Assetmark Inc. Increases Position in Howmet Aerospace Inc. (NYSE:HWM)

Assetmark Inc. raised its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 40.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 441 shares of the company’s stock after buying an additional 126 shares during the period. Assetmark Inc.’s holdings in Howmet Aerospace were worth $44,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Hollencrest Capital Management purchased a new position in Howmet Aerospace during the 3rd quarter valued at about $30,000. Cultivar Capital Inc. purchased a new stake in Howmet Aerospace during the second quarter worth about $26,000. LGT Financial Advisors LLC lifted its position in shares of Howmet Aerospace by 278.7% during the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after purchasing an additional 262 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Howmet Aerospace in the second quarter valued at approximately $32,000. Finally, Versant Capital Management Inc grew 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 in the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Ken Giacobbe sold 154,909 shares of the firm’s 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 owns 155,135 shares of the company’s stock, valued at $14,982,938.30. This trade represents a 49.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following 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 43.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by company insiders.

Howmet Aerospace Trading Up 1.0 %

NYSE HWM opened at $113.17 on Tuesday. The firm’s fifty day moving average price is $102.76 and its 200 day moving average price is $91.54. Howmet Aerospace Inc. has a 12 month low of $51.22 and a 12 month high of $116.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.24 and a quick ratio of 0.98. The company has a market capitalization of $45.98 billion, a price-to-earnings ratio of 43.19, a price-to-earnings-growth ratio of 1.50 and a beta of 1.46.

Howmet Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s payout ratio is currently 12.21%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on HWM shares. Wells Fargo & Company increased their target price on shares of Howmet Aerospace from $113.00 to $129.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Barclays increased their price objective on Howmet Aerospace from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. KeyCorp cut Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Truist Financial increased their price target on Howmet Aerospace from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada boosted their price objective on Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $115.41.

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.