Scopus Asset Management L.P. Invests $20.02 Million in Howmet Aerospace Inc. (NYSE:HWM)

Scopus Asset Management L.P. purchased a new position in Howmet Aerospace Inc. (NYSE:HWM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 623,000 shares of the company’s stock, valued at approximately $20,017,000. Scopus Asset Management L.P. owned 0.14% of Howmet Aerospace as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Berman Capital Advisors LLC grew its stake in shares of Howmet Aerospace by 476.0% in the fourth quarter. Berman Capital Advisors LLC now owns 887 shares of the company’s stock worth $25,000 after acquiring an additional 733 shares during the period. Vantage Consulting Group Inc bought a new stake in shares of Howmet Aerospace in the fourth quarter worth approximately $44,000. Capital Asset Advisory Services LLC bought a new stake in shares of Howmet Aerospace in the fourth quarter worth approximately $47,000. Ellevest Inc. grew its stake in shares of Howmet Aerospace by 34.6% in the first quarter. Ellevest Inc. now owns 1,472 shares of the company’s stock worth $47,000 after acquiring an additional 378 shares during the period. Finally, Grant Street Asset Management Inc. bought a new stake in shares of Howmet Aerospace in the fourth quarter worth approximately $58,000. Hedge funds and other institutional investors own 88.47% of the company’s stock.

Shares of HWM stock traded down $0.46 during mid-day trading on Thursday, hitting $32.41. The company had a trading volume of 25,200 shares, compared to its average volume of 2,856,056. Howmet Aerospace Inc. has a 52-week low of $14.52 and a 52-week high of $36.03. The company has a 50 day simple moving average of $34.02. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.98 and a quick ratio of 1.12. The stock has a market capitalization of $14.08 billion, a P/E ratio of 117.39 and a beta of 1.97.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Wednesday, May 5th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.19 by $0.03. Howmet Aerospace had a net margin of 2.61% and a return on equity of 9.96%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The company’s quarterly revenue was down 26.0% compared to the same quarter last year. As a group, equities analysts expect that Howmet Aerospace Inc. will post 0.98 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 25th. Stockholders of record on Friday, August 6th will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Thursday, August 5th.

HWM has been the subject of several recent research reports. KeyCorp boosted their target price on shares of Howmet Aerospace from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Friday, May 7th. Argus boosted their target price on shares of Howmet Aerospace from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, May 19th. Zacks Investment Research upgraded shares of Howmet Aerospace from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Wednesday, May 19th. JPMorgan Chase & Co. boosted their target price on shares of Howmet Aerospace from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, April 7th. Finally, Wells Fargo & Company initiated coverage on shares of Howmet Aerospace in a research report on Tuesday, May 18th. They set an “overweight” rating and a $39.00 target price for the company. Twelve analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and an average price target of $33.18.

Howmet Aerospace 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.

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Institutional Ownership by Quarter for Howmet Aerospace (NYSE:HWM)

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