Grant Street Asset Management Inc. Acquires Shares of 2,043 Howmet Aerospace Inc. (NYSE:HWM)

Grant Street Asset Management Inc. acquired a new position in Howmet Aerospace Inc. (NYSE:HWM) in the third quarter, HoldingsChannel.com reports. The fund acquired 2,043 shares of the company’s stock, valued at approximately $205,000.

Several other hedge funds have also modified their holdings of HWM. Senator Investment Group LP increased its holdings in Howmet Aerospace by 24.8% in the 2nd quarter. Senator Investment Group LP now owns 156,000 shares of the company’s stock worth $12,110,000 after acquiring an additional 31,000 shares in the last quarter. Terra Nova Asset Management LLC purchased a new position in Howmet Aerospace in the 3rd quarter valued at about $1,264,000. Wealthspire Advisors LLC acquired a new stake in Howmet Aerospace in the 2nd quarter worth about $209,000. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Howmet Aerospace by 1,258.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,051 shares of the company’s stock valued at $206,000 after acquiring an additional 1,900 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of Howmet Aerospace by 67.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 80,414 shares of the company’s stock worth $5,431,000 after acquiring an additional 32,431 shares during the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Trading Up 2.5 %

Shares of HWM stock opened at $115.99 on Wednesday. Howmet Aerospace Inc. has a fifty-two week low of $51.22 and a fifty-two week high of $116.74. The company has a 50 day moving average price of $103.22 and a 200 day moving average price of $91.80. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 2.24. The stock has a market capitalization of $47.12 billion, a P/E ratio of 44.27, a price-to-earnings-growth ratio of 1.50 and a beta of 1.46.

Howmet Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s dividend payout ratio is presently 12.21%.

Analyst Upgrades and Downgrades

HWM has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on shares of Howmet Aerospace from $113.00 to $129.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Susquehanna upped their price target on Howmet Aerospace from $120.00 to $132.00 and gave the company a “positive” rating in a research report on Thursday, November 7th. Sanford C. Bernstein lifted their price objective on Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Robert W. Baird boosted their price objective on Howmet Aerospace from $113.00 to $144.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, BTIG Research raised their target price on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.41.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This trade represents a 43.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was 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 directly owns 155,135 shares in the company, valued at approximately $14,982,938.30. This represents a 49.96 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is owned by insiders.

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.