Swiss National Bank Reduces Position in Howmet Aerospace Inc. (NYSE:HWM)

Swiss National Bank cut its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 4.3% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,171,384 shares of the company’s stock after selling 52,300 shares during the quarter. Swiss National Bank’s holdings in Howmet Aerospace were worth $80,158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in HWM. Public Sector Pension Investment Board lifted its holdings in Howmet Aerospace by 19.4% during the third quarter. Public Sector Pension Investment Board now owns 41,947 shares of the company’s stock valued at $1,940,000 after purchasing an additional 6,805 shares during the last quarter. Headinvest LLC purchased a new stake in Howmet Aerospace during the third quarter valued at about $30,000. Covea Finance lifted its holdings in Howmet Aerospace by 7.6% during the fourth quarter. Covea Finance now owns 694,050 shares of the company’s stock valued at $37,562,000 after purchasing an additional 48,800 shares during the last quarter. Wedmont Private Capital purchased a new stake in shares of Howmet Aerospace in the fourth quarter worth about $272,000. Finally, Daymark Wealth Partners LLC purchased a new stake in shares of Howmet Aerospace in the fourth quarter worth about $202,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Price Performance

Shares of HWM stock traded up $0.25 during trading hours on Monday, hitting $79.48. 138,045 shares of the company’s stock were exchanged, compared to its average volume of 3,169,941. The company has a market capitalization of $32.44 billion, a PE ratio of 38.43, a PEG ratio of 1.44 and a beta of 1.46. Howmet Aerospace Inc. has a 12-month low of $42.94 and a 12-month high of $85.52. The business’s 50 day simple moving average is $81.45 and its 200-day simple moving average is $69.13. The company has a current ratio of 1.97, a quick ratio of 0.92 and a debt-to-equity ratio of 0.86.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.52 by $0.05. The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.74 billion. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. On average, equities research analysts anticipate that Howmet Aerospace Inc. will post 2.39 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend was Thursday, May 9th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 9.66%.

Insiders Place Their Bets

In related news, EVP Neil Edward Marchuk sold 32,614 shares of Howmet Aerospace stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $84.26, for a total value of $2,748,055.64. Following the transaction, the executive vice president now directly owns 217,687 shares of the company’s stock, valued at $18,342,306.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.12% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays increased their price target on shares of Howmet Aerospace from $65.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. KeyCorp increased their price target on shares of Howmet Aerospace from $70.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Wells Fargo & Company increased their price target on shares of Howmet Aerospace from $72.00 to $88.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. The Goldman Sachs Group increased their price target on shares of Howmet Aerospace from $77.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada increased their price target on shares of Howmet Aerospace from $75.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $77.76.

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.