Howmet Aerospace Inc. (NYSE:HWM) Stock Position Increased by Chase Investment Counsel Corp

Chase Investment Counsel Corp lifted its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 4.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,945 shares of the company’s stock after purchasing an additional 2,269 shares during the period. Howmet Aerospace makes up about 1.2% of Chase Investment Counsel Corp’s holdings, making the stock its 24th biggest position. Chase Investment Counsel Corp’s holdings in Howmet Aerospace were worth $4,032,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Truist Financial Corp grew its holdings in shares of Howmet Aerospace by 1.3% during the fourth quarter. Truist Financial Corp now owns 61,486 shares of the company’s stock valued at $3,328,000 after buying an additional 768 shares in the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of Howmet Aerospace during the fourth quarter valued at $378,000. National Bank of Canada FI grew its holdings in shares of Howmet Aerospace by 39.0% during the fourth quarter. National Bank of Canada FI now owns 120,557 shares of the company’s stock valued at $6,477,000 after buying an additional 33,844 shares in the last quarter. Spire Wealth Management grew its holdings in shares of Howmet Aerospace by 1,196.4% during the fourth quarter. Spire Wealth Management now owns 17,618 shares of the company’s stock valued at $982,000 after buying an additional 16,259 shares in the last quarter. Finally, Private Advisor Group LLC grew its holdings in shares of Howmet Aerospace by 27.3% during the fourth quarter. Private Advisor Group LLC now owns 14,998 shares of the company’s stock valued at $812,000 after buying an additional 3,214 shares in the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HWM. BTIG Research lifted their price target on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 5th. Barclays boosted their target price on Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Robert W. Baird boosted their target price on Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. KeyCorp boosted their target price on Howmet Aerospace from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Benchmark boosted their target price on Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Howmet Aerospace has a consensus rating of “Moderate Buy” and an average price target of $90.67.

Insider Buying and Selling at Howmet Aerospace

In other news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the completion of the transaction, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the sale, the executive vice president now owns 92,687 shares in the company, valued at $8,985,077.78. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Howmet Aerospace Stock Performance

Howmet Aerospace stock traded down $0.32 during trading hours on Thursday, hitting $94.03. The stock had a trading volume of 339,594 shares, compared to its average volume of 3,116,974. The company has a 50-day moving average of $87.60 and a two-hundred day moving average of $78.03. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. The company has a market cap of $38.38 billion, a PE ratio of 45.58, a price-to-earnings-growth ratio of 1.44 and a beta of 1.46. Howmet Aerospace Inc. has a fifty-two week low of $42.94 and a fifty-two week high of $98.15.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.60 by $0.07. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, equities research analysts anticipate that Howmet Aerospace Inc. will post 2.59 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.08 dividend. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, August 9th. This represents a $0.32 annualized dividend and a yield of 0.34%. Howmet Aerospace’s dividend payout ratio is 15.46%.

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.