Hsbc Holdings PLC Cuts Position in Howmet Aerospace Inc. (NYSE:HWM)

Hsbc Holdings PLC trimmed its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 0.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 869,921 shares of the company’s stock after selling 5,110 shares during the period. Hsbc Holdings PLC owned approximately 0.21% of Howmet Aerospace worth $67,719,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HWM. Wealthspire Advisors LLC bought a new position in Howmet Aerospace during the 2nd quarter valued at approximately $209,000. Blair William & Co. IL raised its position in shares of Howmet Aerospace by 51.6% in the 1st quarter. Blair William & Co. IL now owns 25,488 shares of the company’s stock worth $1,744,000 after purchasing an additional 8,676 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of Howmet Aerospace by 70.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 1,273,290 shares of the company’s stock worth $87,131,000 after purchasing an additional 524,805 shares during the last quarter. Quadrature Capital Ltd boosted its stake in Howmet Aerospace by 303.8% in the 4th quarter. Quadrature Capital Ltd now owns 23,629 shares of the company’s stock worth $1,279,000 after purchasing an additional 17,777 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in Howmet Aerospace by 67.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 80,414 shares of the company’s stock valued at $5,431,000 after purchasing an additional 32,431 shares during the last quarter. 90.46% of the stock is owned by institutional investors.

Howmet Aerospace Price Performance

NYSE HWM opened at $97.43 on Friday. The company has a 50-day moving average price of $90.95 and a 200-day moving average price of $80.16. 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 $39.77 billion, a P/E ratio of 47.07, a PEG ratio of 1.41 and a beta of 1.46. Howmet Aerospace Inc. has a 52 week low of $42.94 and a 52 week high of $98.15.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. The business 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%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS. Equities research analysts anticipate that Howmet Aerospace Inc. will post 2.59 earnings per share 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 given a $0.08 dividend. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.33%. Howmet Aerospace’s dividend payout ratio is presently 15.46%.

Insider Activity

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the sale, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 directly owns 92,687 shares in the company, valued at $8,985,077.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 155,135 shares in the company, valued at approximately $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 brokerages have issued reports on HWM. Truist Financial lifted their target price on shares of Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. BTIG Research upped their price objective on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Robert W. Baird increased their target price on Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Benchmark increased their price objective on Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, 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 research report on Wednesday, July 31st. 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 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.

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.