Howmet Aerospace Inc. (NYSE:HWM) Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers raised its stake in Howmet Aerospace Inc. (NYSE:HWM) by 10.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,629 shares of the company’s stock after buying an additional 7,858 shares during the period. Cetera Investment Advisers’ holdings in Howmet Aerospace were worth $10,460,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. increased its holdings in Howmet Aerospace by 18.2% in the first quarter. Avantax Advisory Services Inc. now owns 10,421 shares of the company’s stock valued at $1,352,000 after buying an additional 1,601 shares in the last quarter. Brookwood Investment Group LLC purchased a new position in Howmet Aerospace in the first quarter valued at about $340,000. Lifeworks Advisors LLC increased its holdings in Howmet Aerospace by 57.0% in the first quarter. Lifeworks Advisors LLC now owns 3,069 shares of the company’s stock valued at $398,000 after buying an additional 1,114 shares in the last quarter. Dorsey Wright & Associates grew its position in shares of Howmet Aerospace by 0.6% in the first quarter. Dorsey Wright & Associates now owns 20,541 shares of the company’s stock valued at $2,665,000 after purchasing an additional 116 shares during the last quarter. Finally, Burney Co. grew its position in shares of Howmet Aerospace by 402.8% in the first quarter. Burney Co. now owns 106,044 shares of the company’s stock valued at $13,757,000 after purchasing an additional 84,954 shares during the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Stock Performance

Shares of HWM opened at $192.64 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.07 and a current ratio of 2.30. The company has a market capitalization of $77.76 billion, a price-to-earnings ratio of 62.75, a PEG ratio of 2.78 and a beta of 1.43. The company’s 50 day simple moving average is $177.62 and its 200 day simple moving average is $148.24. Howmet Aerospace Inc. has a 1 year low of $85.39 and a 1 year high of $193.26.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Howmet Aerospace had a net margin of 16.64% and a return on equity of 27.25%. Howmet Aerospace’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.53 earnings per share. On average, sell-side analysts predict that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Friday, August 8th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, August 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.25%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.10. Howmet Aerospace’s dividend payout ratio (DPR) is currently 13.03%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wall Street Zen lowered shares of Howmet Aerospace from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Benchmark increased their price target on shares of Howmet Aerospace from $85.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, April 21st. Wells Fargo & Company increased their price target 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. BTIG Research reiterated a “buy” rating on shares of Howmet Aerospace in a research report on Monday, May 5th. Finally, Truist Financial increased their price target on shares of Howmet Aerospace from $161.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday, June 12th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Howmet Aerospace presently has an average rating of “Moderate Buy” and a consensus target price of $150.44.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 30,000 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 131,859 shares of the company’s stock, valued at $20,903,607.27. This trade represents a 18.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John C. Plant sold 800,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 236,544 shares in the company, valued at approximately $37,127,946.24. This represents a 77.18% decrease in their position. 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 over the last quarter. Company insiders own 1.04% of the company’s stock.

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.