Congress Asset Management Co. Grows Position in Howmet Aerospace Inc. (NYSE:HWM)

Congress Asset Management Co. boosted its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 3.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,270,111 shares of the company’s stock after buying an additional 36,943 shares during the period. Congress Asset Management Co.’s holdings in Howmet Aerospace were worth $127,329,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cultivar Capital Inc. purchased a new stake in shares of Howmet Aerospace in the second quarter worth about $26,000. LGT Financial Advisors LLC raised its holdings 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 bought a new position in shares of Howmet Aerospace during the 2nd quarter valued at approximately $32,000. Versant Capital Management Inc grew its holdings 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 valued at $34,000 after purchasing an additional 399 shares in the last quarter. Finally, Whittier Trust Co. increased its position in Howmet Aerospace by 81.4% in 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. 90.46% of the stock is currently owned by institutional investors.

Insider Activity at Howmet Aerospace

In related news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the transaction, the chief financial officer now owns 155,135 shares in the company, valued at $14,982,938.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace 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 transaction, the executive vice president now owns 92,687 shares in the company, valued at approximately $8,985,077.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ken Giacobbe sold 154,909 shares of the company’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 sale, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.

Howmet Aerospace Trading Down 0.8 %

Shares of HWM traded down $0.85 during midday trading on Thursday, hitting $100.29. 283,512 shares of the stock were exchanged, compared to its average volume of 2,948,560. Howmet Aerospace Inc. has a 52-week low of $43.50 and a 52-week high of $106.93. The stock has a fifty day simple moving average of $99.10 and a 200 day simple moving average of $87.37. The firm has a market cap of $40.93 billion, a P/E ratio of 48.91, a P/E/G ratio of 1.51 and a beta of 1.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53.

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

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.32%. The ex-dividend date is Friday, November 8th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 15.46%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Susquehanna started coverage on shares of Howmet Aerospace in a research note on Tuesday, October 8th. They issued a “positive” rating and a $120.00 price objective for the company. KeyCorp lowered Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Truist Financial upped their price objective on shares of Howmet Aerospace from $105.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Benchmark boosted their price target on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 12th. Finally, Barclays increased their target price on Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Howmet Aerospace presently has an average rating of “Moderate Buy” and an average target price of $101.50.

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.