Farallon Capital Management LLC Has $197.32 Million Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Farallon Capital Management LLC lessened its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 25.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,541,839 shares of the company’s stock after selling 868,920 shares during the quarter. Farallon Capital Management LLC owned 0.62% of Howmet Aerospace worth $197,323,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in HWM. Cultivar Capital Inc. bought a new position in Howmet Aerospace during the second quarter worth about $26,000. LGT Financial Advisors LLC boosted its stake in shares of 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 acquiring an additional 262 shares during the period. Rothschild Investment LLC acquired a new position in shares of Howmet Aerospace during the 2nd quarter worth approximately $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 acquiring an additional 399 shares during the period. Finally, Whittier Trust Co. raised its stake 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 acquiring an additional 228 shares during the period. Institutional investors own 90.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on HWM shares. JPMorgan Chase & Co. lifted their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada lifted their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Truist Financial increased their price target 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. Benchmark lifted their price target on Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, BTIG Research boosted their target price 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. 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $90.67.

Howmet Aerospace Stock Performance

Howmet Aerospace stock opened at $98.63 on Tuesday. 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 stock has a market cap of $40.26 billion, a PE ratio of 47.65, a P/E/G ratio of 1.41 and a beta of 1.46. Howmet Aerospace Inc. has a 12-month low of $42.94 and a 12-month high of $98.97. The business’s 50-day moving average price is $91.71 and its two-hundred day moving average price is $80.74.

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

Howmet Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.32%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s dividend payout ratio is currently 15.46%.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the company’s 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 completion of the transaction, the chief financial officer now directly owns 155,135 shares in the company, 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 news, EVP Neil Edward Marchuk sold 70,637 shares of the 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 completion of the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 155,135 shares of the company’s stock, valued at $14,982,938.30. The disclosure for this sale can be found here. 1.12% of the stock is owned by company insiders.

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.