First Trust Direct Indexing L.P. Boosts Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

First Trust Direct Indexing L.P. lifted its position in Howmet Aerospace Inc. (NYSE:HWM) by 29.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,908 shares of the company’s stock after buying an additional 3,181 shares during the period. First Trust Direct Indexing L.P.’s holdings in Howmet Aerospace were worth $1,394,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of HWM. Wealth Enhancement Advisory Services LLC grew its position in shares of Howmet Aerospace by 2.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,746 shares of the company’s stock worth $872,000 after buying an additional 246 shares during the last quarter. HB Wealth Management LLC purchased a new stake in Howmet Aerospace during the 1st quarter worth approximately $239,000. Private Advisor Group LLC grew its position in Howmet Aerospace by 11.3% during the 1st quarter. Private Advisor Group LLC now owns 16,688 shares of the company’s stock worth $1,142,000 after purchasing an additional 1,690 shares during the last quarter. Janney Montgomery Scott LLC grew its position in Howmet Aerospace by 8.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 23,347 shares of the company’s stock worth $1,598,000 after purchasing an additional 1,882 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in Howmet Aerospace by 5.8% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,256 shares of the company’s stock worth $839,000 after purchasing an additional 670 shares during the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Insider Activity at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the company’s 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 sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Neil Edward Marchuk sold 70,637 shares of the company’s 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 sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Ken Giacobbe sold 154,909 shares of the company’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 directly owns 155,135 shares of the company’s stock, valued at $14,982,938.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.

Howmet Aerospace Price Performance

Howmet Aerospace stock opened at $99.72 on Friday. Howmet Aerospace Inc. has a 52-week low of $43.50 and a 52-week high of $106.93. The firm has a market capitalization of $40.70 billion, a price-to-earnings ratio of 48.17, a PEG ratio of 1.51 and a beta of 1.46. The company has a fifty day simple moving average of $99.16 and a 200-day simple moving average of $87.46. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) 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 business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts anticipate that Howmet Aerospace Inc. will post 2.59 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s payout ratio is 15.46%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on HWM shares. Sanford C. Bernstein boosted their target price on shares of Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Barclays boosted their target price on shares of Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Royal Bank of Canada lifted their price objective on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, KeyCorp cut shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.50.

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.