Bank of New York Mellon Corp Sells 2,616,768 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Bank of New York Mellon Corp decreased its stake in shares of Howmet Aerospace Inc. (NYSE:HWMGet Rating) by 32.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,512,237 shares of the company’s stock after selling 2,616,768 shares during the period. Bank of New York Mellon Corp owned approximately 1.33% of Howmet Aerospace worth $170,494,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in HWM. US Bancorp DE increased its position in shares of Howmet Aerospace by 9.7% during the first quarter. US Bancorp DE now owns 20,717 shares of the company’s stock worth $745,000 after acquiring an additional 1,834 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Howmet Aerospace by 299.5% during the first quarter. HighTower Advisors LLC now owns 31,892 shares of the company’s stock worth $1,147,000 after acquiring an additional 23,910 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of Howmet Aerospace by 2.2% during the first quarter. Panagora Asset Management Inc. now owns 31,230 shares of the company’s stock worth $1,122,000 after acquiring an additional 663 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Howmet Aerospace by 5.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,781 shares of the company’s stock worth $1,825,000 after acquiring an additional 2,520 shares in the last quarter. Finally, APG Asset Management N.V. boosted its holdings in Howmet Aerospace by 4.0% during the first quarter. APG Asset Management N.V. now owns 20,900 shares of the company’s stock worth $675,000 after purchasing an additional 800 shares during the last quarter. Institutional investors own 91.49% of the company’s stock.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 57,000 shares of the stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $43.61, for a total value of $2,485,770.00. Following the transaction, the executive vice president now directly owns 286,751 shares of the company’s stock, valued at $12,505,211.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Neil Edward Marchuk sold 57,000 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $43.61, for a total transaction of $2,485,770.00. Following the transaction, the executive vice president now directly owns 286,751 shares of the company’s stock, valued at $12,505,211.11. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Barbara Lou Shultz sold 4,627 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $42.16, for a total transaction of $195,074.32. Following the transaction, the vice president now directly owns 20,542 shares in the company, valued at $866,050.72. The disclosure for this sale can be found here. Insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HWM shares. Truist Financial increased their target price on shares of Howmet Aerospace from $35.00 to $39.00 and gave the stock a “hold” rating in a report on Wednesday, February 15th. Wells Fargo & Company increased their target price on shares of Howmet Aerospace from $43.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, February 15th. Benchmark cut shares of Howmet Aerospace from a “buy” rating to a “hold” rating in a report on Wednesday, February 15th. Morgan Stanley increased their target price on shares of Howmet Aerospace from $47.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, February 15th. Finally, Argus increased their target price on shares of Howmet Aerospace from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.78.

Howmet Aerospace Stock Performance

Shares of HWM stock opened at $39.21 on Friday. The stock has a market cap of $16.17 billion, a P/E ratio of 35.32, a P/E/G ratio of 1.05 and a beta of 1.46. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.12 and a quick ratio of 1.04. The company has a fifty day moving average price of $41.14 and a two-hundred day moving average price of $37.81. Howmet Aerospace Inc. has a one year low of $29.84 and a one year high of $44.37.

Howmet Aerospace (NYSE:HWMGet Rating) last issued its quarterly earnings data on Tuesday, February 14th. The company reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.47 billion. Howmet Aerospace had a net margin of 8.28% and a return on equity of 17.53%. The company’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. As a group, equities analysts predict that Howmet Aerospace Inc. will post 1.63 EPS for the current year.

Howmet Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 27th. Stockholders of record on Friday, February 10th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Thursday, February 9th. Howmet Aerospace’s payout ratio is presently 14.41%.

Howmet Aerospace Profile

(Get Rating)

Howmet Aerospace, Inc engages in provision of engineered solutions for the aerospace and transportation industries. It operates through the following segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels. The Engine Products segment produces investment castings, including airfoils, and seamless rolled rings primarily for aircraft engines (aerospace commercial and defense) and industrial gas turbines.

Featured Stories

Want to see what other hedge funds are holding HWM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Howmet Aerospace Inc. (NYSE:HWMGet Rating).

Institutional Ownership by Quarter for Howmet Aerospace (NYSE:HWM)

Receive News & Ratings for Howmet Aerospace Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Howmet Aerospace and related companies with MarketBeat.com's FREE daily email newsletter.