Plato Investment Management Ltd Purchases New Position in Howmet Aerospace Inc. (NYSE:HWM)

Plato Investment Management Ltd purchased a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 15,199 shares of the company’s stock, valued at approximately $1,040,000.

Several other institutional investors also recently bought and sold shares of HWM. Blair William & Co. IL grew its holdings in Howmet Aerospace by 51.6% in 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 during the period. Los Angeles Capital Management LLC grew its holdings in Howmet Aerospace by 70.1% in the first quarter. Los Angeles Capital Management LLC now owns 1,273,290 shares of the company’s stock valued at $87,131,000 after purchasing an additional 524,805 shares during the period. Quadrature Capital Ltd grew its holdings in Howmet Aerospace by 303.8% in the fourth quarter. Quadrature Capital Ltd now owns 23,629 shares of the company’s stock valued at $1,279,000 after purchasing an additional 17,777 shares during the period. National Bank of Canada FI grew its holdings in Howmet Aerospace by 39.0% in the fourth quarter. National Bank of Canada FI now owns 120,557 shares of the company’s stock valued at $6,477,000 after purchasing an additional 33,844 shares during the period. Finally, First Trust Direct Indexing L.P. grew its holdings in Howmet Aerospace by 24.8% in the fourth quarter. First Trust Direct Indexing L.P. now owns 6,381 shares of the company’s stock valued at $345,000 after purchasing an additional 1,269 shares during the period. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

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 stock was sold at an average price of $84.26, for a total value of $2,748,055.64. Following the sale, the executive vice president now owns 217,687 shares in the company, valued at approximately $18,342,306.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.12% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Barclays raised their price objective on Howmet Aerospace from $65.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, May 6th. KeyCorp lifted their price target on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday. Wells Fargo & Company lifted their price target on Howmet Aerospace from $72.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Argus lifted their price target on Howmet Aerospace from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. lifted their price target on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.88.

Howmet Aerospace Trading Down 0.9 %

Howmet Aerospace stock traded down $0.83 during trading on Thursday, reaching $94.87. 2,984,073 shares of the company were exchanged, compared to its average volume of 3,241,562. Howmet Aerospace Inc. has a 52-week low of $42.94 and a 52-week high of $97.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.92. The company has a market capitalization of $38.72 billion, a P/E ratio of 45.60, a PEG ratio of 1.60 and a beta of 1.45. The stock’s 50 day simple moving average is $81.62 and its two-hundred day simple moving average is $71.62.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the business earned $0.44 earnings per share. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities research analysts expect that Howmet Aerospace Inc. will post 2.55 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, August 9th. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s payout ratio is currently 9.66%.

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.