Chapin Davis Inc. Boosts Stake in Howmet Aerospace Inc. (NYSE:HWM)

Chapin Davis Inc. grew its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 68.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 52,117 shares of the company’s stock after acquiring an additional 21,204 shares during the quarter. Howmet Aerospace comprises about 1.7% of Chapin Davis Inc.’s portfolio, making the stock its 10th biggest holding. Chapin Davis Inc.’s holdings in Howmet Aerospace were worth $5,225,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Cultivar Capital Inc. bought a new stake in Howmet Aerospace during the second quarter worth about $26,000. LGT Financial Advisors LLC lifted its holdings 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 stake in shares of Howmet Aerospace during the 2nd quarter worth approximately $32,000. Versant Capital Management Inc increased its stake in Howmet Aerospace by 1,209.1% in the second 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 last quarter. Finally, AlphaCentric Advisors LLC acquired a new position in Howmet Aerospace during the second quarter valued at approximately $36,000. 90.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 155,135 shares in the company, valued at approximately $14,982,938.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the 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 transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was 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 of the company’s stock, valued at approximately $8,985,077.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is owned by insiders.

Analyst Ratings Changes

HWM has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada lifted their target price on Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. KeyCorp increased their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Truist Financial lifted 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. Finally, BTIG Research increased their price objective on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.07.

Howmet Aerospace Stock Performance

NYSE HWM opened at $102.83 on Tuesday. The company has a market capitalization of $41.97 billion, a price-to-earnings ratio of 49.68, a PEG ratio of 1.47 and a beta of 1.46. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. Howmet Aerospace Inc. has a twelve month low of $42.94 and a twelve month high of $103.38. The stock has a fifty day simple moving average of $95.29 and a 200 day simple moving average of $82.89.

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, beating the consensus estimate of $0.60 by $0.07. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Sell-side analysts expect that Howmet Aerospace Inc. will post 2.59 EPS for the current year.

Howmet Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Friday, November 8th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 15.46%.

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.