Allspring Global Investments Holdings LLC Lowers Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Allspring Global Investments Holdings LLC reduced its stake in Howmet Aerospace Inc. (NYSE:HWM) by 9.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 121,792 shares of the company’s stock after selling 13,016 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Howmet Aerospace were worth $6,591,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Venturi Wealth Management LLC grew its stake in shares of Howmet Aerospace by 61.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 558 shares of the company’s stock valued at $26,000 after purchasing an additional 212 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Howmet Aerospace by 24.5% in the 3rd quarter. Huntington National Bank now owns 1,315 shares of the company’s stock valued at $61,000 after buying an additional 259 shares during the period. Blue Trust Inc. lifted its holdings in shares of Howmet Aerospace by 33.1% in the 4th quarter. Blue Trust Inc. now owns 1,089 shares of the company’s stock valued at $59,000 after buying an additional 271 shares during the period. Valeo Financial Advisors LLC lifted its holdings in shares of Howmet Aerospace by 6.7% in the 3rd quarter. Valeo Financial Advisors LLC now owns 4,371 shares of the company’s stock valued at $202,000 after buying an additional 274 shares during the period. Finally, Advisory Services Network LLC lifted its holdings in shares of Howmet Aerospace by 29.3% in the 1st quarter. Advisory Services Network LLC now owns 1,309 shares of the company’s stock valued at $55,000 after buying an additional 297 shares during the period. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 45,000 shares of Howmet Aerospace stock in a transaction on Monday, March 4th. The stock was sold at an average price of $67.44, for a total value of $3,034,800.00. Following the completion of the sale, the executive vice president now owns 229,568 shares of the company’s stock, valued at $15,482,065.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.23% of the company’s stock.

Howmet Aerospace Stock Performance

NYSE HWM opened at $63.50 on Friday. Howmet Aerospace Inc. has a fifty-two week low of $42.17 and a fifty-two week high of $69.55. The stock has a market cap of $25.93 billion, a price-to-earnings ratio of 34.70, a price-to-earnings-growth ratio of 1.67 and a beta of 1.43. The business has a fifty day moving average of $65.61 and a 200-day moving average of $56.29. The company has a quick ratio of 0.87, a current ratio of 1.86 and a debt-to-equity ratio of 0.88.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. As a group, analysts predict that Howmet Aerospace Inc. will post 2.18 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Friday, February 9th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Thursday, February 8th. Howmet Aerospace’s dividend payout ratio is currently 10.93%.

Wall Street Analysts Forecast Growth

HWM has been the subject of several recent analyst reports. Robert W. Baird raised their price target on Howmet Aerospace from $65.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Barclays raised their price target on Howmet Aerospace from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Royal Bank of Canada assumed coverage on Howmet Aerospace in a report on Monday, March 18th. They issued an “outperform” rating and a $75.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Howmet Aerospace from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Finally, KeyCorp lifted their price objective on Howmet Aerospace from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $66.00.

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.