54,185 Shares in Howmet Aerospace Inc. (NYSE:HWM) Purchased by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. bought a new stake in Howmet Aerospace Inc. (NYSE:HWM) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 54,185 shares of the company’s stock, valued at approximately $4,206,000. Howmet Aerospace accounts for about 1.7% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 16th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in HWM. Vanguard Group Inc. grew its position in Howmet Aerospace by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 45,247,674 shares of the company’s stock valued at $2,448,804,000 after acquiring an additional 1,274,974 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Howmet Aerospace by 18.7% in the 1st quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock valued at $1,223,358,000 after purchasing an additional 2,813,911 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Howmet Aerospace by 28.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock valued at $966,959,000 after buying an additional 3,158,186 shares in the last quarter. Norges Bank acquired a new stake in Howmet Aerospace in the fourth quarter valued at approximately $508,006,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Howmet Aerospace by 15.1% during the first quarter. Bank of New York Mellon Corp now owns 6,184,692 shares of the company’s stock worth $423,218,000 after buying an additional 810,681 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Stock Performance

HWM stock opened at $95.14 on Tuesday. Howmet Aerospace Inc. has a 1-year low of $42.94 and a 1-year high of $98.15. The company has a current ratio of 1.53, a quick ratio of 0.74 and a debt-to-equity ratio of 0.68. The stock has a 50-day moving average price of $90.02 and a 200-day moving average price of $79.74. The firm has a market cap of $38.83 billion, a PE ratio of 45.96, a price-to-earnings-growth ratio of 1.41 and a beta of 1.46.

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

Howmet Aerospace Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HWM. Northcoast Research reiterated a “sell” rating and issued a $70.00 price target on shares of Howmet Aerospace in a research note on Friday, June 14th. Truist Financial lifted their price target on Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. BTIG Research raised their price objective on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 5th. Benchmark lifted their target price on shares of Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. Finally, Robert W. Baird upped their price target on shares of Howmet Aerospace from $84.00 to $113.00 and gave the company an “outperform” rating in a research report 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.67.

Insider Activity

In related news, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value 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 approximately $14,982,938.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction on Friday, August 23rd. The stock was 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 directly owns 92,687 shares in the company, valued at approximately $8,985,077.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

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.