Empirical Finance LLC Increases Position in Howmet Aerospace Inc. (NYSE:HWM)

Empirical Finance LLC lifted its position in Howmet Aerospace Inc. (NYSE:HWM) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,606 shares of the company’s stock after purchasing an additional 478 shares during the period. Empirical Finance LLC’s holdings in Howmet Aerospace were worth $931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Howmet Aerospace by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock valued at $2,448,804,000 after acquiring an additional 1,274,974 shares in the last quarter. Norges Bank purchased a new position in Howmet Aerospace during the fourth quarter valued at $508,006,000. Bank of New York Mellon Corp grew its stake in shares of Howmet Aerospace by 15.1% in the 1st quarter. Bank of New York Mellon Corp now owns 6,184,692 shares of the company’s stock worth $423,218,000 after buying an additional 810,681 shares in the last quarter. Capital World Investors grew its stake in shares of Howmet Aerospace by 41.3% in the 4th quarter. Capital World Investors now owns 3,507,255 shares of the company’s stock worth $189,813,000 after buying an additional 1,025,102 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Howmet Aerospace by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,137,935 shares of the company’s stock worth $115,705,000 after buying an additional 22,224 shares in the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 32,614 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $84.26, for a total value of $2,748,055.64. Following the transaction, the executive vice president now directly owns 217,687 shares of the company’s stock, valued at $18,342,306.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.12% of the company’s stock.

Analysts Set New Price Targets

HWM has been the subject of several analyst reports. The Goldman Sachs Group raised their target price on shares of Howmet Aerospace from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Robert W. Baird raised their target price on shares of Howmet Aerospace from $74.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Truist Financial raised their target price on shares of Howmet Aerospace from $74.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Northcoast Research restated a “sell” rating and issued a $70.00 target price on shares of Howmet Aerospace in a report on Friday, June 14th. Finally, BTIG Research initiated coverage on shares of Howmet Aerospace in a report on Wednesday, June 26th. They set a “buy” rating and a $95.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Howmet Aerospace presently has a consensus rating of “Moderate Buy” and an average price target of $77.76.

Howmet Aerospace Stock Performance

NYSE HWM traded down $0.43 on Friday, hitting $79.23. 2,125,654 shares of the company’s stock traded hands, compared to its average volume of 3,192,709. The company has a current ratio of 1.97, a quick ratio of 0.92 and a debt-to-equity ratio of 0.86. The firm’s 50-day moving average price is $81.44 and its two-hundred day moving average price is $68.75. Howmet Aerospace Inc. has a 1-year low of $42.94 and a 1-year high of $85.52. The firm has a market capitalization of $32.34 billion, a PE ratio of 38.48, a P/E/G ratio of 1.45 and a beta of 1.45.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. As a group, analysts expect that Howmet Aerospace Inc. will post 2.39 EPS for the current year.

Howmet Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Thursday, May 9th. Howmet Aerospace’s dividend payout ratio is presently 9.66%.

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.