Price T Rowe Associates Inc. MD Buys 3,158,186 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Price T Rowe Associates Inc. MD boosted its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 28.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,130,606 shares of the company’s stock after buying an additional 3,158,186 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 3.46% of Howmet Aerospace worth $966,959,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HWM. Norges Bank bought a new stake in Howmet Aerospace during the 4th quarter valued at about $508,006,000. JPMorgan Chase & Co. lifted its holdings in Howmet Aerospace by 18.7% during 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. TD Asset Management Inc lifted its holdings in Howmet Aerospace by 986.0% during the 1st quarter. TD Asset Management Inc now owns 2,697,449 shares of the company’s stock valued at $184,586,000 after buying an additional 2,449,057 shares in the last quarter. Capital Research Global Investors bought a new stake in shares of Howmet Aerospace in the 1st quarter valued at about $148,996,000. Finally, Vanguard Group Inc. raised its holdings in shares of Howmet Aerospace by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock valued at $2,448,804,000 after purchasing an additional 1,274,974 shares in the last quarter. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Performance

NYSE:HWM traded up $0.34 during trading hours on Friday, hitting $82.68. 2,903,005 shares of the company were exchanged, compared to its average volume of 2,860,540. The company’s 50 day moving average price is $81.22 and its 200-day moving average price is $70.88. The stock has a market capitalization of $33.75 billion, a price-to-earnings ratio of 39.94, a PEG ratio of 1.50 and a beta of 1.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.97 and a quick ratio of 0.92. Howmet Aerospace Inc. has a 52-week low of $42.94 and a 52-week high of $85.52.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.52 by $0.05. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.42 EPS. As a group, research analysts forecast that Howmet Aerospace Inc. will post 2.39 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Truist Financial boosted their price target on shares of Howmet Aerospace from $74.00 to $88.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Argus boosted their price target on shares of Howmet Aerospace from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, May 6th. Northcoast Research restated a “sell” rating and issued a $70.00 price target on shares of Howmet Aerospace in a report on Friday, June 14th. Barclays boosted their price target on shares of Howmet Aerospace from $65.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Finally, Benchmark lifted their price objective on shares of Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Howmet Aerospace presently has an average rating of “Moderate Buy” and a consensus price target of $77.76.

Insider Activity at Howmet Aerospace

In related 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 value of $2,748,055.64. Following the completion of the transaction, the executive vice president now directly owns 217,687 shares in the company, valued at approximately $18,342,306.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.12% of the company’s stock.

About Howmet Aerospace

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.