Highland Capital Management LLC Makes New $1.17 Million Investment in Howmet Aerospace Inc. (NYSE:HWM)

Highland Capital Management LLC bought a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,645 shares of the company’s stock, valued at approximately $1,167,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lone Pine Capital LLC purchased a new stake in Howmet Aerospace in the second quarter worth about $284,539,000. Price T Rowe Associates Inc. MD boosted its position in shares of Howmet Aerospace by 28.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock worth $966,959,000 after purchasing an additional 3,158,186 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Howmet Aerospace by 18.7% in the 1st quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock worth $1,223,358,000 after buying an additional 2,813,911 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Howmet Aerospace by 986.0% in the 1st quarter. TD Asset Management Inc now owns 2,697,449 shares of the company’s stock worth $184,586,000 after buying an additional 2,449,057 shares during the last quarter. Finally, Capital Research Global Investors purchased a new position in Howmet Aerospace during the first quarter valued at $148,996,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Stock Performance

HWM opened at $101.39 on Friday. The company’s 50 day moving average is $98.79 and its 200 day moving average is $86.61. The company has a current ratio of 1.53, a quick ratio of 0.74 and a debt-to-equity ratio of 0.68. The company has a market cap of $41.39 billion, a price-to-earnings ratio of 48.98, a PEG ratio of 1.51 and a beta of 1.46. Howmet Aerospace Inc. has a 12-month low of $42.94 and a 12-month high of $106.93.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS. On average, equities research analysts predict that Howmet Aerospace Inc. will post 2.59 EPS for the current year.

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be given a $0.08 dividend. 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%.

Insider Transactions at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 92,687 shares in the company, valued at approximately $8,985,077.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at $14,982,938.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now directly 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on HWM. Royal Bank of Canada increased their target price on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein raised their price objective on shares of Howmet Aerospace from $113.00 to $127.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Truist Financial boosted their price objective on shares of Howmet Aerospace from $105.00 to $123.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, KeyCorp downgraded Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Howmet Aerospace has an average rating of “Moderate Buy” and a consensus target price of $101.50.

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.