Renaissance Investment Group LLC Invests $1.92 Million in Howmet Aerospace Inc. (NYSE:HWM)

Renaissance Investment Group LLC purchased a new position in shares of Howmet Aerospace Inc. (NYSE:HWM) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 19,128 shares of the company’s stock, valued at approximately $1,918,000.

Several other large investors have also modified their holdings of HWM. Centaurus Financial Inc. purchased a new stake in shares of Howmet Aerospace during the fourth quarter worth approximately $122,000. American International Group Inc. raised its position in Howmet Aerospace by 1.6% in the fourth quarter. American International Group Inc. now owns 105,188 shares of the company’s stock worth $5,693,000 after acquiring an additional 1,672 shares in the last quarter. SageView Advisory Group LLC purchased a new position in Howmet Aerospace in the fourth quarter worth $205,000. Vanguard Group Inc. raised its position in Howmet Aerospace by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock worth $2,448,804,000 after acquiring an additional 1,274,974 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Howmet Aerospace by 2.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 52,108 shares of the company’s stock worth $2,820,000 after acquiring an additional 1,397 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Trading Up 1.7 %

Howmet Aerospace stock opened at $103.82 on Friday. The stock has a market cap of $42.37 billion, a PE ratio of 45.94, a P/E/G ratio of 1.51 and a beta of 1.46. The stock has a 50-day moving average price of $96.46 and a 200 day moving average price of $84.02. Howmet Aerospace Inc. has a 52 week low of $42.94 and a 52 week high of $104.42. The company has a current ratio of 1.53, a quick ratio of 0.74 and a debt-to-equity ratio of 0.68.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The firm 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 firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. Equities research analysts predict that Howmet Aerospace Inc. will post 2.59 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Friday, November 8th. Howmet Aerospace’s dividend payout ratio is presently 14.16%.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace 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 in the company, valued at $8,985,077.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace 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 in the company, valued at $8,985,077.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction dated 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 sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at $14,982,938.30. 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 company insiders.

Wall Street Analyst Weigh In

HWM has been the subject of several research analyst reports. BTIG Research increased their price objective on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Truist Financial increased their price objective on Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Royal Bank of Canada increased their price objective on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Benchmark increased their price objective on Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, KeyCorp raised their price target on Howmet Aerospace from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $96.63.

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.