Assenagon Asset Management S.A. Acquires 70,648 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Assenagon Asset Management S.A. raised its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 22.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 388,615 shares of the company’s stock after acquiring an additional 70,648 shares during the period. Assenagon Asset Management S.A.’s holdings in Howmet Aerospace were worth $50,415,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of Howmet Aerospace during the fourth quarter valued at approximately $25,000. Meeder Asset Management Inc. grew its position in Howmet Aerospace by 208.1% in the 4th quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock worth $25,000 after purchasing an additional 154 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Howmet Aerospace during the 4th quarter valued at $25,000. Washington Trust Advisors Inc. purchased a new stake in Howmet Aerospace during the 4th quarter valued at $29,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Howmet Aerospace during the 4th quarter valued at $30,000. Institutional investors own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on HWM. UBS Group lifted their price objective on Howmet Aerospace from $120.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. Morgan Stanley increased their target price on Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Benchmark raised their target price on Howmet Aerospace from $85.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, April 21st. BTIG Research reaffirmed a “buy” rating on shares of Howmet Aerospace in a research report on Monday, May 5th. Finally, Truist Financial lowered their price objective on shares of Howmet Aerospace from $140.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.59.

Insider Transactions at Howmet Aerospace

In other Howmet Aerospace news, CEO John C. Plant sold 800,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 236,544 shares of the company’s stock, valued at $37,127,946.24. This trade represents a 77.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Barbara Lou Shultz sold 1,250 shares of Howmet Aerospace stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $155.17, for a total transaction of $193,962.50. Following the sale, the vice president now owns 23,044 shares in the company, valued at approximately $3,575,737.48. The trade was a 5.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 831,250 shares of company stock valued at $130,517,863 over the last 90 days. Company insiders own 1.04% of the company’s stock.

Howmet Aerospace Stock Performance

HWM opened at $170.84 on Thursday. The company has a 50 day simple moving average of $149.22 and a two-hundred day simple moving average of $132.08. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98. The firm has a market cap of $68.96 billion, a P/E ratio of 60.58, a PEG ratio of 1.92 and a beta of 1.44. Howmet Aerospace Inc. has a 1-year low of $76.83 and a 1-year high of $177.25.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Thursday, May 1st. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 EPS. Equities analysts forecast that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

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

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.