Western Financial Corp CA Acquires Shares of 8,017 Howmet Aerospace Inc. (NYSE:HWM)

Western Financial Corp CA acquired a new position in shares of Howmet Aerospace Inc. (NYSE:HWM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,017 shares of the company’s stock, valued at approximately $1,040,000.

A number of other hedge funds have also recently bought and sold shares of HWM. Murphy & Mullick Capital Management Corp purchased a new position in Howmet Aerospace during the fourth quarter worth about $25,000. Meeder Asset Management Inc. boosted its holdings in Howmet Aerospace by 208.1% during the fourth quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock worth $25,000 after purchasing an additional 154 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Howmet Aerospace during the fourth quarter worth about $25,000. Washington Trust Advisors Inc. purchased a new position in Howmet Aerospace during the fourth quarter worth about $29,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Howmet Aerospace during the fourth quarter worth about $30,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Neil Edward Marchuk sold 30,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 131,859 shares in the company, valued at $20,903,607.27. The trade was a 18.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Barbara Lou Shultz sold 1,250 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $155.17, for a total value of $193,962.50. Following the transaction, the vice president now owns 23,044 shares of the company’s stock, valued at approximately $3,575,737.48. The trade was a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 831,250 shares of company stock worth $130,517,863. 1.04% of the stock is owned by corporate insiders.

Howmet Aerospace Price Performance

Shares of NYSE HWM opened at $176.18 on Thursday. The stock has a market cap of $71.12 billion, a PE ratio of 57.39, a price-to-earnings-growth ratio of 2.67 and a beta of 1.44. Howmet Aerospace Inc. has a fifty-two week low of $76.83 and a fifty-two week high of $178.69. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.07 and a current ratio of 2.30. The stock has a fifty day moving average of $159.24 and a 200-day moving average of $135.85.

Howmet Aerospace (NYSE:HWM) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Howmet Aerospace had a return on equity of 27.25% and a net margin of 16.64%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 earnings per share. Equities research analysts anticipate that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Friday, May 9th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 13.03%.

Analysts Set New Price Targets

A number of analysts recently commented on HWM shares. Benchmark lifted their price target on Howmet Aerospace from $85.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, April 21st. Northcoast Research raised shares of Howmet Aerospace from a “sell” rating to a “neutral” rating in a report on Wednesday, April 9th. Wells Fargo & Company increased their price target on shares of Howmet Aerospace from $118.00 to $145.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. Truist Financial increased their price target on shares of Howmet Aerospace from $161.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday, June 12th. Finally, Royal Bank Of Canada increased their price target on shares of Howmet Aerospace from $165.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, June 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $142.13.

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.