Hardman Johnston Global Advisors LLC Lowers Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Hardman Johnston Global Advisors LLC lowered its position in shares of Howmet Aerospace Inc. (NYSE:HWMFree Report) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,589,465 shares of the company’s stock after selling 33,633 shares during the period. Howmet Aerospace comprises about 2.8% of Hardman Johnston Global Advisors LLC’s investment portfolio, making the stock its 13th largest position. Hardman Johnston Global Advisors LLC’s holdings in Howmet Aerospace were worth $86,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its position in Howmet Aerospace by 61.3% during the third quarter. Venturi Wealth Management LLC now owns 558 shares of the company’s stock valued at $26,000 after buying an additional 212 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in shares of Howmet Aerospace during the third quarter valued at $31,000. Headinvest LLC bought a new position in shares of Howmet Aerospace during the third quarter valued at $30,000. Clear Street Markets LLC increased its holdings in shares of Howmet Aerospace by 93.8% during the first quarter. Clear Street Markets LLC now owns 721 shares of the company’s stock valued at $31,000 after acquiring an additional 349 shares in the last quarter. Finally, Financial Freedom LLC bought a new position in shares of Howmet Aerospace during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 45,000 shares of Howmet Aerospace stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the transaction, the executive vice president now directly owns 229,568 shares of the company’s stock, valued at approximately $15,482,065.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.23% of the company’s stock.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock traded down $1.59 during trading hours on Friday, reaching $64.00. 2,990,554 shares of the stock traded hands, compared to its average volume of 3,398,192. The company has a 50 day moving average price of $65.21 and a 200 day moving average price of $55.81. The firm has a market capitalization of $26.14 billion, a price-to-earnings ratio of 34.97, a P/E/G ratio of 1.70 and a beta of 1.43. Howmet Aerospace Inc. has a one year low of $42.12 and a one year high of $69.55. The company has a quick ratio of 0.87, a current ratio of 1.86 and a debt-to-equity ratio of 0.88.

Howmet Aerospace (NYSE:HWMGet Free Report) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.06. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.65 billion. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. On average, equities research analysts expect that Howmet Aerospace Inc. will post 2.18 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 9th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.31%. Howmet Aerospace’s dividend payout ratio is currently 10.93%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HWM shares. KeyCorp raised their price target on Howmet Aerospace from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Truist Financial upgraded Howmet Aerospace from a “hold” rating to a “buy” rating and raised their price target for the company from $47.00 to $74.00 in a report on Wednesday, January 10th. Robert W. Baird raised their price target on Howmet Aerospace from $65.00 to $74.00 and gave the company an “outperform” rating in a report on Monday. JPMorgan Chase & Co. lifted their price objective on Howmet Aerospace from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Finally, Royal Bank of Canada initiated coverage on Howmet Aerospace in a report on Monday, March 18th. They issued an “outperform” rating and a $75.00 price objective for the company. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.08.

View Our Latest Analysis on HWM

About Howmet Aerospace

(Free Report)

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.

Further Reading

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

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