Peregrine Asset Advisers Inc. Buys New Position in Howmet Aerospace Inc. (NYSE:HWM)

Peregrine Asset Advisers Inc. acquired a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 54,185 shares of the company’s stock, valued at approximately $4,206,000. Howmet Aerospace makes up 1.7% of Peregrine Asset Advisers Inc.’s portfolio, making the stock its 16th largest position.

A number of other hedge funds have also recently bought and sold shares of HWM. Cigna Investments Inc. New grew its position in Howmet Aerospace by 3.8% in the 2nd quarter. Cigna Investments Inc. New now owns 4,178 shares of the company’s stock worth $324,000 after purchasing an additional 153 shares in the last quarter. Bleakley Financial Group LLC increased its position in shares of Howmet Aerospace by 3.2% during the first quarter. Bleakley Financial Group LLC now owns 5,080 shares of the company’s stock valued at $348,000 after acquiring an additional 158 shares during the last quarter. HB Wealth Management LLC lifted its holdings in Howmet Aerospace by 4.9% during the second quarter. HB Wealth Management LLC now owns 3,664 shares of the company’s stock worth $284,000 after acquiring an additional 171 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in Howmet Aerospace by 13.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,820 shares of the company’s stock valued at $141,000 after purchasing an additional 217 shares during the period. Finally, Whittier Trust Co. increased its position in shares of Howmet Aerospace by 81.4% during the 1st quarter. Whittier Trust Co. now owns 508 shares of the company’s stock valued at $35,000 after purchasing an additional 228 shares during the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the transaction, the executive vice president now directly owns 92,687 shares in the company, valued at $8,985,077.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction on Thursday, August 22nd. The shares were 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 of the company’s stock, valued at approximately $14,982,938.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace 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 in the company, valued at approximately $8,985,077.78. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by company insiders.

Howmet Aerospace Stock Performance

Shares of HWM opened at $95.14 on Tuesday. 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 stock has a market capitalization of $38.83 billion, a price-to-earnings ratio of 45.96, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46. Howmet Aerospace Inc. has a 52-week low of $42.94 and a 52-week high of $98.15. The stock’s 50-day simple moving average is $90.02 and its 200 day simple moving average is $79.74.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.83 billion. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. Howmet Aerospace’s revenue was up 14.1% compared to the same quarter last year. During the same period last year, the business earned $0.44 earnings per share. Research analysts forecast that Howmet Aerospace Inc. will post 2.59 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, August 9th. 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. Howmet Aerospace’s dividend payout ratio is presently 15.46%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HWM. KeyCorp boosted their price target on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Northcoast Research reissued a “sell” rating and set a $70.00 target price on shares of Howmet Aerospace in a research report on Friday, June 14th. 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 report on Friday, July 12th. Robert W. Baird increased their price objective on Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Barclays boosted their target price on Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.67.

Howmet Aerospace 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.