Massachusetts Financial Services Co. MA Lowers Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Massachusetts Financial Services Co. MA reduced its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 12.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,845,616 shares of the company’s stock after selling 2,814,603 shares during the quarter. Massachusetts Financial Services Co. MA owned about 4.86% of Howmet Aerospace worth $1,540,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Howmet Aerospace by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock valued at $2,448,804,000 after acquiring an additional 1,274,974 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Howmet Aerospace by 18.7% in the first quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock worth $1,223,358,000 after purchasing an additional 2,813,911 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Howmet Aerospace by 28.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock worth $966,959,000 after buying an additional 3,158,186 shares in the last quarter. Norges Bank bought a new position in Howmet Aerospace during the fourth quarter valued at approximately $508,006,000. Finally, Bank of New York Mellon Corp grew its holdings in Howmet Aerospace by 15.1% during the 1st quarter. Bank of New York Mellon Corp now owns 6,184,692 shares of the company’s stock valued at $423,218,000 after buying an additional 810,681 shares in the last quarter. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Trading Up 1.1 %

Shares of HWM opened at $95.28 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74. The firm has a market capitalization of $38.89 billion, a price-to-earnings ratio of 46.03, a PEG ratio of 1.41 and a beta of 1.46. The company has a 50-day moving average of $89.72 and a 200 day moving average of $79.54. Howmet Aerospace Inc. has a 1-year low of $42.94 and a 1-year high of $98.15.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The company’s revenue was up 14.1% on a year-over-year basis. On average, research analysts expect that Howmet Aerospace Inc. will post 2.59 EPS for the current year.

Howmet Aerospace Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, August 9th. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s dividend payout ratio (DPR) is currently 15.46%.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction 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. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of the transaction, the chief financial officer now owns 155,135 shares of the company’s stock, valued at $14,982,938.30. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. BTIG Research raised their target price on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 5th. Royal Bank of Canada upped their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Barclays lifted their price target on Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Benchmark upped their price objective on Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 12th. Finally, Truist Financial lifted their target price on Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Howmet Aerospace presently has a consensus rating of “Moderate Buy” and an average target price of $90.67.

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.