The Manufacturers Life Insurance Company Sells 871 Shares of Howmet Aerospace Inc. (NYSE:HWM)

The Manufacturers Life Insurance Company reduced its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 0.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 235,785 shares of the company’s stock after selling 871 shares during the period. The Manufacturers Life Insurance Company owned about 0.06% of Howmet Aerospace worth $18,304,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Cultivar Capital Inc. bought a new position in shares of Howmet Aerospace in the second quarter worth about $26,000. LGT Financial Advisors LLC raised its stake in shares of Howmet Aerospace by 278.7% in the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after acquiring an additional 262 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Howmet Aerospace in the second quarter worth about $32,000. Versant Capital Management Inc raised its stake 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 worth $34,000 after acquiring an additional 399 shares during the last quarter. Finally, AlphaCentric Advisors LLC bought a new position in shares of Howmet Aerospace in the second quarter worth about $36,000. 90.46% of the stock is owned by institutional investors.

Insider Transactions at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 70,637 shares of the 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 owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Neil Edward Marchuk sold 70,637 shares of the 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 owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction 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 disclosure for this sale can be found here. 1.12% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HWM shares. JPMorgan Chase & Co. boosted 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. BTIG Research increased their price objective 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. Truist Financial increased their price objective on shares of Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Barclays increased their price objective on shares of Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Robert W. Baird increased their price objective on shares of Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.93.

Howmet Aerospace Stock Up 0.7 %

Shares of NYSE:HWM opened at $100.92 on Wednesday. Howmet Aerospace Inc. has a 52 week low of $42.94 and a 52 week high of $101.70. 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 $41.19 billion, a PE ratio of 48.75, a PEG ratio of 1.47 and a beta of 1.46. The company has a 50 day moving average price of $94.10 and a two-hundred day moving average price of $82.17.

Howmet Aerospace (NYSE:HWM) last issued its earnings results 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 firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up 14.1% on a year-over-year basis. Analysts forecast that Howmet Aerospace Inc. will post 2.59 earnings per share for the current year.

Howmet Aerospace Dividend Announcement

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

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.