California Public Employees Retirement System Trims Stake in Howmet Aerospace Inc. (NYSE:HWM)

California Public Employees Retirement System lowered its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 4.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 722,379 shares of the company’s stock after selling 37,024 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Howmet Aerospace worth $39,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Valeo Financial Advisors LLC increased its position in shares of Howmet Aerospace by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 4,571 shares of the company’s stock valued at $247,000 after buying an additional 200 shares during the period. Geneos Wealth Management Inc. increased its position in shares of Howmet Aerospace by 10.0% during the fourth quarter. Geneos Wealth Management Inc. now owns 2,259 shares of the company’s stock valued at $122,000 after buying an additional 205 shares during the period. Venturi Wealth Management LLC increased its position in shares of 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. Lindbrook Capital LLC increased its position in shares of Howmet Aerospace by 34.4% during the fourth quarter. Lindbrook Capital LLC now owns 894 shares of the company’s stock valued at $48,000 after buying an additional 229 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Howmet Aerospace by 0.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,869 shares of the company’s stock valued at $2,645,000 after buying an additional 247 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Up 2.5 %

HWM opened at $66.40 on Friday. The company has a current ratio of 1.86, a quick ratio of 0.87 and a debt-to-equity ratio of 0.88. Howmet Aerospace Inc. has a 1-year low of $42.17 and a 1-year high of $69.55. The company has a market capitalization of $27.12 billion, a PE ratio of 36.28, a PEG ratio of 1.68 and a beta of 1.43. The firm’s 50 day simple moving average is $65.97 and its two-hundred day simple moving average is $57.07.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.06. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.65 billion. Howmet Aerospace had a net margin of 11.52% and a return on equity of 20.12%. The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share. As a group, equities analysts forecast that Howmet Aerospace Inc. will post 2.18 EPS for the current year.

Howmet Aerospace Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.30%. The ex-dividend date is Thursday, May 9th. Howmet Aerospace’s dividend payout ratio is presently 10.93%.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now 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 the SEC website. 1.12% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barclays upped their price objective on shares of Howmet Aerospace from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Robert W. Baird upped their price objective on shares of Howmet Aerospace from $65.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Benchmark restated a “buy” rating and issued a $53.00 price objective on shares of Howmet Aerospace in a report on Friday, April 19th. KeyCorp upped their price objective on shares of Howmet Aerospace from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Finally, Truist Financial upgraded shares of Howmet Aerospace from a “hold” rating to a “buy” rating and upped their price objective for the stock from $47.00 to $74.00 in a report on Wednesday, January 10th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.00.

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.