DNB Asset Management AS Increases Stake in Howmet Aerospace Inc. (NYSE:HWM)

DNB Asset Management AS raised its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,866 shares of the company’s stock after acquiring an additional 1,679 shares during the quarter. DNB Asset Management AS’s holdings in Howmet Aerospace were worth $7,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Whittier Trust Co. raised its holdings in Howmet Aerospace by 81.4% during the 1st quarter. Whittier Trust Co. now owns 508 shares of the company’s stock valued at $35,000 after buying an additional 228 shares during the period. Lindbrook Capital LLC boosted its stake in shares of Howmet Aerospace by 34.4% during the 4th quarter. Lindbrook Capital LLC now owns 894 shares of the company’s stock worth $48,000 after purchasing an additional 229 shares during the period. Quadrant Capital Group LLC grew its holdings in Howmet Aerospace by 62.9% during the 4th quarter. Quadrant Capital Group LLC now owns 976 shares of the company’s stock valued at $53,000 after purchasing an additional 377 shares during the last quarter. Blue Trust Inc. raised its position in Howmet Aerospace by 33.1% in the 4th quarter. Blue Trust Inc. now owns 1,089 shares of the company’s stock worth $59,000 after purchasing an additional 271 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in Howmet Aerospace in the first quarter worth about $68,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 32,614 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $84.26, for a total transaction of $2,748,055.64. Following the sale, the executive vice president now owns 217,687 shares in the company, valued at approximately $18,342,306.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.12% of the company’s stock.

Howmet Aerospace Stock Up 2.7 %

NYSE HWM traded up $2.33 on Tuesday, hitting $89.08. The stock had a trading volume of 3,272,358 shares, compared to its average volume of 3,273,140. Howmet Aerospace Inc. has a 52-week low of $42.94 and a 52-week high of $97.29. The business’s fifty day moving average price is $82.02 and its 200 day moving average price is $72.51. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.92. The stock has a market cap of $36.36 billion, a price-to-earnings ratio of 41.92, a price-to-earnings-growth ratio of 1.58 and a beta of 1.45.

Howmet Aerospace (NYSE:HWM) last announced its 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. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the company posted $0.44 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts anticipate that Howmet Aerospace Inc. will post 2.6 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be paid a dividend of $0.08 per share. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.36%. Howmet Aerospace’s dividend payout ratio is presently 15.46%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HWM shares. KeyCorp increased their price target on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Argus increased their target price on Howmet Aerospace from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. JPMorgan Chase & Co. boosted their target price on shares of Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. BTIG Research raised their price target on shares of Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Robert W. Baird boosted their price objective on shares of Howmet Aerospace from $84.00 to $113.00 and gave the company 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Howmet Aerospace has an average rating of “Moderate Buy” and a consensus price target of $90.67.

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.