First Horizon Advisors Inc. Buys 556 Shares of Howmet Aerospace Inc. (NYSE:HWM)

First Horizon Advisors Inc. lifted its stake in Howmet Aerospace Inc. (NYSE:HWM) by 23.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,922 shares of the company’s stock after purchasing an additional 556 shares during the period. First Horizon Advisors Inc.’s holdings in Howmet Aerospace were worth $227,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HWM. Vanguard Group Inc. lifted its position in shares of 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 buying an additional 1,274,974 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Howmet Aerospace by 18.7% during the first 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 during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 valued at $966,959,000 after buying an additional 3,158,186 shares during the last quarter. Norges Bank purchased a new stake in shares of Howmet Aerospace during the fourth quarter valued at about $508,006,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Howmet Aerospace by 15.1% during the first quarter. Bank of New York Mellon Corp now owns 6,184,692 shares of the company’s stock valued at $423,218,000 after buying an additional 810,681 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HWM has been the subject of several research analyst reports. Robert W. Baird increased their price objective on shares of Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Royal Bank of Canada increased their price objective on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. BTIG Research increased their price objective on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. increased their price target on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, KeyCorp increased their price target on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $90.67.

Howmet Aerospace Price Performance

HWM stock traded down $0.81 during midday trading on Tuesday, reaching $95.56. The stock had a trading volume of 268,369 shares, compared to its average volume of 3,197,325. The company’s fifty day simple moving average is $83.82 and its 200 day simple moving average is $75.11. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The company has a market cap of $39.01 billion, a price-to-earnings ratio of 46.57, a price-to-earnings-growth ratio of 1.58 and a beta of 1.45. Howmet Aerospace Inc. has a 52-week low of $42.94 and a 52-week high of $97.29.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm earned $0.44 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts predict that Howmet Aerospace Inc. will post 2.6 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Friday, August 9th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s payout ratio is currently 15.46%.

Insider Buying and Selling

In related news, EVP Neil Edward Marchuk sold 32,614 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $84.26, for a total transaction of $2,748,055.64. Following the completion of the sale, the executive vice president now directly owns 217,687 shares of the company’s stock, valued at approximately $18,342,306.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.12% of the company’s stock.

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.