Kensico Capital Management Corp Sells 83,000 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Kensico Capital Management Corp cut its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,375,300 shares of the company’s stock after selling 83,000 shares during the quarter. Howmet Aerospace makes up 13.4% of Kensico Capital Management Corp’s portfolio, making the stock its 2nd largest position. Kensico Capital Management Corp’s holdings in Howmet Aerospace were worth $587,897,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp acquired a new stake in Howmet Aerospace in the 4th quarter valued at about $25,000. Meeder Asset Management Inc. increased its holdings in shares of Howmet Aerospace by 208.1% in the fourth quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock valued at $25,000 after purchasing an additional 154 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Howmet Aerospace in the fourth quarter valued at approximately $25,000. R Squared Ltd bought a new position in Howmet Aerospace in the 4th quarter worth approximately $26,000. Finally, Washington Trust Advisors Inc. acquired a new position in Howmet Aerospace during the 4th quarter worth $29,000. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Stock Down 0.1 %

Shares of Howmet Aerospace stock opened at $157.40 on Friday. The company has a market capitalization of $63.54 billion, a P/E ratio of 55.82, a price-to-earnings-growth ratio of 1.92 and a beta of 1.37. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98. The business has a 50-day moving average of $131.46 and a two-hundred day moving average of $122.94. Howmet Aerospace Inc. has a 1 year low of $76.83 and a 1 year high of $159.04.

Howmet Aerospace (NYSE:HWM) last posted its 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 return on equity of 25.74% and a net margin of 15.55%. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the business earned $0.53 EPS. Howmet Aerospace’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, equities analysts predict that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Friday, May 9th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.40 annualized dividend and a yield of 0.25%. Howmet Aerospace’s dividend payout ratio is currently 13.03%.

Analysts Set New Price Targets

HWM has been the subject of a number of recent research reports. BTIG Research restated a “buy” rating on shares of Howmet Aerospace in a research report on Monday, May 5th. Benchmark boosted their price objective 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 research note on Wednesday, April 9th. UBS Group boosted their price target 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. Finally, The Goldman Sachs Group raised their price objective on shares of Howmet Aerospace from $124.00 to $139.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $132.53.

Insider Buying and Selling

In other Howmet Aerospace news, VP Barbara Lou Shultz sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $155.17, for a total value of $193,962.50. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.04% of the company’s stock.

About Howmet Aerospace

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.