Pallas Capital Advisors LLC Raises Stake in Howmet Aerospace Inc. (NYSE:HWM)

Pallas Capital Advisors LLC raised its position in Howmet Aerospace Inc. (NYSE:HWM) by 16.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,835 shares of the company’s stock after acquiring an additional 1,837 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Howmet Aerospace were worth $1,665,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in HWM. Brighton Jones LLC lifted its stake in Howmet Aerospace by 5.4% in the fourth quarter. Brighton Jones LLC now owns 2,548 shares of the company’s stock worth $279,000 after acquiring an additional 130 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in Howmet Aerospace by 40.4% in the fourth quarter. Apollon Wealth Management LLC now owns 9,049 shares of the company’s stock worth $990,000 after acquiring an additional 2,602 shares during the last quarter. Kingsview Wealth Management LLC lifted its stake in Howmet Aerospace by 39.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 6,932 shares of the company’s stock worth $758,000 after acquiring an additional 1,970 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in Howmet Aerospace by 9.5% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 8,097 shares of the company’s stock worth $886,000 after acquiring an additional 700 shares during the last quarter. Finally, Moloney Securities Asset Management LLC purchased a new position in Howmet Aerospace in the fourth quarter worth approximately $969,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Northcoast Research upgraded shares of Howmet Aerospace from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 9th. UBS Group boosted their price objective on shares of Howmet Aerospace from $120.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. The Goldman Sachs Group boosted their price objective on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. BTIG Research restated a “buy” rating on shares of Howmet Aerospace in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.59.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock opened at $172.88 on Tuesday. The firm’s fifty day simple moving average is $147.18 and its 200-day simple moving average is $131.55. The stock has a market capitalization of $69.79 billion, a price-to-earnings ratio of 61.31, a PEG ratio of 1.92 and a beta of 1.44. Howmet Aerospace Inc. has a 12 month low of $76.83 and a 12 month high of $177.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.09. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. Howmet Aerospace’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. As a group, equities analysts forecast that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.23%. Howmet Aerospace’s dividend payout ratio (DPR) is presently 13.03%.

Insider Transactions at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 30,000 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $158.53, for a total value of $4,755,900.00. Following the transaction, the executive vice president now directly owns 131,859 shares in the company, valued at approximately $20,903,607.27. This represents a 18.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C. Plant sold 800,000 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the completion of the transaction, the chief executive officer now owns 236,544 shares in the company, valued at approximately $37,127,946.24. This trade represents a 77.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 831,250 shares of company stock valued at $130,517,863 in the last ninety days. 1.04% of the stock is currently owned by company insiders.

About Howmet Aerospace

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.