Prosperity Consulting Group LLC Purchases New Position in Howmet Aerospace Inc. (NYSE:HWM)

Prosperity Consulting Group LLC purchased a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 4,958 shares of the company’s stock, valued at approximately $385,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cultivar Capital Inc. purchased a new stake in Howmet Aerospace in the second quarter worth about $26,000. LGT Financial Advisors LLC grew its holdings in Howmet Aerospace by 278.7% in the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after purchasing an additional 262 shares during the period. Rothschild Investment LLC purchased a new stake in Howmet Aerospace in the second quarter worth about $32,000. Versant Capital Management Inc grew its holdings in Howmet Aerospace by 1,209.1% in the second quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock worth $34,000 after purchasing an additional 399 shares during the period. Finally, AlphaCentric Advisors LLC purchased a new stake in Howmet Aerospace in the second quarter worth about $36,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Up 1.1 %

Shares of Howmet Aerospace stock opened at $95.28 on Friday. The company has a market cap of $38.89 billion, a price-to-earnings ratio of 46.03, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46. The company’s 50 day moving average is $89.72 and its 200 day moving average is $79.45. Howmet Aerospace Inc. has a twelve month low of $42.94 and a twelve month high of $98.15. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.07. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.83 billion. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Research analysts anticipate that Howmet Aerospace Inc. will post 2.59 EPS for the current year.

Howmet Aerospace Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 9th were issued a dividend of $0.08 per share. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. This represents a $0.32 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Friday, August 9th. Howmet Aerospace’s dividend payout ratio is currently 15.46%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HWM shares. KeyCorp upped their price objective on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Royal Bank of Canada upped their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Barclays upped their target price on shares of Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Truist Financial upped their target price on shares of Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.67.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of the sale, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at $14,982,938.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of the sale, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at $14,982,938.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the sale, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The disclosure for this sale can be found here. 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.