Howmet Aerospace Inc. (NYSE:HWM) Position Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 9.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 121,792 shares of the company’s stock after selling 13,016 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Howmet Aerospace were worth $6,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in Howmet Aerospace by 1,025.8% in the 4th quarter. International Assets Investment Management LLC now owns 142,127 shares of the company’s stock worth $7,692,000 after buying an additional 129,502 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in Howmet Aerospace by 7.1% during the 4th quarter. Bleakley Financial Group LLC now owns 4,922 shares of the company’s stock valued at $266,000 after purchasing an additional 326 shares in the last quarter. Avitas Wealth Management LLC boosted its stake in Howmet Aerospace by 2.9% during the 4th quarter. Avitas Wealth Management LLC now owns 23,965 shares of the company’s stock valued at $1,297,000 after purchasing an additional 667 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in Howmet Aerospace by 1.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 155,340 shares of the company’s stock valued at $8,405,000 after purchasing an additional 2,313 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Howmet Aerospace by 0.5% during the 4th quarter. Arizona State Retirement System now owns 107,627 shares of the company’s stock valued at $5,825,000 after purchasing an additional 511 shares in the last quarter. 90.46% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $67.44, for a total value of $3,034,800.00. Following the completion of the sale, the executive vice president now owns 229,568 shares in the company, valued at $15,482,065.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.23% of the company’s stock.

Howmet Aerospace Price Performance

HWM opened at $63.50 on Friday. The stock has a fifty day moving average of $65.61 and a 200-day moving average of $56.29. The firm has a market capitalization of $25.93 billion, a P/E ratio of 34.70, a PEG ratio of 1.67 and a beta of 1.43. Howmet Aerospace Inc. has a 12-month low of $42.17 and a 12-month high of $69.55. The company has a quick ratio of 0.87, a current ratio of 1.86 and a debt-to-equity ratio of 0.88.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.06. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.65 billion. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share. Equities analysts forecast that Howmet Aerospace Inc. will post 2.18 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Friday, February 9th were issued a $0.05 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.31%. Howmet Aerospace’s payout ratio is currently 10.93%.

Analyst Ratings Changes

A number of brokerages have issued reports on HWM. JPMorgan Chase & Co. increased their price target on Howmet Aerospace from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Sanford C. Bernstein began coverage on Howmet Aerospace in a research note on Friday, January 5th. They set an “outperform” rating and a $67.00 price target for the company. UBS Group increased their price target on Howmet Aerospace from $57.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. The Goldman Sachs Group increased their price objective on Howmet Aerospace from $65.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Robert W. Baird increased their price objective on Howmet Aerospace from $65.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.00.

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.