Founders Financial Alliance LLC Takes $326,000 Position in Howmet Aerospace Inc. (NYSE:HWM)

Founders Financial Alliance LLC acquired a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 2,513 shares of the company’s stock, valued at approximately $326,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Bank of Canada FI raised its stake in Howmet Aerospace by 23.8% in the 1st quarter. National Bank of Canada FI now owns 309,559 shares of the company’s stock worth $40,159,000 after acquiring an additional 59,459 shares during the last quarter. Citigroup Inc. raised its stake in Howmet Aerospace by 42.3% in the 1st quarter. Citigroup Inc. now owns 799,098 shares of the company’s stock worth $103,667,000 after acquiring an additional 237,403 shares during the last quarter. Pinpoint Asset Management Ltd raised its stake in Howmet Aerospace by 42.8% in the 1st quarter. Pinpoint Asset Management Ltd now owns 237 shares of the company’s stock worth $31,000 after acquiring an additional 71 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Howmet Aerospace by 14.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 709,458 shares of the company’s stock worth $92,038,000 after acquiring an additional 88,312 shares during the last quarter. Finally, CenterBook Partners LP purchased a new position in Howmet Aerospace in the 1st quarter worth $683,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Price Performance

NYSE:HWM opened at $180.67 on Friday. Howmet Aerospace Inc. has a 52 week low of $90.71 and a 52 week high of $193.26. The company has a quick ratio of 1.08, a current ratio of 2.31 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $72.83 billion, a PE ratio of 52.83, a price-to-earnings-growth ratio of 2.32 and a beta of 1.48. The stock’s 50-day moving average price is $179.54 and its 200-day moving average price is $151.08.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Thursday, July 31st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Howmet Aerospace had a return on equity of 28.17% and a net margin of 18.09%. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same period last year, the firm earned $0.67 EPS. The company’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, equities analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, August 8th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.10. Howmet Aerospace’s payout ratio is presently 11.70%.

Insider Activity

In related news, EVP Neil Edward Marchuk sold 30,000 shares of Howmet Aerospace stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $158.53, for a total value of $4,755,900.00. Following the sale, the executive vice president directly owned 131,859 shares in the company, valued at approximately $20,903,607.27. The trade was a 18.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John C. Plant sold 800,000 shares of Howmet Aerospace stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $156.96, for a total value of $125,568,000.00. Following the completion of the sale, the chief executive officer owned 236,544 shares in the company, valued at approximately $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. Insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Howmet Aerospace from $150.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, August 4th. Royal Bank Of Canada restated an “outperform” rating on shares of Howmet Aerospace in a research note on Monday, June 30th. UBS Group raised their target price on Howmet Aerospace from $120.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Barclays restated an “overweight” rating and issued a $190.00 target price (up previously from $140.00) on shares of Howmet Aerospace in a research note on Monday, August 4th. Finally, Truist Financial increased their price target on Howmet Aerospace from $161.00 to $192.00 and gave the stock a “buy” rating in a research report on Thursday, June 12th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.13.

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.