Azzad Asset Management Inc. ADV Purchases New Position in Howmet Aerospace Inc. (NYSE:HWM)

Azzad Asset Management Inc. ADV purchased a new stake in Howmet Aerospace Inc. (NYSE:HWM) during the first quarter, Holdings Channel reports. The institutional investor purchased 28,934 shares of the company’s stock, valued at approximately $3,754,000.

Other hedge funds have also modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Howmet Aerospace in the 4th quarter valued at approximately $25,000. Meeder Asset Management Inc. raised its holdings in Howmet Aerospace by 208.1% during the 4th quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock worth $25,000 after buying an additional 154 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in Howmet Aerospace during the 4th quarter worth approximately $25,000. Washington Trust Advisors Inc. acquired a new stake in Howmet Aerospace during the 4th quarter worth approximately $29,000. Finally, GPS Wealth Strategies Group LLC raised its holdings in Howmet Aerospace by 114.6% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 264 shares of the company’s stock worth $34,000 after buying an additional 141 shares during the period. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Trading Down 0.4%

Shares of Howmet Aerospace stock opened at $170.91 on Friday. The firm has a 50-day moving average of $151.46 and a 200-day moving average of $132.83. The stock has a market cap of $68.99 billion, a PE ratio of 60.61, a PEG ratio of 1.92 and a beta of 1.44. Howmet Aerospace Inc. has a 52-week low of $76.83 and a 52-week high of $177.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. The company had revenue of $1.94 billion during 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 quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.53 earnings per share. As a group, sell-side analysts forecast that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 9th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.40 annualized dividend and a yield of 0.23%. Howmet Aerospace’s dividend payout ratio is 13.03%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank of Canada raised their target price on shares of Howmet Aerospace from $165.00 to $200.00 and gave the stock an “outperform” rating in a report on Monday, June 9th. Barclays raised their target price on shares of Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. UBS Group lifted their price objective on shares of Howmet Aerospace from $120.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, May 2nd. Northcoast Research upgraded shares of Howmet Aerospace from a “sell” rating to a “neutral” rating in a report on Wednesday, April 9th. Finally, BTIG Research reiterated a “buy” rating on shares of Howmet Aerospace in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.88.

Insider Buying and Selling

In related 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 transaction of $4,755,900.00. Following the completion of the sale, the executive vice president now owns 131,859 shares of the company’s stock, valued at $20,903,607.27. This represents a 18.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John C. Plant sold 800,000 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the sale, the chief executive officer now directly owns 236,544 shares of the company’s stock, valued at $37,127,946.24. This represents a 77.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 831,250 shares of company stock valued at $130,517,863 over the last quarter. 1.04% of the stock is owned by company insiders.

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.