Empowered Funds LLC Has $6.70 Million Position in Howmet Aerospace Inc. (NYSE:HWM)

Empowered Funds LLC trimmed its position in Howmet Aerospace Inc. (NYSE:HWM) by 7.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,789 shares of the company’s stock after selling 5,300 shares during the period. Empowered Funds LLC’s holdings in Howmet Aerospace were worth $6,696,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of HWM. Lone Pine Capital LLC acquired a new stake in Howmet Aerospace in the second quarter worth $284,539,000. Price T Rowe Associates Inc. MD lifted its holdings 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 in the last quarter. Capital Research Global Investors acquired a new position in Howmet Aerospace in the first quarter valued at about $148,996,000. D. E. Shaw & Co. Inc. increased its holdings in shares of Howmet Aerospace by 1,168.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,161,604 shares of the company’s stock worth $90,175,000 after acquiring an additional 1,070,049 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Howmet Aerospace by 341.7% during the second quarter. Renaissance Technologies LLC now owns 709,400 shares of the company’s stock worth $55,071,000 after purchasing an additional 548,800 shares during the period. Institutional investors own 90.46% of the company’s stock.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace 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 transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The trade was a 43.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ken Giacobbe sold 154,909 shares of the 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 in the company, valued at $14,982,938.30. The trade was a 49.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

Wall Street Analysts Forecast Growth

HWM has been the subject of a number of research reports. Sanford C. Bernstein increased their target price on Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Royal Bank of Canada raised their price objective on shares of Howmet Aerospace from $105.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Wells Fargo & Company upped their target price on shares of Howmet Aerospace from $113.00 to $129.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price target on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Truist Financial increased their price objective on Howmet Aerospace from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $115.41.

Howmet Aerospace Stock Performance

Shares of HWM opened at $112.01 on Friday. The company has a market cap of $45.51 billion, a PE ratio of 42.75, a price-to-earnings-growth ratio of 1.57 and a beta of 1.46. The firm has a 50-day moving average of $102.37 and a 200-day moving average of $91.12. Howmet Aerospace Inc. has a one year low of $51.22 and a one year high of $116.74. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.24 and a quick ratio of 0.98.

Howmet Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors 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 0.29%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s payout ratio is currently 12.21%.

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.