Insider Buying and Selling at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, 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 $8,985,077.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction dated 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 transaction, 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.