Prosperity Consulting Group LLC Acquires New Shares in Howmet Aerospace Inc. (NYSE:HWM)

Prosperity Consulting Group LLC acquired a new stake in Howmet Aerospace Inc. (NYSE:HWM) in the second quarter, according to its most recent filing with the SEC. The fund acquired 4,958 shares of the company’s stock, valued at approximately $385,000.

A number of other hedge funds have also bought and sold shares of HWM. Cultivar Capital Inc. purchased a new position in Howmet Aerospace in the 2nd quarter valued at approximately $26,000. LGT Financial Advisors LLC boosted its holdings in Howmet Aerospace by 278.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock valued at $28,000 after purchasing an additional 262 shares during the period. Rothschild Investment LLC bought a new position in Howmet Aerospace in the 2nd quarter valued at $32,000. Versant Capital Management Inc boosted its holdings in Howmet Aerospace by 1,209.1% in the 2nd quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock valued at $34,000 after purchasing an additional 399 shares during the period. Finally, Whittier Trust Co. boosted its holdings in Howmet Aerospace by 81.4% in the 1st quarter. Whittier Trust Co. now owns 508 shares of the company’s stock valued at $35,000 after purchasing an additional 228 shares during the period. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the transaction, the executive vice president now owns 92,687 shares in the company, valued at $8,985,077.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 92,687 shares in the company, valued at $8,985,077.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.

Howmet Aerospace Stock Performance

Howmet Aerospace stock opened at $95.28 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $38.89 billion, a PE ratio of 46.03, a P/E/G ratio of 1.41 and a beta of 1.46. The firm has a fifty day simple moving average of $89.72 and a two-hundred day simple moving average of $79.45. Howmet Aerospace Inc. has a twelve month low of $42.94 and a twelve month high of $98.15.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the firm posted $0.44 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts expect that Howmet Aerospace Inc. will post 2.59 EPS for the current year.

Howmet Aerospace Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on HWM. Royal Bank of Canada raised their price target on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Benchmark raised their price target on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 12th. Robert W. Baird raised their price target on shares of Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Barclays lifted their price objective on shares of Howmet Aerospace from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Truist Financial lifted their price objective on shares of Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.67.

Howmet Aerospace Company 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.