Cresset Asset Management LLC Trims Stake in Howmet Aerospace Inc. (NYSE:HWM)

Cresset Asset Management LLC cut its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 84.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,536 shares of the company’s stock after selling 34,231 shares during the quarter. Cresset Asset Management LLC’s holdings in Howmet Aerospace were worth $715,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Howmet Aerospace during the fourth quarter worth approximately $25,000. Meeder Asset Management Inc. lifted its stake in Howmet Aerospace by 208.1% during the 4th quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock worth $25,000 after acquiring an additional 154 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Howmet Aerospace during the 4th quarter worth about $25,000. R Squared Ltd acquired a new position in Howmet Aerospace during the 4th quarter worth about $26,000. Finally, Washington Trust Advisors Inc. purchased a new stake in Howmet Aerospace during the 4th quarter worth about $29,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HWM shares. Morgan Stanley upped their price target on Howmet Aerospace from $125.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Benchmark raised their price target on Howmet Aerospace from $85.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, April 21st. Truist Financial dropped their price target on Howmet Aerospace from $140.00 to $136.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. The Goldman Sachs Group increased their price objective on Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, UBS Group increased their price objective on Howmet Aerospace from $120.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.53.

Howmet Aerospace Trading Up 0.9%

Shares of HWM opened at $158.33 on Wednesday. The stock’s 50-day moving average is $132.66 and its two-hundred day moving average is $123.72. The stock has a market cap of $63.91 billion, a PE ratio of 56.15, a P/E/G ratio of 1.92 and a beta of 1.37. Howmet Aerospace Inc. has a 12 month low of $76.83 and a 12 month high of $161.58. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.17 and a quick ratio of 0.98.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. Howmet Aerospace had a return on equity of 25.74% and a net margin of 15.55%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. Equities analysts forecast that Howmet Aerospace Inc. will post 3.27 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 Tuesday, May 27th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, May 9th. Howmet Aerospace’s payout ratio is currently 13.03%.

Insider Buying and Selling at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 30,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $158.53, for a total value of $4,755,900.00. Following the completion of the transaction, the executive vice president now directly owns 131,859 shares of the company’s stock, valued at $20,903,607.27. This represents a 18.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Barbara Lou Shultz sold 1,250 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $155.17, for a total value of $193,962.50. Following the completion of the transaction, the vice president now directly owns 23,044 shares of the company’s stock, valued at $3,575,737.48. This trade represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 831,250 shares of company stock worth $130,517,863 over the last quarter. 1.12% of the stock is owned by corporate insiders.

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.