DekaBank Deutsche Girozentrale Sells 5,467 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Posted by on Apr 21st, 2023

DekaBank Deutsche Girozentrale decreased its stake in shares of Howmet Aerospace Inc. (NYSE:HWM – Get Rating) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,965 shares of the company’s stock after selling 5,467 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Howmet Aerospace were worth $2,276,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in HWM. US Bancorp DE raised its stake in Howmet Aerospace by 9.7% during the first quarter. US Bancorp DE now owns 20,717 shares of the company’s stock valued at $745,000 after buying an additional 1,834 shares during the last quarter. HighTower Advisors LLC raised its stake in Howmet Aerospace by 299.5% during the first quarter. HighTower Advisors LLC now owns 31,892 shares of the company’s stock valued at $1,147,000 after buying an additional 23,910 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of Howmet Aerospace by 2.2% in the first quarter. Panagora Asset Management Inc. now owns 31,230 shares of the company’s stock worth $1,122,000 after purchasing an additional 663 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Howmet Aerospace by 5.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,781 shares of the company’s stock worth $1,825,000 after purchasing an additional 2,520 shares during the last quarter. Finally, APG Asset Management N.V. raised its stake in shares of Howmet Aerospace by 4.0% in the first quarter. APG Asset Management N.V. now owns 20,900 shares of the company’s stock worth $675,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 91.49% of the company’s stock.

Howmet Aerospace Stock Performance

NYSE:HWM opened at $43.20 on Friday. The stock has a 50-day simple moving average of $41.99 and a two-hundred day simple moving average of $39.13. Howmet Aerospace Inc. has a 52-week low of $29.84 and a 52-week high of $44.37. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.04 and a current ratio of 2.12. The firm has a market capitalization of $17.79 billion, a PE ratio of 38.92, a P/E/G ratio of 1.11 and a beta of 1.44.

Howmet Aerospace (NYSE:HWM – Get Rating) last released its quarterly earnings results on Tuesday, February 14th. The company reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. Howmet Aerospace had a return on equity of 17.53% and a net margin of 8.28%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. Howmet Aerospace’s revenue for the quarter was up 17.7% on a year-over-year basis. Analysts forecast that Howmet Aerospace Inc. will post 1.62 EPS for the current year.

Howmet Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 27th. Stockholders of record on Friday, February 10th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date was Thursday, February 9th. Howmet Aerospace’s dividend payout ratio (DPR) is 14.41%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Truist Financial boosted their price target on Howmet Aerospace from $35.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, February 15th. Argus boosted their price target on Howmet Aerospace from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday, February 21st. Jefferies Financial Group assumed coverage on Howmet Aerospace in a research note on Wednesday, March 22nd. They issued a “buy” rating and a $50.00 price target for the company. Wells Fargo & Company decreased their price target on Howmet Aerospace from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, March 22nd. Finally, Benchmark upgraded Howmet Aerospace from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Friday, March 31st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

Insider Transactions at Howmet Aerospace

In other news, VP Barbara Lou Shultz sold 4,627 shares of the company’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $42.16, for a total value of $195,074.32. Following the completion of the transaction, the vice president now owns 20,542 shares of the company’s stock, valued at $866,050.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Barbara Lou Shultz sold 4,627 shares of the company’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $42.16, for a total value of $195,074.32. Following the completion of the transaction, the vice president now owns 20,542 shares of the company’s stock, valued at $866,050.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Neil Edward Marchuk sold 57,000 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $43.61, for a total value of $2,485,770.00. Following the completion of the transaction, the executive vice president now directly owns 286,751 shares of the company’s stock, valued at approximately $12,505,211.11. The disclosure for this sale can be found here. Corporate insiders own 1.23% of the company’s stock.

Howmet Aerospace Profile

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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.

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Institutional Ownership by Quarter for Howmet Aerospace (NYSE:HWM)

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