Arizona State Retirement System Raises Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Posted by on May 8th, 2023

Arizona State Retirement System grew its position in shares of Howmet Aerospace Inc. (NYSE:HWM – Get Rating) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,825 shares of the company’s stock after purchasing an additional 2,554 shares during the period. Arizona State Retirement System’s holdings in Howmet Aerospace were worth $4,171,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its holdings 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 valued at $25,000 after acquiring an additional 420 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new position in shares of Howmet Aerospace in the 4th quarter valued at about $25,000. Clear Street Markets LLC lifted its holdings in shares of 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 last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in shares of 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 last quarter. Finally, Allworth Financial LP lifted its holdings 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 acquiring an additional 520 shares during the last quarter. Hedge funds and other institutional investors own 91.49% of the company’s stock.

Wall Street Analyst Weigh In

HWM has been the subject of several analyst reports. Benchmark raised shares of Howmet Aerospace from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Friday, March 31st. Morgan Stanley raised their price objective 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 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. Wells Fargo & Company decreased their price objective 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. Finally, Truist Financial raised their price objective on shares of Howmet Aerospace from $39.00 to $42.00 in a research note on Wednesday, May 3rd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $46.30.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 57,000 shares of Howmet Aerospace stock in a transaction on Monday, March 6th. The shares were sold at an average price of $43.61, for a total value of $2,485,770.00. Following the transaction, the executive vice president now directly owns 286,751 shares of the company’s stock, valued at $12,505,211.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Barbara Lou Shultz sold 4,627 shares of the business’s 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 sale, the vice president now directly owns 20,542 shares of the company’s stock, valued at $866,050.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Neil Edward Marchuk sold 57,000 shares of the business’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 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. Corporate insiders own 1.23% of the company’s stock.

Howmet Aerospace Stock Performance

Shares of HWM stock opened at $44.00 on Monday. The firm has a market cap of $18.18 billion, a price-to-earnings ratio of 38.26, a PEG ratio of 1.07 and a beta of 1.43. The company’s 50 day moving average is $42.30 and its 200 day moving average is $40.05. The company has a quick ratio of 1.04, a current ratio of 2.18 and a debt-to-equity ratio of 1.08. Howmet Aerospace Inc. has a 52-week low of $29.84 and a 52-week high of $45.70.

Howmet Aerospace (NYSE:HWM – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.49 billion. Howmet Aerospace had a net margin of 8.18% and a return on equity of 18.39%. Howmet Aerospace’s revenue was up 21.1% compared to the same quarter last year. During the same period last year, the company posted $0.31 earnings per share. On average, sell-side analysts anticipate that Howmet Aerospace Inc. will post 1.69 EPS for the current fiscal year.

Howmet Aerospace Announces Dividend

The company 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. This represents a $0.16 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Thursday, May 4th. Howmet Aerospace’s dividend payout ratio is currently 13.91%.

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.

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

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