Industrial Alliance Investment Management Inc. Lowers Stake in Howmet Aerospace Inc. (NYSE:HWM)

Industrial Alliance Investment Management Inc. cut its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 86.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 920 shares of the company’s stock after selling 6,025 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Howmet Aerospace were worth $71,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cultivar Capital Inc. acquired a new position in Howmet Aerospace in the 2nd quarter valued at about $26,000. Versant Capital Management Inc increased its holdings in shares of Howmet Aerospace by 1,209.1% in the second quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock valued at $34,000 after purchasing an additional 399 shares during the period. Whittier Trust Co. raised its stake in shares of Howmet Aerospace by 81.4% during the first quarter. Whittier Trust Co. now owns 508 shares of the company’s stock worth $35,000 after purchasing an additional 228 shares during the last quarter. AlphaCentric Advisors LLC acquired a new stake in shares of Howmet Aerospace during the second quarter worth $36,000. Finally, West Oak Capital LLC purchased a new position in Howmet Aerospace in the 2nd quarter valued at $39,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Price Performance

Shares of NYSE HWM traded down $0.30 on Friday, hitting $96.66. The company’s stock had a trading volume of 3,153,456 shares, compared to its average volume of 3,138,775. The stock has a 50 day moving average of $86.31 and a 200-day moving average of $77.00. The company has a market capitalization of $39.45 billion, a price-to-earnings ratio of 46.70, 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 $98.15. 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 posted its earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the company earned $0.44 EPS. Howmet Aerospace’s revenue was up 14.1% on a year-over-year basis. As a group, research analysts predict that Howmet Aerospace Inc. will post 2.6 EPS for the current year.

Howmet Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, August 9th. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.05. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.33%. Howmet Aerospace’s payout ratio is 15.46%.

Insider Activity at Howmet Aerospace

In related news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the transaction, the executive vice president now directly owns 92,687 shares in the company, valued at approximately $8,985,077.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 258,160 shares of company stock valued at $24,556,718. Company insiders own 1.12% of the company’s stock.

Wall Street Analysts Forecast Growth

HWM has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. BTIG Research increased their price target on shares of Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Robert W. Baird lifted their price objective on Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Argus increased their target price on Howmet Aerospace from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, Northcoast Research reissued a “sell” rating and issued a $70.00 price target on shares of Howmet Aerospace in a report on Friday, June 14th. 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $90.67.

Howmet Aerospace Company 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.