California Public Employees Retirement System Trims Stock Position in Howmet Aerospace Inc. (NYSE:HWM)

California Public Employees Retirement System lessened its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 4.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 722,379 shares of the company’s stock after selling 37,024 shares during the quarter. California Public Employees Retirement System’s holdings in Howmet Aerospace were worth $39,095,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC lifted its position in shares of Howmet Aerospace by 61.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 558 shares of the company’s stock worth $26,000 after buying an additional 212 shares during the last quarter. Headinvest LLC acquired a new position in shares of Howmet Aerospace in the 3rd quarter valued at $30,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Howmet Aerospace in the 3rd quarter valued at $31,000. Lindbrook Capital LLC increased its holdings in shares of Howmet Aerospace by 34.4% in the 4th quarter. Lindbrook Capital LLC now owns 894 shares of the company’s stock valued at $48,000 after acquiring an additional 229 shares during the period. Finally, Blue Trust Inc. increased 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 acquiring an additional 271 shares during the period. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Analyst Ratings Changes

HWM has been the topic of a number of recent research reports. Royal Bank of Canada initiated coverage on shares of Howmet Aerospace in a report on Monday, March 18th. They issued an “outperform” rating and a $75.00 target price on the stock. UBS Group boosted their price objective on shares of Howmet Aerospace from $57.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Sanford C. Bernstein assumed coverage on shares of Howmet Aerospace in a research note on Friday, January 5th. They issued an “outperform” rating and a $67.00 price objective on the stock. Robert W. Baird boosted their price objective on shares of Howmet Aerospace from $65.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, KeyCorp boosted their price objective on shares of Howmet Aerospace from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Howmet Aerospace presently has an average rating of “Moderate Buy” and a consensus price target of $66.00.

Howmet Aerospace Price Performance

Howmet Aerospace stock opened at $66.40 on Friday. Howmet Aerospace Inc. has a 52 week low of $42.17 and a 52 week high of $69.55. The company has a quick ratio of 0.87, a current ratio of 1.86 and a debt-to-equity ratio of 0.88. The firm’s 50-day simple moving average is $65.97 and its 200 day simple moving average is $57.07. The firm has a market capitalization of $27.12 billion, a PE ratio of 36.28, a P/E/G ratio of 1.68 and a beta of 1.43.

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

Howmet Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.30%. Howmet Aerospace’s dividend payout ratio is presently 10.93%.

Insider Buying and Selling

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $67.44, for a total value of $3,034,800.00. Following the transaction, the executive vice president now directly owns 229,568 shares in the company, valued at approximately $15,482,065.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.12% of the company’s stock.

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.