Plato Investment Management Ltd Buys 2,469 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Plato Investment Management Ltd increased its stake in Howmet Aerospace Inc. (NYSE:HWM) by 16.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,668 shares of the company’s stock after purchasing an additional 2,469 shares during the period. Plato Investment Management Ltd’s holdings in Howmet Aerospace were worth $1,372,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Cultivar Capital Inc. acquired a new position in shares of Howmet Aerospace during the second quarter worth about $26,000. LGT Financial Advisors LLC grew its stake in shares of Howmet Aerospace by 278.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after acquiring an additional 262 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Howmet Aerospace in the second quarter valued at approximately $32,000. Versant Capital Management Inc lifted its position in shares of Howmet Aerospace by 1,209.1% in 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 in the last quarter. Finally, Whittier Trust Co. boosted its holdings in Howmet Aerospace by 81.4% during the first quarter. Whittier Trust Co. now owns 508 shares of the company’s stock worth $35,000 after purchasing an additional 228 shares during the last quarter. Institutional investors own 90.46% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction on Friday, August 23rd. The stock was 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 directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.

Howmet Aerospace Stock Up 1.1 %

HWM stock opened at $95.28 on Monday. Howmet Aerospace Inc. has a fifty-two week low of $42.94 and a fifty-two week high of $98.15. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74. The stock has a market capitalization of $38.89 billion, a price-to-earnings ratio of 46.03, a PEG ratio of 1.41 and a beta of 1.46. The business’s fifty day moving average price is $89.72 and its two-hundred day moving average price is $79.54.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.83 billion. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. Howmet Aerospace’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the firm earned $0.44 earnings per share. On average, equities analysts anticipate that Howmet Aerospace Inc. will post 2.59 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.32 dividend on an annualized basis and a yield of 0.34%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s dividend payout ratio is currently 15.46%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HWM. Truist Financial raised their price objective on Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada boosted their price target on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price objective on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Barclays boosted their target price on shares of Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Robert W. Baird increased their price target on shares of Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.67.

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.