Magnetar Financial LLC Cuts Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Magnetar Financial LLC decreased its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 68.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,514 shares of the company’s stock after selling 52,074 shares during the period. Magnetar Financial LLC’s holdings in Howmet Aerospace were worth $1,609,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Blair William & Co. IL grew its position in shares of Howmet Aerospace by 51.6% during the first quarter. Blair William & Co. IL now owns 25,488 shares of the company’s stock valued at $1,744,000 after purchasing an additional 8,676 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Howmet Aerospace by 70.1% in the 1st quarter. Los Angeles Capital Management LLC now owns 1,273,290 shares of the company’s stock valued at $87,131,000 after acquiring an additional 524,805 shares during the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Howmet Aerospace by 303.8% in the 4th quarter. Quadrature Capital Ltd now owns 23,629 shares of the company’s stock valued at $1,279,000 after acquiring an additional 17,777 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Howmet Aerospace by 39.0% in the 4th quarter. National Bank of Canada FI now owns 120,557 shares of the company’s stock valued at $6,477,000 after acquiring an additional 33,844 shares during the last quarter. Finally, First Trust Direct Indexing L.P. lifted its holdings in shares of Howmet Aerospace by 24.8% in the 4th quarter. First Trust Direct Indexing L.P. now owns 6,381 shares of the company’s stock valued at $345,000 after acquiring an additional 1,269 shares during the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Analyst Upgrades and Downgrades

HWM has been the subject of a number of analyst reports. Northcoast Research reaffirmed a “sell” rating and issued a $70.00 price target on shares of Howmet Aerospace in a report on Friday, June 14th. KeyCorp increased their price target on shares of Howmet Aerospace from $70.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Wells Fargo & Company increased their price target on shares of Howmet Aerospace from $72.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Robert W. Baird increased their price target on shares of Howmet Aerospace from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, Truist Financial raised their price objective on shares of Howmet Aerospace from $74.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Howmet Aerospace has a consensus rating of “Moderate Buy” and a consensus price target of $77.76.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 32,614 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $84.26, for a total transaction of $2,748,055.64. Following the sale, the executive vice president now directly owns 217,687 shares of the company’s stock, valued at $18,342,306.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.12% of the company’s stock.

Howmet Aerospace Stock Up 0.4 %

HWM stock traded up $0.34 during trading on Friday, hitting $82.68. 2,903,005 shares of the company’s stock traded hands, compared to its average volume of 2,860,540. The business has a fifty day simple moving average of $81.22 and a two-hundred day simple moving average of $70.88. The company has a quick ratio of 0.92, a current ratio of 1.97 and a debt-to-equity ratio of 0.86. 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 $33.75 billion, a P/E ratio of 39.94, a PEG ratio of 1.50 and a beta of 1.45.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.05. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates 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 for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share. Sell-side analysts anticipate that Howmet Aerospace Inc. will post 2.39 EPS for the current year.

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.