Assetmark Inc. Reduces Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Assetmark Inc. reduced its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 14.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 640 shares of the company’s stock after selling 107 shares during the quarter. Assetmark Inc.’s holdings in Howmet Aerospace were worth $83,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new stake in Howmet Aerospace during the 4th quarter valued at approximately $25,000. Kapitalo Investimentos Ltda acquired a new stake in Howmet Aerospace during the 4th quarter valued at approximately $30,000. GPS Wealth Strategies Group LLC grew its stake in Howmet Aerospace by 114.6% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 264 shares of the company’s stock valued at $34,000 after purchasing an additional 141 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Howmet Aerospace during the 1st quarter valued at approximately $37,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in Howmet Aerospace during the 4th quarter valued at approximately $39,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Howmet Aerospace Trading Down 1.8%

NYSE:HWM opened at $180.95 on Tuesday. Howmet Aerospace Inc. has a 12-month low of $85.39 and a 12-month high of $193.26. The firm has a market capitalization of $72.95 billion, a P/E ratio of 52.91, a P/E/G ratio of 2.58 and a beta of 1.48. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.31 and a quick ratio of 1.08. The business has a 50 day simple moving average of $178.67 and a 200 day simple moving average of $149.90.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Howmet Aerospace had a return on equity of 28.17% and a net margin of 18.09%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. Equities research analysts predict that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Friday, August 8th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, August 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.3%. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.10. Howmet Aerospace’s payout ratio is presently 11.70%.

Insider Buying and Selling

In related news, CEO John C. Plant sold 800,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the completion of the transaction, the chief executive officer owned 236,544 shares in the company, valued at $37,127,946.24. The trade was a 77.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Neil Edward Marchuk sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $158.53, for a total value of $4,755,900.00. Following the transaction, the executive vice president owned 131,859 shares of the company’s stock, valued at $20,903,607.27. This represents a 18.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on HWM shares. Truist Financial raised their price objective on Howmet Aerospace from $161.00 to $192.00 and gave the company a “buy” rating in a research note on Thursday, June 12th. JPMorgan Chase & Co. raised their price objective on Howmet Aerospace from $150.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company raised their price objective on Howmet Aerospace from $118.00 to $145.00 and gave the company an “equal weight” rating in a research note on Friday, May 2nd. Morgan Stanley raised their price objective on Howmet Aerospace from $170.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Finally, Susquehanna lifted their target price on Howmet Aerospace from $170.00 to $210.00 and gave the stock a “positive” rating in a research report on Monday, July 14th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Howmet Aerospace presently has an average rating of “Moderate Buy” and an average price target of $160.80.

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.