Howmet Aerospace Inc. (NYSE:HWM) Shares Sold by Channing Capital Management LLC

Channing Capital Management LLC trimmed its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 13.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,662 shares of the company’s stock after selling 31,721 shares during the quarter. Channing Capital Management LLC’s holdings in Howmet Aerospace were worth $10,860,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Accurate Wealth Management LLC acquired a new position in Howmet Aerospace in the fourth quarter worth $2,825,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Howmet Aerospace in the 3rd quarter valued at about $1,697,000. QRG Capital Management Inc. acquired a new position in shares of Howmet Aerospace in the 3rd quarter valued at about $407,000. Cullen Investment Group LTD. bought a new stake in shares of Howmet Aerospace during the 4th quarter valued at about $703,000. Finally, Victory Capital Management Inc. raised its stake in Howmet Aerospace by 15.0% during the third quarter. Victory Capital Management Inc. now owns 347,072 shares of the company’s stock worth $16,052,000 after acquiring an additional 45,246 shares during the period. 90.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the transaction, the executive vice president now owns 229,568 shares in the company, valued at approximately $15,482,065.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.12% of the company’s stock.

Analyst Upgrades and Downgrades

HWM has been the subject of a number of research reports. Royal Bank of Canada lifted their target price on Howmet Aerospace from $75.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday. Truist Financial upped their price objective on Howmet Aerospace from $74.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday. KeyCorp increased their target price on Howmet Aerospace from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. UBS Group boosted their price target on shares of Howmet Aerospace from $57.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Finally, Robert W. Baird increased their price objective on shares of Howmet Aerospace from $74.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Howmet Aerospace currently has an average rating of “Moderate Buy” and an average target price of $69.77.

Howmet Aerospace Price Performance

HWM traded up $1.79 on Friday, reaching $78.89. The company had a trading volume of 6,147,936 shares, compared to its average volume of 3,546,927. Howmet Aerospace Inc. has a one year low of $42.17 and a one year high of $79.47. The company has a market capitalization of $32.22 billion, a P/E ratio of 38.11, a PEG ratio of 1.91 and a beta of 1.41. The company has a fifty day moving average of $66.70 and a 200-day moving average of $58.16. The company has a current ratio of 1.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the firm posted $0.42 earnings per share. The business’s revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts anticipate that Howmet Aerospace Inc. will post 2.37 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Friday, May 10th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, May 9th. Howmet Aerospace’s dividend payout ratio is presently 9.66%.

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.