Lone Pine Capital LLC Makes New $284.54 Million Investment in Howmet Aerospace Inc. (NYSE:HWM)

Lone Pine Capital LLC purchased a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,665,321 shares of the company’s stock, valued at approximately $284,539,000. Howmet Aerospace makes up approximately 2.3% of Lone Pine Capital LLC’s portfolio, making the stock its 21st biggest position. Lone Pine Capital LLC owned about 0.90% of Howmet Aerospace as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cigna Investments Inc. New boosted its position in shares of Howmet Aerospace by 3.8% during the second quarter. Cigna Investments Inc. New now owns 4,178 shares of the company’s stock valued at $324,000 after buying an additional 153 shares during the last quarter. Bleakley Financial Group LLC boosted its holdings in Howmet Aerospace by 3.2% in the first quarter. Bleakley Financial Group LLC now owns 5,080 shares of the company’s stock worth $348,000 after purchasing an additional 158 shares during the last quarter. HB Wealth Management LLC grew its position in Howmet Aerospace by 4.9% in the 2nd quarter. HB Wealth Management LLC now owns 3,664 shares of the company’s stock worth $284,000 after purchasing an additional 171 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Howmet Aerospace by 13.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,820 shares of the company’s stock valued at $141,000 after buying an additional 217 shares during the last quarter. Finally, Whittier Trust Co. lifted its holdings in shares of Howmet Aerospace by 81.4% during the 1st quarter. Whittier Trust Co. now owns 508 shares of the company’s stock valued at $35,000 after buying an additional 228 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Insider Activity

In other news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction that occurred on 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 approximately $14,982,938.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction dated 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 transaction, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction dated Friday, August 23rd. The stock was 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 in the company, valued at $8,985,077.78. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.

Howmet Aerospace Stock Up 0.7 %

NYSE HWM opened at $99.32 on Wednesday. The stock has a 50 day moving average price of $91.71 and a 200-day moving average price of $80.74. Howmet Aerospace Inc. has a one year low of $42.94 and a one year high of $99.60. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53. The company has a market capitalization of $40.54 billion, a P/E ratio of 47.98, a P/E/G ratio of 1.41 and a beta of 1.46.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business earned $0.44 earnings per share. Howmet Aerospace’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts predict that Howmet Aerospace Inc. will post 2.59 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were given a dividend of $0.08 per share. The ex-dividend date was Friday, August 9th. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.05. This represents a $0.32 dividend on an annualized basis and a yield of 0.32%. Howmet Aerospace’s dividend payout ratio is 15.46%.

Wall Street Analyst Weigh In

A number of research firms recently commented on HWM. BTIG Research upped their price objective on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Truist Financial boosted their price objective on Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Northcoast Research reiterated a “sell” rating and issued a $70.00 price target on shares of Howmet Aerospace in a research report on Friday, June 14th. Finally, Benchmark raised their price objective on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and an average price target of $90.67.

Howmet Aerospace 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.