South Street Advisors LLC Has $14.28 Million Position in Howmet Aerospace Inc. (NYSE:HWM)

South Street Advisors LLC lowered its position in Howmet Aerospace Inc. (NYSE:HWM) by 20.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 183,915 shares of the company’s stock after selling 47,578 shares during the period. Howmet Aerospace comprises 2.2% of South Street Advisors LLC’s investment portfolio, making the stock its 18th biggest position. South Street Advisors LLC’s holdings in Howmet Aerospace were worth $14,277,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HWM. Private Advisor Group LLC increased its holdings in Howmet Aerospace by 27.3% in the fourth quarter. Private Advisor Group LLC now owns 14,998 shares of the company’s stock worth $812,000 after buying an additional 3,214 shares during the last quarter. Principal Securities Inc. bought a new stake in Howmet Aerospace during the fourth quarter worth approximately $93,000. QRG Capital Management Inc. boosted its position in Howmet Aerospace by 45.0% during the fourth quarter. QRG Capital Management Inc. now owns 12,762 shares of the company’s stock worth $691,000 after purchasing an additional 3,959 shares during the period. Principal Financial Group Inc. boosted its position in Howmet Aerospace by 0.6% during the fourth quarter. Principal Financial Group Inc. now owns 1,023,314 shares of the company’s stock worth $55,382,000 after purchasing an additional 6,360 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Howmet Aerospace by 6.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 382,981 shares of the company’s stock worth $20,206,000 after purchasing an additional 23,999 shares during the period. Institutional investors and hedge funds own 90.46% of the company’s stock.

Analyst Upgrades and Downgrades

HWM has been the subject of a number of recent analyst reports. Robert W. Baird upped their target price on Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price 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. Barclays increased their price target on shares of Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, August 5th. KeyCorp boosted their price objective on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada increased their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.67.

Howmet Aerospace Trading Down 0.6 %

HWM stock opened at $93.15 on Wednesday. Howmet Aerospace Inc. has a 1-year low of $42.94 and a 1-year high of $98.15. The firm has a market cap of $38.02 billion, a P/E ratio of 45.00, a P/E/G ratio of 1.37 and a beta of 1.46. The business’s 50 day moving average is $88.80 and its 200-day moving average is $78.94. The company has a current ratio of 1.53, a quick ratio of 0.74 and a debt-to-equity ratio of 0.68.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.83 billion. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. Howmet Aerospace’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 EPS. Equities analysts anticipate that Howmet Aerospace Inc. will post 2.59 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.08 dividend. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.05. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend was Friday, August 9th. Howmet Aerospace’s payout ratio is presently 15.46%.

Insiders Place Their Bets

In other news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction on 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 owns 92,687 shares of the company’s stock, 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. In other news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction on 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 owns 92,687 shares of the company’s stock, 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 company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of 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. Company insiders own 1.12% 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.