DNB Asset Management AS Raises Stake in Howmet Aerospace Inc. (NYSE:HWM)

DNB Asset Management AS boosted its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 1.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 93,866 shares of the company’s stock after buying an additional 1,679 shares during the period. DNB Asset Management AS’s holdings in Howmet Aerospace were worth $7,287,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its stake in shares of Howmet Aerospace by 13.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,820 shares of the company’s stock valued at $141,000 after acquiring an additional 217 shares during the period. First Hawaiian Bank raised its holdings in shares of Howmet Aerospace by 125.8% during the 2nd quarter. First Hawaiian Bank now owns 13,719 shares of the company’s stock valued at $1,065,000 after buying an additional 7,643 shares during the period. GAMMA Investing LLC lifted its position in Howmet Aerospace by 42.4% during the 2nd quarter. GAMMA Investing LLC now owns 5,206 shares of the company’s stock worth $404,000 after acquiring an additional 1,551 shares in the last quarter. Railway Pension Investments Ltd purchased a new position in Howmet Aerospace in the 1st quarter worth approximately $2,833,000. Finally, DekaBank Deutsche Girozentrale grew its position in Howmet Aerospace by 67.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 80,414 shares of the company’s stock valued at $5,431,000 after acquiring an additional 32,431 shares in the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. KeyCorp boosted their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Robert W. Baird boosted their price objective on shares of Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Royal Bank of Canada lifted their target price on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Argus increased their price target on Howmet Aerospace from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Benchmark upped their target price on Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.67.

Insider Activity at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 32,614 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $84.26, for a total value of $2,748,055.64. Following the sale, the executive vice president now owns 217,687 shares of the company’s stock, valued at approximately $18,342,306.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.12% of the stock is currently owned by insiders.

Howmet Aerospace Stock Performance

Shares of NYSE:HWM traded up $2.33 during trading on Tuesday, reaching $89.08. 3,272,358 shares of the company’s stock traded hands, compared to its average volume of 3,273,140. The stock has a market capitalization of $36.36 billion, a P/E ratio of 41.92, a price-to-earnings-growth ratio of 1.58 and a beta of 1.45. Howmet Aerospace Inc. has a 12 month low of $42.94 and a 12 month high of $97.29. The company has a 50 day moving average of $82.02 and a 200-day moving average of $72.51. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.92.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the business earned $0.44 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. On average, equities analysts expect that Howmet Aerospace Inc. will post 2.6 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 9th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Friday, August 9th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s payout ratio is 15.46%.

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.