Howmet Aerospace Inc. (NYSE:HWM) Shares Acquired by Cumberland Partners Ltd

Cumberland Partners Ltd grew its position in Howmet Aerospace Inc. (NYSE:HWM) by 51.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 115,670 shares of the company’s stock after purchasing an additional 39,340 shares during the quarter. Cumberland Partners Ltd’s holdings in Howmet Aerospace were worth $6,216,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC raised its holdings 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 in the last quarter. Headinvest LLC acquired a new stake in shares of Howmet Aerospace in the 3rd quarter valued at $30,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Howmet Aerospace in the 3rd quarter valued at $31,000. Lindbrook Capital LLC raised 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 purchasing an additional 229 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Howmet Aerospace by 33.1% during the 4th quarter. Blue Trust Inc. now owns 1,089 shares of the company’s stock worth $59,000 after acquiring an additional 271 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Stock Performance

Shares of NYSE:HWM traded up $1.84 during midday trading on Tuesday, hitting $64.77. The stock had a trading volume of 3,002,418 shares, compared to its average volume of 3,339,666. The company has a market capitalization of $26.45 billion, a PE ratio of 35.39, a P/E/G ratio of 1.65 and a beta of 1.43. The stock has a 50 day moving average price of $65.84 and a two-hundred day moving average price of $56.83. The company has a current ratio of 1.86, a quick ratio of 0.87 and a debt-to-equity ratio of 0.88. Howmet Aerospace Inc. has a 1 year low of $42.17 and a 1 year high of $69.55.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.53 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 the consensus estimate of $1.65 billion. Howmet Aerospace had a net margin of 11.52% and a return on equity of 20.12%. The firm’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. As a group, equities 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 announced a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 9th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Thursday, February 8th. Howmet Aerospace’s payout ratio is currently 10.93%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Robert W. Baird lifted their price target on shares of Howmet Aerospace from $65.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Benchmark reiterated a “buy” rating and set a $53.00 price target on shares of Howmet Aerospace in a research note on Friday. KeyCorp lifted 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. Truist Financial upgraded shares of Howmet Aerospace from a “hold” rating to a “buy” rating and lifted their price objective for the company from $47.00 to $74.00 in a research note on Wednesday, January 10th. Finally, Royal Bank of Canada began coverage on shares of Howmet Aerospace in a research note on Monday, March 18th. They issued an “outperform” rating and a $75.00 price objective on the stock. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.00.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 45,000 shares of Howmet Aerospace 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 transaction, the executive vice president now owns 229,568 shares in the company, valued at $15,482,065.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.12% of the stock is currently owned by company insiders.

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.