Howmet Aerospace Inc. (NYSE:HWM) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 12.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,845,616 shares of the company’s stock after selling 2,814,603 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Howmet Aerospace were worth $1,540,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cigna Investments Inc. New increased its holdings in shares of Howmet Aerospace by 3.8% during the second quarter. Cigna Investments Inc. New now owns 4,178 shares of the company’s stock valued at $324,000 after acquiring an additional 153 shares in the last quarter. Bleakley Financial Group LLC increased its stake in Howmet Aerospace by 3.2% during the 1st quarter. Bleakley Financial Group LLC now owns 5,080 shares of the company’s stock valued at $348,000 after purchasing an additional 158 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of Howmet Aerospace by 4.9% in the second quarter. HB Wealth Management LLC now owns 3,664 shares of the company’s stock worth $284,000 after buying an additional 171 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Howmet Aerospace by 13.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,820 shares of the company’s stock worth $141,000 after buying an additional 217 shares during the period. Finally, Whittier Trust Co. lifted its stake in shares of Howmet Aerospace by 81.4% during the first quarter. Whittier Trust Co. now owns 508 shares of the company’s stock worth $35,000 after buying an additional 228 shares during the period. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction on 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 transaction, 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 filing with the SEC, which can be accessed through the SEC website. In related news, CFO Ken Giacobbe sold 154,909 shares of the company’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 completion of the sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 completion of the transaction, the executive vice president now directly owns 92,687 shares in the company, valued at $8,985,077.78. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HWM. Northcoast Research restated a “sell” rating and issued a $70.00 target price on shares of Howmet Aerospace in a research note on Friday, June 14th. Barclays raised their price objective on Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Royal Bank of Canada upped 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. Benchmark raised their price target on shares of Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. One 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.67.

Howmet Aerospace Price Performance

Shares of Howmet Aerospace stock opened at $95.28 on Monday. The firm has a market cap of $38.89 billion, a PE ratio of 46.03, a P/E/G ratio of 1.41 and a beta of 1.46. Howmet Aerospace Inc. has a twelve month low of $42.94 and a twelve month high of $98.15. 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 business has a 50-day moving average price of $89.72 and a 200 day moving average price of $79.54.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the business earned $0.44 earnings per share. The business’s revenue was up 14.1% compared to the same quarter last year. Sell-side analysts predict that Howmet Aerospace Inc. will post 2.59 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.34%. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s dividend payout ratio 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.