Procyon Advisors LLC Lowers Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

Procyon Advisors LLC reduced its stake in shares of Howmet Aerospace Inc. (NYSE:HWMFree Report) by 28.9% during the third quarter, Holdings Channel reports. The institutional investor owned 20,212 shares of the company’s stock after selling 8,196 shares during the period. Procyon Advisors LLC’s holdings in Howmet Aerospace were worth $2,026,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in HWM. Centaurus Financial Inc. purchased a new position in shares of Howmet Aerospace during the 4th quarter valued at about $122,000. American International Group Inc. lifted its position in shares of Howmet Aerospace by 1.6% during the 4th quarter. American International Group Inc. now owns 105,188 shares of the company’s stock valued at $5,693,000 after buying an additional 1,672 shares in the last quarter. SageView Advisory Group LLC purchased a new position in shares of Howmet Aerospace during the 4th quarter valued at about $205,000. Vanguard Group Inc. lifted its position in shares of Howmet Aerospace by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock valued at $2,448,804,000 after buying an additional 1,274,974 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Howmet Aerospace by 2.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 52,108 shares of the company’s stock valued at $2,820,000 after buying an additional 1,397 shares in the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Price Performance

Howmet Aerospace stock opened at $102.65 on Tuesday. The company has a market cap of $41.90 billion, a price-to-earnings ratio of 49.59, a PEG ratio of 1.51 and a beta of 1.46. The firm’s fifty day moving average is $96.77 and its 200 day moving average is $84.38. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. Howmet Aerospace Inc. has a 52-week low of $42.94 and a 52-week high of $104.42.

Howmet Aerospace (NYSE:HWMGet Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts forecast that Howmet Aerospace Inc. will post 2.59 EPS for the current fiscal year.

Howmet Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s dividend payout ratio is currently 15.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HWM shares. Royal Bank of Canada lifted their price objective on Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Barclays lifted their price objective on shares of Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. upped their target price on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Truist Financial upped their target price on shares of Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Benchmark upped their target price on shares of Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Howmet Aerospace presently has a consensus rating of “Moderate Buy” and an average target price of $96.63.

View Our Latest Stock Analysis on Howmet Aerospace

Insider Activity

In other news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total value of $14,961,111.22. Following the sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other 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 value of $6,847,550.78. Following the transaction, the executive vice president now directly owns 92,687 shares in the company, valued at approximately $8,985,077.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was 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 owns 155,135 shares in the company, valued at approximately $14,982,938.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

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.

See Also

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

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