Price T Rowe Associates Inc. MD Sells 25,380 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Posted by Defense World Staff on Mar 13th, 2023

Price T Rowe Associates Inc. MD decreased its stake in shares of Howmet Aerospace Inc. (NYSE:HWM – Get Rating) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,439,209 shares of the company’s stock after selling 25,380 shares during the period. Price T Rowe Associates Inc. MD owned 0.83% of Howmet Aerospace worth $106,375,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of HWM. Baron Silver Stevens Financial Advisors LLC bought a new stake in Howmet Aerospace in the 3rd quarter valued at about $830,000. CNB Bank increased its position in Howmet Aerospace by 1,412.0% during the 2nd quarter. CNB Bank now owns 1,134 shares of the company’s stock worth $36,000 after purchasing an additional 1,059 shares in the last quarter. Clear Street Markets LLC increased its position in Howmet Aerospace by 52.6% in the 3rd quarter. Clear Street Markets LLC now owns 1,196 shares of the company’s stock valued at $37,000 after acquiring an additional 412 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in Howmet Aerospace by 71.5% in the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,199 shares of the company’s stock valued at $37,000 after acquiring an additional 500 shares during the period. Finally, Wipfli Financial Advisors LLC acquired a new position in Howmet Aerospace in the 3rd quarter valued at approximately $44,000. Institutional investors own 91.49% of the company’s stock.

Howmet Aerospace Trading Down 2.9 %

Shares of Howmet Aerospace stock opened at $40.84 on Monday. Howmet Aerospace Inc. has a 1 year low of $29.84 and a 1 year high of $44.37. The firm has a market cap of $16.84 billion, a PE ratio of 36.79, a PEG ratio of 1.05 and a beta of 1.46. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.12 and a quick ratio of 1.04. The company has a 50 day simple moving average of $41.10 and a two-hundred day simple moving average of $37.72.

Howmet Aerospace (NYSE:HWM – Get Rating) last announced its quarterly earnings data on Tuesday, February 14th. The company reported $0.38 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.38. Howmet Aerospace had a net margin of 8.28% and a return on equity of 17.53%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the business posted $0.30 EPS. The business’s quarterly revenue was up 17.7% on a year-over-year basis. Analysts expect that Howmet Aerospace Inc. will post 1.63 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 27th. Stockholders of record on Friday, February 10th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Thursday, February 9th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 14.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. KeyCorp increased their price objective on shares of Howmet Aerospace from $41.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, February 16th. Morgan Stanley increased their target price on shares of Howmet Aerospace from $47.00 to $49.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 15th. Wells Fargo & Company increased their target price on shares of Howmet Aerospace from $43.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 15th. Truist Financial increased their target price on shares of Howmet Aerospace from $35.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, February 15th. Finally, Benchmark lowered shares of Howmet Aerospace from a “buy” rating to a “hold” rating in a research note on Wednesday, February 15th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.78.

Insider Buying and Selling

In related news, VP Barbara Lou Shultz sold 4,627 shares of the company’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $42.16, for a total value of $195,074.32. Following the transaction, the vice president now owns 20,542 shares in the company, valued at approximately $866,050.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Barbara Lou Shultz sold 4,627 shares of the company’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $42.16, for a total transaction of $195,074.32. Following the completion of the sale, the vice president now owns 20,542 shares of the company’s stock, valued at approximately $866,050.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Neil Edward Marchuk sold 57,000 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $43.61, for a total transaction of $2,485,770.00. Following the completion of the sale, the executive vice president now directly owns 286,751 shares of the company’s stock, valued at $12,505,211.11. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by company insiders.

About Howmet Aerospace

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Howmet Aerospace, Inc engages in provision of engineered solutions for the aerospace and transportation industries. It operates through the following segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels. The Engine Products segment produces investment castings, including airfoils, and seamless rolled rings primarily for aircraft engines (aerospace commercial and defense) and industrial gas turbines.