Sei Investments Co. Sells 20,836 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Sei Investments Co. cut its stake in Howmet Aerospace Inc. (NYSE:HWM) by 3.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 547,651 shares of the company’s stock after selling 20,836 shares during the quarter. Sei Investments Co. owned 0.13% of Howmet Aerospace worth $42,514,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Cultivar Capital Inc. bought a new stake in Howmet Aerospace during the second quarter valued at approximately $26,000. LGT Financial Advisors LLC grew its position in shares of Howmet Aerospace by 278.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock valued at $28,000 after acquiring an additional 262 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Howmet Aerospace in the 2nd quarter worth $32,000. Versant Capital Management Inc raised its holdings in Howmet Aerospace by 1,209.1% in the 2nd quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock worth $34,000 after purchasing an additional 399 shares during the period. Finally, Whittier Trust Co. lifted its position in Howmet Aerospace by 81.4% during the first quarter. Whittier Trust Co. now owns 508 shares of the company’s stock valued at $35,000 after purchasing an additional 228 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Price Performance

Shares of HWM stock opened at $98.63 on Tuesday. The company has a market capitalization of $40.26 billion, a P/E ratio of 47.65, a P/E/G ratio of 1.41 and a beta of 1.46. The company’s 50-day simple moving average is $91.71 and its two-hundred day simple moving average is $80.74. Howmet Aerospace Inc. has a one year low of $42.94 and a one year high of $98.97. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the business posted $0.44 EPS. Howmet Aerospace’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities analysts anticipate that Howmet Aerospace Inc. will post 2.59 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.32%. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Friday, August 9th. Howmet Aerospace’s dividend payout ratio is presently 15.46%.

Insiders Place Their Bets

In other news, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total value of $14,961,111.22. Following the completion of the sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the transaction, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, 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 owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HWM. Northcoast Research reissued a “sell” rating and issued a $70.00 target price on shares of Howmet Aerospace in a report on Friday, June 14th. JPMorgan Chase & Co. increased their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Robert W. Baird lifted their target price on shares of Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Truist Financial increased their price target on Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, BTIG Research boosted their price objective on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.67.

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.