Robeco Institutional Asset Management B.V. Sells 109,177 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Posted by Defense World Staff on May 5th, 2023

Robeco Institutional Asset Management B.V. reduced its position in shares of Howmet Aerospace Inc. (NYSE:HWM – Get Rating) by 60.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 71,278 shares of the company’s stock after selling 109,177 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Howmet Aerospace were worth $2,809,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV grew its stake in shares of Howmet Aerospace by 189.2% in 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 in the last quarter. Mizuho Securities Co. Ltd. bought a new stake in Howmet Aerospace during the fourth quarter worth approximately $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Howmet Aerospace by 71.5% during the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,199 shares of the company’s stock worth $37,000 after acquiring an additional 500 shares during the last quarter. Clear Street Markets LLC raised its position in Howmet Aerospace by 52.6% during the third quarter. Clear Street Markets LLC now owns 1,196 shares of the company’s stock valued at $37,000 after purchasing an additional 412 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of Howmet Aerospace by 92.5% in the 4th quarter. Allworth Financial LP now owns 1,082 shares of the company’s stock valued at $41,000 after purchasing an additional 520 shares during the last quarter. 91.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HWM shares. Argus boosted their target price on Howmet Aerospace from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, February 21st. Truist Financial increased their target price on shares of Howmet Aerospace from $39.00 to $42.00 in a research note on Wednesday. Wells Fargo & Company dropped their price target on shares of Howmet Aerospace from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Wednesday, March 22nd. Jefferies Financial Group assumed 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. Finally, KeyCorp raised their price objective on shares of Howmet Aerospace from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, February 16th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Howmet Aerospace currently has an average rating of “Moderate Buy” and a consensus target price of $46.30.

Howmet Aerospace Trading Down 3.1 %

NYSE:HWM opened at $43.27 on Friday. 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 50-day simple moving average of $42.26 and a 200-day simple moving average of $39.88. Howmet Aerospace Inc. has a one year low of $29.84 and a one year high of $45.70. The firm has a market cap of $17.82 billion, a P/E ratio of 38.98, a P/E/G ratio of 1.13 and a beta of 1.44.

Howmet Aerospace (NYSE:HWM – Get Rating) last posted its earnings results on Tuesday, May 2nd. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Howmet Aerospace had a net margin of 8.28% and a return on equity of 17.53%. Howmet Aerospace’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 earnings per share. Equities analysts anticipate that Howmet Aerospace Inc. will post 1.62 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders of record on Friday, May 5th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.37%. Howmet Aerospace’s dividend payout ratio is currently 14.41%.

Insider Buying and Selling

In other Howmet Aerospace news, VP Barbara Lou Shultz sold 4,627 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $866,050.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Howmet Aerospace news, VP Barbara Lou Shultz sold 4,627 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now directly 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 accessible through this link. Also, EVP Neil Edward Marchuk sold 57,000 shares of the company’s 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 directly owns 286,751 shares in the company, valued at $12,505,211.11. The disclosure for this sale can be found here. 1.23% of the stock is currently 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.