Assenagon Asset Management S.A. Boosts Stake in Howmet Aerospace Inc. (NYSE:HWM)

Assenagon Asset Management S.A. increased its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 695.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 558,017 shares of the company’s stock after acquiring an additional 487,880 shares during the period. Assenagon Asset Management S.A. owned approximately 0.14% of Howmet Aerospace worth $55,941,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of HWM. Park Avenue Securities LLC purchased a new position in shares of Howmet Aerospace in the 1st quarter valued at about $263,000. Wealth Enhancement Advisory Services LLC increased its holdings in Howmet Aerospace by 2.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,746 shares of the company’s stock valued at $872,000 after buying an additional 246 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Howmet Aerospace by 16.3% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 23,508 shares of the company’s stock valued at $1,609,000 after acquiring an additional 3,299 shares during the period. Oak Thistle LLC boosted its stake in shares of Howmet Aerospace by 8.3% during the 1st quarter. Oak Thistle LLC now owns 8,150 shares of the company’s stock worth $558,000 after acquiring an additional 626 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Howmet Aerospace by 16.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 141,223 shares of the company’s stock worth $9,664,000 after acquiring an additional 19,431 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Benchmark boosted their target price on Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Truist Financial boosted their price objective on shares of Howmet Aerospace from $105.00 to $123.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. KeyCorp downgraded shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a report on Thursday. BTIG Research upped their price target on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Sanford C. Bernstein raised their price objective on shares of Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research note on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.50.

Howmet Aerospace Stock Performance

Howmet Aerospace stock opened at $100.62 on Friday. The stock has a fifty day moving average price of $98.58 and a 200 day moving average price of $86.12. 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 Inc. has a 52 week low of $42.94 and a 52 week high of $106.93. The firm has a market capitalization of $41.07 billion, a P/E ratio of 48.61, a PEG ratio of 1.51 and a beta of 1.46.

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

Howmet Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. Howmet Aerospace’s payout ratio is 15.46%.

Insider Activity at Howmet Aerospace

In other news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace 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 transaction, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at $14,982,938.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the sale, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 transaction, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is owned by insiders.

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.