Amalgamated Bank Reduces Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Amalgamated Bank cut its position in shares of Howmet Aerospace Inc. (NYSE:HWM) by 0.5% during the second quarter, Holdings Channel.com reports. The firm owned 79,873 shares of the company’s stock after selling 388 shares during the quarter. Amalgamated Bank’s holdings in Howmet Aerospace were worth $6,201,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Peregrine Asset Advisers Inc. purchased a new stake in shares of Howmet Aerospace in the 2nd quarter valued at approximately $4,206,000. Renaissance Technologies LLC lifted its holdings in Howmet Aerospace by 341.7% in the second quarter. Renaissance Technologies LLC now owns 709,400 shares of the company’s stock valued at $55,071,000 after acquiring an additional 548,800 shares during the last quarter. Quantbot Technologies LP grew its position in Howmet Aerospace by 488.6% in the second quarter. Quantbot Technologies LP now owns 104,532 shares of the company’s stock worth $8,115,000 after acquiring an additional 86,772 shares during the period. Dimensional Fund Advisors LP increased its stake in Howmet Aerospace by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,102,155 shares of the company’s stock worth $163,218,000 after acquiring an additional 56,614 shares during the last quarter. Finally, Plato Investment Management Ltd raised its position in Howmet Aerospace by 16.2% in the second quarter. Plato Investment Management Ltd now owns 17,668 shares of the company’s stock valued at $1,372,000 after purchasing an additional 2,469 shares during the period. 90.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the firm’s 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 sale, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Neil Edward Marchuk sold 70,637 shares of the business’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 sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Howmet Aerospace Price Performance

Shares of NYSE HWM opened at $97.43 on Friday. 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 $39.77 billion, a price-to-earnings ratio of 47.07, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46. The stock’s 50-day moving average is $90.95 and its two-hundred day moving average is $80.16. Howmet Aerospace Inc. has a 1-year low of $42.94 and a 1-year high of $98.15.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the firm earned $0.44 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. Analysts forecast that Howmet Aerospace Inc. will post 2.59 EPS for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.08 per share. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. This represents a $0.32 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Friday, August 9th. Howmet Aerospace’s payout ratio is 15.46%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HWM. Robert W. Baird increased their price target on Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Benchmark increased their target price on shares of Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. KeyCorp lifted their price target on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Royal Bank of Canada upped their price objective on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Barclays lifted their target price on shares of Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Howmet Aerospace has an average rating of “Moderate Buy” and a consensus price target 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.