Howmet Aerospace Inc. (NYSE:HWM) Shares Sold by South Street Advisors LLC

South Street Advisors LLC cut its stake in Howmet Aerospace Inc. (NYSE:HWM) by 20.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 183,915 shares of the company’s stock after selling 47,578 shares during the period. Howmet Aerospace makes up 2.2% of South Street Advisors LLC’s investment portfolio, making the stock its 18th largest position. South Street Advisors LLC’s holdings in Howmet Aerospace were worth $14,277,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of HWM. Blair William & Co. IL lifted its position in Howmet Aerospace by 51.6% during the first quarter. Blair William & Co. IL now owns 25,488 shares of the company’s stock valued at $1,744,000 after buying an additional 8,676 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Howmet Aerospace by 70.1% during the first quarter. Los Angeles Capital Management LLC now owns 1,273,290 shares of the company’s stock valued at $87,131,000 after buying an additional 524,805 shares in the last quarter. Quadrature Capital Ltd lifted its position in shares of Howmet Aerospace by 303.8% during the fourth quarter. Quadrature Capital Ltd now owns 23,629 shares of the company’s stock worth $1,279,000 after purchasing an additional 17,777 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Howmet Aerospace by 67.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 80,414 shares of the company’s stock worth $5,431,000 after purchasing an additional 32,431 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of Howmet Aerospace by 182.1% during the first quarter. Cetera Investment Advisers now owns 42,893 shares of the company’s stock worth $2,935,000 after purchasing an additional 27,686 shares in the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HWM shares. BTIG Research boosted their target price on shares of Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Barclays boosted their target price on shares of Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Benchmark lifted their price target on shares of Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, KeyCorp lifted their price target on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Howmet Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $90.67.

Insiders Place Their Bets

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the sale, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Ken Giacobbe sold 154,909 shares of the company’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 transaction, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were 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 in the company, valued at approximately $8,985,077.78. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.

Howmet Aerospace Stock Performance

Shares of HWM opened at $93.15 on Wednesday. The company has a market cap of $38.02 billion, a price-to-earnings ratio of 45.00, a price-to-earnings-growth ratio of 1.37 and a beta of 1.46. The firm has a fifty day moving average of $88.80 and a 200-day moving average of $78.94. Howmet Aerospace Inc. has a 1 year low of $42.94 and a 1 year high of $98.15. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data 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 net margin of 13.15% and a return on equity of 23.02%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts anticipate that Howmet Aerospace Inc. will post 2.59 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.34%. This is an increase 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 is presently 15.46%.

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.