Howmet Aerospace Inc. (NYSE:HWM) Shares Sold by Pinnacle Associates Ltd.

Posted by Defense World Staff on Apr 21st, 2023

Pinnacle Associates Ltd. reduced its stake in Howmet Aerospace Inc. (NYSE:HWM – Get Rating) by 19.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,937 shares of the company’s stock after selling 1,416 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Howmet Aerospace were worth $234,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in HWM. Massmutual Trust Co. FSB ADV increased its stake in Howmet Aerospace by 189.2% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 642 shares of the company’s stock worth $25,000 after buying an additional 420 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Howmet Aerospace by 71.5% during the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,199 shares of the company’s stock worth $37,000 after buying an additional 500 shares during the period. Clear Street Markets LLC increased its stake in Howmet Aerospace by 52.6% during the 3rd quarter. Clear Street Markets LLC now owns 1,196 shares of the company’s stock worth $37,000 after buying an additional 412 shares during the period. Allworth Financial LP increased its stake in Howmet Aerospace by 92.5% during the 4th quarter. Allworth Financial LP now owns 1,082 shares of the company’s stock worth $41,000 after buying an additional 520 shares during the period. Finally, Wipfli Financial Advisors LLC purchased a new stake in Howmet Aerospace during the 3rd quarter worth approximately $44,000. 91.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HWM has been the topic of several recent research reports. Morgan Stanley upped 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. KeyCorp increased their price objective on shares of Howmet Aerospace from $41.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, February 16th. Argus increased their price objective on shares of Howmet Aerospace from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, February 21st. Benchmark raised shares of Howmet Aerospace from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Friday, March 31st. Finally, Jefferies Financial Group began coverage on shares of Howmet Aerospace in a research report on Wednesday, March 22nd. They issued a “buy” rating and a $50.00 price objective on the stock. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $46.00.

Howmet Aerospace Trading Down 0.2 %

NYSE HWM opened at $43.20 on Friday. 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 firm’s fifty day moving average price is $41.99 and its 200 day moving average price is $39.13. The company has a market capitalization of $17.79 billion, a price-to-earnings ratio of 38.92, a price-to-earnings-growth ratio of 1.11 and a beta of 1.44. Howmet Aerospace Inc. has a 12 month low of $29.84 and a 12 month high of $44.37.

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

Howmet Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 27th. Investors of record on Friday, February 10th were given 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 of this dividend was Thursday, February 9th. Howmet Aerospace’s dividend payout ratio (DPR) is 14.41%.

Insider Buying and Selling

In related news, VP Barbara Lou Shultz sold 4,627 shares of the stock in a transaction on 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 in the company, valued at approximately $866,050.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Neil Edward Marchuk sold 57,000 shares of the stock in a transaction on Monday, March 6th. The shares were 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 owns 286,751 shares in the company, valued at approximately $12,505,211.11. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Barbara Lou Shultz sold 4,627 shares of the stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $42.16, for a total transaction of $195,074.32. Following the sale, the vice president now owns 20,542 shares of the company’s stock, valued at approximately $866,050.72. The disclosure for this sale can be found here. 1.23% of the stock is owned by company insiders.

Howmet Aerospace Company 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.