Handelsbanken Fonder AB Purchases Shares of 23,376 Howmet Aerospace Inc. (NYSE:HWM)

Handelsbanken Fonder AB acquired a new stake in Howmet Aerospace Inc. (NYSE:HWM) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 23,376 shares of the company’s stock, valued at approximately $3,033,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Curated Wealth Partners LLC boosted its stake in Howmet Aerospace by 4.1% in the 1st quarter. Curated Wealth Partners LLC now owns 2,510 shares of the company’s stock worth $326,000 after purchasing an additional 99 shares during the period. Sonora Investment Management Group LLC bought a new position in Howmet Aerospace in the 1st quarter worth $204,000. Accurate Wealth Management LLC raised its holdings in Howmet Aerospace by 6.7% in the 1st quarter. Accurate Wealth Management LLC now owns 2,543 shares of the company’s stock worth $319,000 after acquiring an additional 160 shares during the period. GAMMA Investing LLC grew its position in Howmet Aerospace by 22.1% in the 1st quarter. GAMMA Investing LLC now owns 10,238 shares of the company’s stock worth $1,328,000 after purchasing an additional 1,854 shares during the last quarter. Finally, Yousif Capital Management LLC grew its position in Howmet Aerospace by 1.3% in the 1st quarter. Yousif Capital Management LLC now owns 54,501 shares of the company’s stock worth $7,070,000 after purchasing an additional 675 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $170.91 on Friday. The firm’s 50 day moving average price is $151.46 and its 200-day moving average price is $132.83. The stock has a market capitalization of $68.99 billion, a PE ratio of 60.61, a price-to-earnings-growth ratio of 1.92 and a beta of 1.44. Howmet Aerospace Inc. has a twelve month low of $76.83 and a twelve month high of $177.25. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74.

Howmet Aerospace (NYSE:HWM) last posted 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. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the firm posted $0.53 earnings per share. Howmet Aerospace’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Announces Dividend

The firm 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 payout ratio is 13.03%.

Wall Street Analysts Forecast Growth

HWM has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of Howmet Aerospace from $125.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. The Goldman Sachs Group boosted their price target on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Royal Bank of Canada upped their target price on shares of Howmet Aerospace from $165.00 to $200.00 and gave the company an “outperform” rating in a research note on Monday, June 9th. Northcoast Research raised shares of Howmet Aerospace from a “sell” rating to a “neutral” rating in a research report on Wednesday, April 9th. Finally, Wells Fargo & Company raised their target price on shares of Howmet Aerospace from $118.00 to $145.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Howmet Aerospace presently has a consensus rating of “Moderate Buy” and an average target price of $137.88.

Insider Transactions at Howmet Aerospace

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

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.