AustralianSuper Pty Ltd Buys 34,698 Shares of Howmet Aerospace Inc. (NYSE:HWM)

by · The Markets Daily

AustralianSuper Pty Ltd lifted its stake in shares of Howmet Aerospace Inc. (NYSE:HWM – Free Report) by 69.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 84,592 shares of the company’s stock after buying an additional 34,698 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Howmet Aerospace were worth $8,480,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Howmet Aerospace by 18.7% in the 1st quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock valued at $1,223,358,000 after buying an additional 2,813,911 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Howmet Aerospace by 28.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock worth $966,959,000 after acquiring an additional 3,158,186 shares during the period. Lone Pine Capital LLC acquired a new stake in Howmet Aerospace in the 2nd quarter worth about $284,539,000. TD Asset Management Inc boosted its holdings in Howmet Aerospace by 16.9% in the 2nd quarter. TD Asset Management Inc now owns 3,152,629 shares of the company’s stock valued at $244,739,000 after purchasing an additional 455,180 shares during the period. Finally, Capital Research Global Investors acquired a new position in shares of Howmet Aerospace during the 1st quarter worth approximately $148,996,000. Institutional investors own 90.46% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 shares were sold at an average price of $96.58, for a total value of $14,961,111.22. Following the transaction, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction on 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 sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HWM shares. Sanford C. Bernstein boosted their price target on Howmet Aerospace from $113.00 to $127.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Truist Financial upped their target price on Howmet Aerospace from $105.00 to $123.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Barclays raised their price target on Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Susquehanna assumed coverage on shares of Howmet Aerospace in a research report on Tuesday, October 8th. They set a “positive” rating and a $120.00 price objective for the company. Finally, BTIG Research raised their target price 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $101.50.

Get Our Latest Analysis on HWM

Howmet Aerospace Price Performance

Shares of HWM traded down $1.68 during trading hours on Thursday, reaching $99.46. The stock had a trading volume of 666,264 shares, compared to its average volume of 2,950,374. The stock has a market capitalization of $40.59 billion, a PE ratio of 48.91, a PEG ratio of 1.51 and a beta of 1.46. Howmet Aerospace Inc. has a 12 month low of $43.50 and a 12 month high of $106.93. 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’s 50-day moving average is $99.10 and its two-hundred day moving average is $87.37.

Howmet Aerospace (NYSE:HWM – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the firm posted $0.44 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts expect that Howmet Aerospace Inc. will post 2.59 EPS for the current year.

Howmet Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s payout ratio is 15.46%.

About Howmet Aerospace

(Free Report)

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.

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