USA Financial Formulas Reduces Position in Howmet Aerospace Inc. (NYSE:HWM)

USA Financial Formulas lowered its position in Howmet Aerospace Inc. (NYSE:HWM) by 14.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,430 shares of the company’s stock after selling 1,114 shares during the quarter. USA Financial Formulas’ holdings in Howmet Aerospace were worth $834,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Howmet Aerospace by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 47,117,309 shares of the company’s stock valued at $5,153,220,000 after purchasing an additional 352,256 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Howmet Aerospace by 14.0% in the fourth quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company’s stock valued at $2,209,071,000 after purchasing an additional 2,486,649 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Howmet Aerospace by 0.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,213,937 shares of the company’s stock valued at $1,445,210,000 after purchasing an additional 80,972 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Howmet Aerospace by 10.3% in the fourth quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company’s stock valued at $1,197,315,000 after purchasing an additional 1,026,130 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Howmet Aerospace by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 9,810,797 shares of the company’s stock valued at $1,070,267,000 after purchasing an additional 308,574 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Barclays increased their target price on shares of Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. BTIG Research reaffirmed a “buy” rating on shares of Howmet Aerospace in a research note on Monday, May 5th. Wells Fargo & Company increased their target price on shares of Howmet Aerospace from $118.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Friday, May 2nd. Finally, UBS Group increased their target price on shares of Howmet Aerospace from $120.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.59.

Insider Buying and Selling

In other news, VP Barbara Lou Shultz sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $155.17, for a total transaction of $193,962.50. Following the completion of the sale, the vice president now owns 23,044 shares in the company, valued at approximately $3,575,737.48. The trade was a 5.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Neil Edward Marchuk sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $158.53, for a total transaction of $4,755,900.00. Following the sale, the executive vice president now owns 131,859 shares of the company’s stock, valued at $20,903,607.27. This represents a 18.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 831,250 shares of company stock worth $130,517,863 over the last 90 days. 1.04% of the stock is owned by insiders.

Howmet Aerospace Stock Down 2.5%

Shares of NYSE:HWM opened at $168.51 on Wednesday. Howmet Aerospace Inc. has a fifty-two week low of $76.83 and a fifty-two week high of $177.25. The firm’s 50 day moving average price is $148.05 and its 200 day moving average price is $131.81. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74. The stock has a market cap of $68.02 billion, a price-to-earnings ratio of 59.76, a price-to-earnings-growth ratio of 1.92 and a beta of 1.44.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts predict that Howmet Aerospace Inc. will post 3.27 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 9th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.40 dividend on an annualized basis and a yield of 0.24%. Howmet Aerospace’s dividend payout ratio is currently 13.03%.

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.