Picton Mahoney Asset Management Grows Stake in Howmet Aerospace Inc. (NYSE:HWM)

Picton Mahoney Asset Management raised its stake in Howmet Aerospace Inc. (NYSE:HWM) by 41.4% during the second quarter, HoldingsChannel reports. The fund owned 204,583 shares of the company’s stock after buying an additional 59,859 shares during the period. Picton Mahoney Asset Management’s holdings in Howmet Aerospace were worth $15,882,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Cultivar Capital Inc. purchased a new stake in shares of Howmet Aerospace in the second quarter worth $26,000. Rothschild Investment LLC purchased a new stake in shares of Howmet Aerospace in the second quarter worth $32,000. Versant Capital Management Inc lifted its holdings in shares of Howmet Aerospace by 1,209.1% during the second quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock valued at $34,000 after purchasing an additional 399 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Howmet Aerospace by 81.4% during the first quarter. Whittier Trust Co. now owns 508 shares of the company’s stock valued at $35,000 after purchasing an additional 228 shares in the last quarter. Finally, AlphaCentric Advisors LLC bought a new position in shares of Howmet Aerospace during the second quarter valued at $36,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Northcoast Research reaffirmed a “sell” rating and set a $70.00 price target on shares of Howmet Aerospace in a report on Friday, June 14th. Truist Financial upped their price target on Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Argus increased their target price on Howmet Aerospace from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, BTIG Research increased their target price on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.67.

Howmet Aerospace Stock Performance

Shares of NYSE HWM traded down $0.30 during trading on Friday, hitting $96.66. The company had a trading volume of 3,188,796 shares, compared to its average volume of 3,138,775. The stock has a 50 day simple moving average of $86.64 and a 200 day simple moving average of $77.26. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 1.53. Howmet Aerospace Inc. has a 12 month low of $42.94 and a 12 month high of $98.15. The firm has a market capitalization of $39.45 billion, a P/E ratio of 46.70, a price-to-earnings-growth ratio of 1.58 and a beta of 1.45.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data 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 firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, analysts anticipate that Howmet Aerospace Inc. will post 2.6 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 9th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.33%. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s dividend payout ratio (DPR) is currently 15.46%.

Insider Buying and Selling

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the sale, the executive vice president now owns 92,687 shares in the company, valued at $8,985,077.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the transaction, the executive vice president now owns 92,687 shares in the company, valued at approximately $8,985,077.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total value of $14,961,111.22. Following the transaction, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 258,160 shares of company stock worth $24,556,718. 1.12% of the stock is owned by corporate insiders.

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.