Federated Hermes Inc. Cuts Stake in Howmet Aerospace Inc. (NYSE:HWM)

Federated Hermes Inc. lessened its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,898 shares of the company’s stock after selling 2,041 shares during the period. Federated Hermes Inc.’s holdings in Howmet Aerospace were worth $6,922,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Accurate Wealth Management LLC purchased a new position in Howmet Aerospace in the fourth quarter valued at $2,825,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Howmet Aerospace in the 3rd quarter valued at about $1,697,000. QRG Capital Management Inc. acquired a new position in shares of Howmet Aerospace during the third quarter worth about $407,000. Cullen Investment Group LTD. acquired a new position in shares of Howmet Aerospace during the fourth quarter worth about $703,000. Finally, Victory Capital Management Inc. increased its stake in shares of Howmet Aerospace by 15.0% during the third quarter. Victory Capital Management Inc. now owns 347,072 shares of the company’s stock worth $16,052,000 after buying an additional 45,246 shares during the period. Institutional investors and hedge funds own 90.46% of the company’s stock.

Howmet Aerospace Trading Down 0.1 %

Shares of Howmet Aerospace stock opened at $64.70 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.87 and a current ratio of 1.86. The company has a market capitalization of $26.42 billion, a P/E ratio of 35.36, a PEG ratio of 1.64 and a beta of 1.43. Howmet Aerospace Inc. has a 1 year low of $42.17 and a 1 year high of $69.55. The company’s fifty day moving average is $65.87 and its two-hundred day moving average is $56.88.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates 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 was up 14.4% on a year-over-year basis. During the same quarter last year, the company posted $0.38 earnings per share. Analysts forecast that Howmet Aerospace Inc. will post 2.18 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Barclays boosted their price target on shares of Howmet Aerospace from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. The Goldman Sachs Group increased their target price on Howmet Aerospace from $65.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Royal Bank of Canada began coverage on Howmet Aerospace in a report on Monday, March 18th. They set an “outperform” rating and a $75.00 price target for the company. Robert W. Baird raised their target price on Howmet Aerospace from $65.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Benchmark reaffirmed a “buy” rating and issued a $53.00 price target on shares of Howmet Aerospace in a report on Friday, April 19th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Howmet Aerospace presently has an average rating of “Moderate Buy” and a consensus price target of $66.00.

Insider Activity

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

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.