Retirement Systems of Alabama Sells 2,336 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Retirement Systems of Alabama lowered its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,209 shares of the company’s stock after selling 2,336 shares during the period. Retirement Systems of Alabama’s holdings in Howmet Aerospace were worth $4,666,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Accurate Wealth Management LLC acquired a new position in Howmet Aerospace during the 4th quarter worth $2,825,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Howmet Aerospace during the third quarter worth $1,697,000. QRG Capital Management Inc. bought a new stake in shares of Howmet Aerospace during the third quarter worth approximately $407,000. Cullen Investment Group LTD. acquired a new stake in shares of Howmet Aerospace during the fourth quarter worth $703,000. Finally, Victory Capital Management Inc. increased its holdings 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 purchasing an additional 45,246 shares during the period. Institutional investors own 90.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HWM. UBS Group boosted their target price on shares of Howmet Aerospace from $57.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. lifted their price target on Howmet Aerospace from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. The Goldman Sachs Group upped their price objective on Howmet Aerospace from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday. Benchmark reiterated a “buy” rating and set a $53.00 target price on shares of Howmet Aerospace in a research report on Friday, April 19th. Finally, Robert W. Baird upped their price target on shares of Howmet Aerospace from $74.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.77.

Insiders Place Their Bets

In other 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 transaction 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 approximately $15,482,065.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.12% of the stock is currently owned by insiders.

Howmet Aerospace Price Performance

Shares of NYSE:HWM opened at $78.89 on Monday. The business has a fifty day moving average price of $66.70 and a 200-day moving average price of $58.16. The company has a market capitalization of $32.22 billion, a PE ratio of 38.11, a PEG ratio of 1.91 and a beta of 1.41. Howmet Aerospace Inc. has a 1-year low of $42.17 and a 1-year high of $79.47. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.97 and a quick ratio of 0.87.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.52 by $0.05. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. Howmet Aerospace’s revenue was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted $0.42 earnings per share. As a group, equities analysts expect that Howmet Aerospace Inc. will post 2.37 EPS for the current fiscal year.

Howmet Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, May 9th. Howmet Aerospace’s dividend payout ratio is currently 9.66%.

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.