Terra Nova Asset Management LLC Acquires New Shares in Howmet Aerospace Inc. (NYSE:HWM)

Terra Nova Asset Management LLC acquired a new stake in Howmet Aerospace Inc. (NYSE:HWM) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 12,612 shares of the company’s stock, valued at approximately $1,264,000.

Other hedge funds have also recently bought and sold shares of the company. Centaurus Financial Inc. purchased a new position in Howmet Aerospace during the fourth quarter worth $122,000. American International Group Inc. increased its position in Howmet Aerospace by 1.6% during the fourth quarter. American International Group Inc. now owns 105,188 shares of the company’s stock worth $5,693,000 after buying an additional 1,672 shares in the last quarter. SageView Advisory Group LLC purchased a new position in Howmet Aerospace during the fourth quarter worth $205,000. Vanguard Group Inc. increased its position in Howmet Aerospace by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock worth $2,448,804,000 after buying an additional 1,274,974 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Howmet Aerospace by 2.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 52,108 shares of the company’s stock worth $2,820,000 after buying an additional 1,397 shares in the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Stock Up 1.0 %

Shares of HWM traded up $1.00 during midday trading on Wednesday, reaching $104.91. 368,186 shares of the company were exchanged, compared to its average volume of 2,991,436. The stock has a 50-day moving average price of $97.07 and a 200-day moving average price of $84.63. The company has a market cap of $42.82 billion, a price-to-earnings ratio of 50.20, a P/E/G ratio of 1.51 and a beta of 1.46. Howmet Aerospace Inc. has a 1-year low of $42.94 and a 1-year high of $105.43. The company has a current ratio of 1.53, a quick ratio of 0.74 and a debt-to-equity ratio of 0.68.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $1.88 billion for 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 firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Research analysts expect that Howmet Aerospace Inc. will post 2.59 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s payout ratio is 15.46%.

Wall Street Analysts Forecast Growth

HWM has been the subject of several recent research reports. Royal Bank of Canada raised their price target on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Robert W. Baird lifted their price objective on Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Barclays lifted their price objective on Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their price objective on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, BTIG Research lifted their price objective on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Howmet Aerospace currently has an average rating of “Moderate Buy” and an average price target of $96.63.

Insider Transactions at Howmet Aerospace

In other news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the sale, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the sale, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction dated 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 directly owns 92,687 shares in the company, valued at approximately $8,985,077.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.