Texas Permanent School Fund Corp Sells 16,205 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Texas Permanent School Fund Corp decreased its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 20.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,657 shares of the company’s stock after selling 16,205 shares during the period. Texas Permanent School Fund Corp’s holdings in Howmet Aerospace were worth $5,019,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cultivar Capital Inc. bought a new stake in Howmet Aerospace in the second quarter valued at approximately $26,000. LGT Financial Advisors LLC increased its stake in shares of Howmet Aerospace by 278.7% during the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after purchasing an additional 262 shares during the period. Rothschild Investment LLC bought a new position in shares of Howmet Aerospace during the second quarter worth approximately $32,000. Versant Capital Management Inc increased its stake in shares of Howmet Aerospace by 1,209.1% during the second 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. increased its stake in shares of Howmet Aerospace by 81.4% during the first quarter. Whittier Trust Co. now owns 508 shares of the company’s stock worth $35,000 after purchasing an additional 228 shares during the period. Institutional investors own 90.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on HWM shares. Benchmark increased their target price on Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. KeyCorp increased their target price on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Barclays increased their target price on Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Northcoast Research reiterated a “sell” rating and set a $70.00 target price on shares of Howmet Aerospace in a research note on Friday, June 14th. Finally, 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 report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.67.

Howmet Aerospace Trading Up 0.1 %

Shares of HWM stock opened at $94.23 on Friday. The stock’s fifty day moving average price is $89.39 and its two-hundred day moving average price is $79.15. The company has a market cap of $38.46 billion, a PE ratio of 45.52, a P/E/G ratio of 1.37 and a beta of 1.46. Howmet Aerospace Inc. has a fifty-two week low of $42.94 and a fifty-two week high of $98.15. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.53.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.83 billion. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. Equities analysts predict that Howmet Aerospace Inc. will post 2.59 EPS for the current fiscal 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 $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Friday, August 9th. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s dividend payout ratio (DPR) is currently 15.46%.

Insider Activity

In other news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction on 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction on 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The disclosure for this sale can be found here. 1.12% of the stock is owned by corporate insiders.

Howmet Aerospace Company 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.