Mach 1 Financial Group LLC Purchases Shares of 13,748 Howmet Aerospace Inc. (NYSE:HWM)

Mach 1 Financial Group LLC bought a new position in shares of Howmet Aerospace Inc. (NYSE:HWM) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,748 shares of the company’s stock, valued at approximately $744,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Choreo LLC bought a new stake in shares of Howmet Aerospace during the fourth quarter worth about $1,532,000. PGGM Investments grew its position in Howmet Aerospace by 1.5% in the 4th quarter. PGGM Investments now owns 149,155 shares of the company’s stock worth $8,072,000 after purchasing an additional 2,275 shares in the last quarter. Russell Investments Group Ltd. grew its position in Howmet Aerospace by 6.5% in the 4th quarter. Russell Investments Group Ltd. now owns 196,392 shares of the company’s stock worth $10,629,000 after purchasing an additional 12,011 shares in the last quarter. Truist Financial Corp grew its position in Howmet Aerospace by 1.3% in the 4th quarter. Truist Financial Corp now owns 61,486 shares of the company’s stock worth $3,328,000 after purchasing an additional 768 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in Howmet Aerospace by 7.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,586 shares of the company’s stock worth $627,000 after purchasing an additional 836 shares in the last quarter. 90.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HWM. The Goldman Sachs Group upped their price objective on shares of Howmet Aerospace from $65.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Truist Financial upgraded shares of Howmet Aerospace from a “hold” rating to a “buy” rating and boosted their target price for the company from $47.00 to $74.00 in a research note on Wednesday, January 10th. Robert W. Baird boosted their target price 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. Barclays boosted their target price on shares of Howmet Aerospace from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Finally, Sanford C. Bernstein began coverage on shares of Howmet Aerospace in a research note on Friday, January 5th. They issued an “outperform” rating and a $67.00 target price on the stock. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.00.

Howmet Aerospace Price Performance

NYSE HWM traded down $0.36 on Tuesday, hitting $66.75. The stock had a trading volume of 4,908,316 shares, compared to its average volume of 3,361,126. The firm has a 50-day moving average of $66.13 and a 200-day moving average of $57.53. The company has a market capitalization of $27.26 billion, a price-to-earnings ratio of 36.48, a price-to-earnings-growth ratio of 1.73 and a beta of 1.43. Howmet Aerospace Inc. has a 52-week low of $42.17 and a 52-week high of $69.55. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.87 and a current ratio of 1.86.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results 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 analyst estimates of $1.65 billion. Howmet Aerospace had a net margin of 11.52% and a return on equity of 20.12%. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 EPS. Equities analysts expect that Howmet Aerospace Inc. will post 2.18 EPS for the current year.

Howmet Aerospace Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Friday, May 10th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Thursday, May 9th. Howmet Aerospace’s payout ratio is 10.93%.

Insider Transactions at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the stock in a transaction on 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 transaction, 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 SEC, which is available through the SEC website. 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.