Range Financial Group LLC Makes New $321,000 Investment in Howmet Aerospace Inc. (NYSE:HWM)

Range Financial Group LLC bought a new position in Howmet Aerospace Inc. (NYSE:HWM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,136 shares of the company’s stock, valued at approximately $321,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in HWM. Norges Bank bought a new position in shares of Howmet Aerospace during the 4th quarter worth $508,006,000. Price T Rowe Associates Inc. MD grew its position in shares of Howmet Aerospace by 28.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock worth $966,959,000 after buying an additional 3,158,186 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Howmet Aerospace by 18.7% during the 1st quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock worth $1,223,358,000 after buying an additional 2,813,911 shares in the last quarter. TD Asset Management Inc grew its position in shares of Howmet Aerospace by 986.0% during the 1st quarter. TD Asset Management Inc now owns 2,697,449 shares of the company’s stock worth $184,586,000 after buying an additional 2,449,057 shares in the last quarter. Finally, Capital Research Global Investors bought a new position in shares of Howmet Aerospace during the 1st quarter worth $148,996,000. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Price Performance

Shares of NYSE HWM opened at $94.22 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53. The company has a market cap of $38.46 billion, a PE ratio of 45.52, a P/E/G ratio of 1.44 and a beta of 1.46. The business has a 50-day simple moving average of $87.89 and a two-hundred day simple moving average of $78.14. Howmet Aerospace Inc. has a fifty-two week low of $42.94 and a fifty-two week high of $98.15.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company earned $0.44 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities analysts expect that Howmet Aerospace Inc. will post 2.59 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, August 9th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 15.46%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Truist Financial increased their price target on Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Northcoast Research reaffirmed a “sell” rating and set a $70.00 price objective on shares of Howmet Aerospace in a research report on Friday, June 14th. Royal Bank of Canada raised their price objective on Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Benchmark raised their price objective on Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.67.

Insider Transactions at Howmet Aerospace

In other news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the completion of the transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the completion of the transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the transaction, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

Howmet Aerospace Company Profile

Howmet Aerospace Inc provides advanced engineered solutions for the aerospace and transportation industries in the United States, Japan, France, Germany, the United Kingdom, Mexico, Italy, Canada, Poland, China, and internationally. It operates through four segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels.