Meiji Yasuda Asset Management Co Ltd. Cuts Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Meiji Yasuda Asset Management Co Ltd. lessened its stake in Howmet Aerospace Inc. (NYSE:HWM) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,860 shares of the company’s stock after selling 665 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Howmet Aerospace were worth $921,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cultivar Capital Inc. acquired a new stake in Howmet Aerospace during the 2nd quarter worth $26,000. LGT Financial Advisors LLC boosted its stake in Howmet Aerospace by 278.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after purchasing an additional 262 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Howmet Aerospace during the 2nd quarter worth $32,000. Versant Capital Management Inc boosted its stake in Howmet Aerospace by 1,209.1% during the 2nd quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock worth $34,000 after purchasing an additional 399 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in Howmet Aerospace by 81.4% during the 1st quarter. Whittier Trust Co. now owns 508 shares of the company’s stock worth $35,000 after purchasing an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Trading Up 2.9 %

NYSE HWM opened at $97.43 on Friday. The firm’s 50-day moving average is $90.95 and its two-hundred day moving average is $80.16. Howmet Aerospace Inc. has a 12 month low of $42.94 and a 12 month high of $98.15. 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 market capitalization of $39.77 billion, a P/E ratio of 47.07, a PEG ratio of 1.41 and a beta of 1.46.

Howmet Aerospace (NYSE:HWM) last posted 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 for the quarter, compared to analysts’ expectations of $1.83 billion. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. Howmet Aerospace’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 earnings per share. On average, sell-side analysts anticipate that Howmet Aerospace Inc. will post 2.59 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, August 9th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. This represents a $0.32 dividend on an annualized basis and a yield of 0.33%. Howmet Aerospace’s dividend payout ratio is 15.46%.

Insiders Place Their Bets

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the business’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 sale, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 92,687 shares in the company, valued at $8,985,077.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the chief financial officer now owns 155,135 shares in the company, valued at $14,982,938.30. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Northcoast Research reaffirmed a “sell” rating and set a $70.00 target price on shares of Howmet Aerospace in a research note on Friday, June 14th. Robert W. Baird lifted their target price on shares of Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. BTIG Research boosted their price target on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 5th. KeyCorp boosted their price target on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada boosted their price target on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.