Assenagon Asset Management S.A. Grows Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Assenagon Asset Management S.A. lifted its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 695.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 558,017 shares of the company’s stock after acquiring an additional 487,880 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Howmet Aerospace were worth $55,941,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Cultivar Capital Inc. purchased a new position in shares of Howmet Aerospace during the 2nd quarter valued at approximately $26,000. LGT Financial Advisors LLC raised its stake in shares of Howmet Aerospace by 278.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock valued at $28,000 after purchasing an additional 262 shares in the last quarter. Rothschild Investment LLC acquired a new position in Howmet Aerospace in the second quarter worth about $32,000. Versant Capital Management Inc raised its stake in Howmet Aerospace by 1,209.1% during the second quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock valued at $34,000 after buying an additional 399 shares in the last quarter. Finally, AlphaCentric Advisors LLC acquired a new position in shares of Howmet Aerospace in the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Robert W. Baird raised their price target on shares of Howmet Aerospace from $84.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. KeyCorp downgraded shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday. BTIG Research upped their target price 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. Finally, Royal Bank of Canada boosted their price objective on Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Howmet Aerospace has a consensus rating of “Moderate Buy” and a consensus price target of $101.50.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the company’s 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Neil Edward Marchuk sold 70,637 shares of Howmet Aerospace 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 sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $14,961,111.22. Following the transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Howmet Aerospace Trading Down 2.1 %

Shares of NYSE HWM opened at $100.62 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.74 and a debt-to-equity ratio of 0.68. Howmet Aerospace Inc. has a one year low of $42.94 and a one year high of $106.93. The business has a 50-day moving average price of $98.58 and a two-hundred day moving average price of $86.12. The firm has a market capitalization of $41.07 billion, a PE ratio of 48.61, a PEG ratio of 1.51 and a beta of 1.46.

Howmet Aerospace (NYSE:HWM) last posted its quarterly 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 business 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 firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. As a group, analysts predict that Howmet Aerospace Inc. will post 2.59 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

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

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.