Investment Management Corp of Ontario Raises Position in Howmet Aerospace Inc. (NYSE:HWM)

Investment Management Corp of Ontario lifted its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 2,948.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 265,592 shares of the company’s stock after buying an additional 256,879 shares during the period. Howmet Aerospace accounts for approximately 0.6% of Investment Management Corp of Ontario’s holdings, making the stock its 29th largest holding. Investment Management Corp of Ontario’s holdings in Howmet Aerospace were worth $26,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Lone Pine Capital LLC purchased a new stake in shares of Howmet Aerospace during the 2nd quarter worth $284,539,000. D. E. Shaw & Co. Inc. lifted its position in shares of Howmet Aerospace by 1,168.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,161,604 shares of the company’s stock worth $90,175,000 after purchasing an additional 1,070,049 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Howmet Aerospace by 341.7% in the 2nd quarter. Renaissance Technologies LLC now owns 709,400 shares of the company’s stock worth $55,071,000 after purchasing an additional 548,800 shares during the last quarter. Natixis Advisors LLC boosted its position in shares of Howmet Aerospace by 579.8% during the 2nd quarter. Natixis Advisors LLC now owns 592,463 shares of the company’s stock valued at $45,993,000 after acquiring an additional 505,306 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Howmet Aerospace by 695.6% in the third quarter. Assenagon Asset Management S.A. now owns 558,017 shares of the company’s stock worth $55,941,000 after purchasing an additional 487,880 shares during the period. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HWM shares. UBS Group upped their price target on shares of Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. KeyCorp downgraded Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Truist Financial upped their price objective on Howmet Aerospace from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. BTIG Research raised their price target on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $115.41.

Howmet Aerospace Trading Down 0.6 %

NYSE HWM opened at $117.69 on Tuesday. The firm has a 50-day moving average price of $106.73 and a 200 day moving average price of $93.85. The company has a quick ratio of 0.98, a current ratio of 2.24 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $47.81 billion, a P/E ratio of 44.92, a P/E/G ratio of 1.59 and a beta of 1.48. Howmet Aerospace Inc. has a 52-week low of $52.06 and a 52-week high of $119.28.

Howmet Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Friday, November 8th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, November 8th. Howmet Aerospace’s dividend payout ratio is currently 12.21%.

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.