Asahi Life Asset Management CO. LTD. Cuts Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Asahi Life Asset Management CO. LTD. lowered its stake in Howmet Aerospace Inc. (NYSE:HWM) by 5.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,180 shares of the company’s stock after selling 220 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Howmet Aerospace were worth $419,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in shares of Howmet Aerospace by 18.7% in the 1st quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock worth $1,223,358,000 after buying an additional 2,813,911 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Howmet Aerospace by 28.8% during 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 purchasing an additional 3,158,186 shares during the period. Lone Pine Capital LLC bought a new stake in shares of Howmet Aerospace in the 2nd quarter valued at approximately $284,539,000. TD Asset Management Inc boosted its holdings in shares of Howmet Aerospace by 16.9% in the 2nd quarter. TD Asset Management Inc now owns 3,152,629 shares of the company’s stock worth $244,739,000 after purchasing an additional 455,180 shares during the period. Finally, Capital Research Global Investors bought a new position in shares of Howmet Aerospace during the 1st quarter valued at approximately $148,996,000. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Up 0.1 %

Shares of Howmet Aerospace stock traded up $0.09 on Monday, reaching $101.48. The stock had a trading volume of 328,402 shares, compared to its average volume of 2,950,386. Howmet Aerospace Inc. has a 1 year low of $43.19 and a 1 year high of $106.93. The company has a 50 day moving average price of $98.79 and a 200 day moving average price of $86.76. 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 stock has a market capitalization of $41.42 billion, a P/E ratio of 48.98, a P/E/G ratio of 1.51 and a beta of 1.46.

Howmet Aerospace (NYSE:HWM) last announced its 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. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the company posted $0.44 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts forecast that Howmet Aerospace Inc. will post 2.59 EPS for the current year.

Howmet Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 15.46%.

Analyst Upgrades and Downgrades

Several research analysts have commented on HWM shares. Truist Financial lifted their price objective on shares of Howmet Aerospace from $105.00 to $123.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Barclays upped their price target on shares of Howmet Aerospace from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price target on Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Benchmark upped their price objective on Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.50.

Insider Buying and Selling

In other news, CFO Ken Giacobbe sold 154,909 shares of the firm’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 transaction, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 92,687 shares of the company’s stock, valued at $8,985,077.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total value of $14,961,111.22. Following the transaction, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.