Hedges Asset Management LLC Has $1.16 Million Position in Howmet Aerospace Inc. (NYSE:HWM)

Hedges Asset Management LLC reduced its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 21.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,600 shares of the company’s stock after selling 3,100 shares during the quarter. Hedges Asset Management LLC’s holdings in Howmet Aerospace were worth $1,163,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Cultivar Capital Inc. acquired a new stake in shares of Howmet Aerospace during the second quarter worth approximately $26,000. LGT Financial Advisors LLC boosted its holdings in shares of Howmet Aerospace by 278.7% during the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after purchasing an additional 262 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Howmet Aerospace during the second quarter worth approximately $32,000. Versant Capital Management Inc boosted its holdings in shares of Howmet Aerospace by 1,209.1% during the second quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock worth $34,000 after purchasing an additional 399 shares during the period. Finally, AlphaCentric Advisors LLC bought a new position in Howmet Aerospace during the second quarter valued at approximately $36,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction on Friday, August 23rd. The shares were 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 owns 92,687 shares in the company, valued at $8,985,077.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction on Friday, August 23rd. The shares were 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 owns 92,687 shares in the company, valued at $8,985,077.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction on 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 in the company, valued at $14,982,938.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.

Howmet Aerospace Trading Up 0.8 %

Shares of HWM stock opened at $101.39 on Monday. Howmet Aerospace Inc. has a 1 year low of $42.94 and a 1 year high of $106.93. The firm’s fifty day simple moving average is $98.79 and its 200 day simple moving average is $86.76. The firm has a market capitalization of $41.39 billion, a P/E ratio of 48.98, a price-to-earnings-growth ratio of 1.51 and a beta of 1.46. 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 announced its earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Howmet Aerospace’s revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts predict that Howmet Aerospace Inc. will post 2.59 EPS for the current year.

Howmet Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.32%. Howmet Aerospace’s dividend payout ratio is currently 15.46%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HWM. Susquehanna began coverage on shares of Howmet Aerospace in a research report on Tuesday, October 8th. They set a “positive” rating and a $120.00 price objective on the stock. Barclays raised their price objective on shares of Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Truist Financial raised their price objective on shares of Howmet Aerospace from $105.00 to $123.00 and gave the company a “buy” rating in a research report on Friday, October 18th. BTIG Research raised their price objective on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, KeyCorp lowered shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $101.50.

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.