Aigen Investment Management LP Sells 8,416 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Aigen Investment Management LP cut its stake in Howmet Aerospace Inc. (NYSE:HWM) by 78.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,258 shares of the company’s stock after selling 8,416 shares during the period. Aigen Investment Management LP’s holdings in Howmet Aerospace were worth $226,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in HWM. Prime Capital Investment Advisors LLC bought a new position in Howmet Aerospace in the 3rd quarter worth about $201,000. Arcus Capital Partners LLC purchased a new position in shares of Howmet Aerospace during the third quarter valued at $304,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Howmet Aerospace by 6.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 958,493 shares of the company’s stock valued at $96,089,000 after acquiring an additional 55,118 shares in the last quarter. Entropy Technologies LP purchased a new stake in Howmet Aerospace in the third quarter worth about $1,545,000. Finally, Apollon Wealth Management LLC lifted its stake in Howmet Aerospace by 25.0% in the third quarter. Apollon Wealth Management LLC now owns 6,447 shares of the company’s stock worth $646,000 after acquiring an additional 1,289 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HWM. Wells Fargo & Company boosted their price target on shares of Howmet Aerospace from $113.00 to $129.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Truist Financial upped their target price on Howmet Aerospace from $123.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their price target on Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Sanford C. Bernstein upped their price objective on Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, KeyCorp cut shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Howmet Aerospace currently has an average rating of “Moderate Buy” and an average price target of $115.41.

Insiders Place Their Bets

In related news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction 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. This trade represents a 43.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now owns 155,135 shares of the company’s stock, valued at $14,982,938.30. This represents a 49.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.

Howmet Aerospace Stock Down 1.1 %

Shares of HWM stock opened at $112.01 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 2.24. Howmet Aerospace Inc. has a fifty-two week low of $51.22 and a fifty-two week high of $116.74. The firm has a market capitalization of $45.51 billion, a PE ratio of 42.75, a P/E/G ratio of 1.57 and a beta of 1.46. The stock’s 50-day simple moving average is $102.37 and its 200-day simple moving average is $91.12.

Howmet Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Friday, November 8th. Howmet Aerospace’s dividend payout ratio is presently 12.21%.

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.