Howmet Aerospace Inc. (NYSE:HWM) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System cut its position in shares of Howmet Aerospace Inc. (NYSE:HWMFree Report) by 0.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 107,045 shares of the company’s stock after selling 300 shares during the quarter. State of Michigan Retirement System’s holdings in Howmet Aerospace were worth $5,793,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Accurate Wealth Management LLC acquired a new position in shares of Howmet Aerospace during the 4th quarter valued at $2,825,000. QRG Capital Management Inc. acquired a new position in shares of Howmet Aerospace during the 3rd quarter valued at $407,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Howmet Aerospace during the 3rd quarter valued at $1,697,000. Victory Capital Management Inc. increased its position in shares of Howmet Aerospace by 15.0% during the 3rd quarter. Victory Capital Management Inc. now owns 347,072 shares of the company’s stock valued at $16,052,000 after purchasing an additional 45,246 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Howmet Aerospace by 4.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,020,155 shares of the company’s stock valued at $139,682,000 after purchasing an additional 114,939 shares during the period. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on HWM shares. Truist Financial upgraded Howmet Aerospace from a “hold” rating to a “buy” rating and lifted their target price for the stock from $47.00 to $74.00 in a report on Wednesday, January 10th. UBS Group lifted their target price on Howmet Aerospace from $57.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Robert W. Baird lifted their target price on Howmet Aerospace from $61.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. KeyCorp lifted their target price on Howmet Aerospace from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. lifted their target price on Howmet Aerospace from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $64.33.

Check Out Our Latest Analysis on HWM

Howmet Aerospace Price Performance

Shares of HWM opened at $66.00 on Thursday. The company has a market capitalization of $27.08 billion, a price-to-earnings ratio of 36.07, a P/E/G ratio of 1.71 and a beta of 1.43. Howmet Aerospace Inc. has a fifty-two week low of $41.40 and a fifty-two week high of $69.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.86 and a quick ratio of 0.87. The business’s 50-day moving average is $63.89 and its 200-day moving average is $54.93.

Howmet Aerospace (NYSE:HWMGet Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company posted $0.38 earnings per share. The firm’s revenue was up 14.4% on a year-over-year basis. Equities research analysts expect that Howmet Aerospace Inc. will post 2.19 EPS for the current fiscal year.

Howmet Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Friday, February 9th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.30%. Howmet Aerospace’s dividend payout ratio is currently 10.93%.

Insider Buying and Selling

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $67.44, for a total value of $3,034,800.00. Following the transaction, the executive vice president now owns 229,568 shares in the company, valued at $15,482,065.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.23% of the stock is currently owned by corporate insiders.

Howmet Aerospace Company Profile

(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.

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

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