Howmet Aerospace Inc. (NYSE:HWM) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in Howmet Aerospace Inc. (NYSE:HWM) by 25.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,374 shares of the company’s stock after selling 58,438 shares during the quarter. Victory Capital Management Inc.’s holdings in Howmet Aerospace were worth $13,614,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of HWM. Defined Wealth Management LLC purchased a new stake in Howmet Aerospace during the 2nd quarter worth about $219,000. LGT Financial Advisors LLC raised 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 worth $28,000 after acquiring an additional 262 shares in the last quarter. National Bank of Canada FI lifted its stake in Howmet Aerospace by 21.3% during the second quarter. National Bank of Canada FI now owns 108,576 shares of the company’s stock worth $8,393,000 after purchasing an additional 19,058 shares during the last quarter. Chase Investment Counsel Corp boosted its holdings in Howmet Aerospace by 4.6% in the second quarter. Chase Investment Counsel Corp now owns 51,945 shares of the company’s stock valued at $4,032,000 after purchasing an additional 2,269 shares in the last quarter. Finally, Range Financial Group LLC purchased a new position in Howmet Aerospace in the second quarter valued at approximately $321,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HWM. BTIG Research boosted their price objective on shares of Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Northcoast Research reissued a “sell” rating and issued a $70.00 price target on shares of Howmet Aerospace in a research report on Friday, June 14th. JPMorgan Chase & Co. raised their price objective on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Barclays boosted their target price on Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, KeyCorp lifted their price target on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $90.67.

Howmet Aerospace Price Performance

Shares of NYSE HWM opened at $95.28 on Friday. The stock has a fifty day moving average price of $89.72 and a 200 day moving average price of $79.36. Howmet Aerospace Inc. has a 1-year low of $42.94 and a 1-year high of $98.15. 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 company has a market cap of $38.89 billion, a PE ratio of 46.03, a P/E/G ratio of 1.41 and a beta of 1.46.

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

Howmet Aerospace Increases Dividend

The firm also recently disclosed 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 yield of 0.34%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. Howmet Aerospace’s payout ratio is currently 15.46%.

Insiders Place Their Bets

In other news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the sale, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction dated 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 in the company, valued at approximately $8,985,077.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of the firm’s 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 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 disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.

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.