State of Alaska Department of Revenue Has $2.83 Million Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

State of Alaska Department of Revenue trimmed its position in Howmet Aerospace Inc. (NYSE:HWM) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,207 shares of the company’s stock after selling 4,025 shares during the quarter. State of Alaska Department of Revenue’s holdings in Howmet Aerospace were worth $2,825,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HWM. US Bancorp DE increased its stake in shares of Howmet Aerospace by 9.7% in the 1st quarter. US Bancorp DE now owns 20,717 shares of the company’s stock valued at $745,000 after purchasing an additional 1,834 shares during the last quarter. HighTower Advisors LLC grew its position in Howmet Aerospace by 299.5% in the first quarter. HighTower Advisors LLC now owns 31,892 shares of the company’s stock valued at $1,147,000 after acquiring an additional 23,910 shares during the last quarter. Panagora Asset Management Inc. raised its stake in Howmet Aerospace by 2.2% during the first quarter. Panagora Asset Management Inc. now owns 31,230 shares of the company’s stock worth $1,122,000 after acquiring an additional 663 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Howmet Aerospace by 5.2% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 50,781 shares of the company’s stock worth $1,825,000 after acquiring an additional 2,520 shares during the last quarter. Finally, APG Asset Management N.V. boosted its stake in shares of Howmet Aerospace by 4.0% in the 1st quarter. APG Asset Management N.V. now owns 20,900 shares of the company’s stock valued at $675,000 after purchasing an additional 800 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HWM has been the subject of several research reports. Barclays increased their price objective 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. UBS Group raised their price objective on Howmet Aerospace from $57.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Sanford C. Bernstein began coverage on Howmet Aerospace in a research report on Friday, January 5th. They set an “outperform” rating and a $67.00 price objective on the stock. Royal Bank of Canada assumed coverage on Howmet Aerospace in a research report on Monday, March 18th. They issued an “outperform” rating and a $75.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target on Howmet Aerospace from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.33.

Howmet Aerospace Price Performance

Shares of HWM opened at $66.00 on Thursday. The business has a 50-day moving average of $63.89 and a 200-day moving average of $54.93. Howmet Aerospace Inc. has a 1 year low of $41.40 and a 1 year high of $69.55. The company has a market capitalization of $27.08 billion, a price-to-earnings ratio of 36.07, a price-to-earnings-growth ratio of 1.71 and a beta of 1.43. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.86 and a quick ratio of 0.87.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.06. Howmet Aerospace had a net margin of 11.52% and a return on equity of 20.12%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the business earned $0.38 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Howmet Aerospace Inc. will post 2.19 earnings per share for the current year.

Howmet Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, February 26th. Shareholders of record on Friday, February 9th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.30%. Howmet Aerospace’s dividend payout ratio (DPR) is currently 10.93%.

Insiders Place Their Bets

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $67.44, for a total value of $3,034,800.00. Following the transaction, the executive vice president now directly owns 229,568 shares of the company’s stock, valued at approximately $15,482,065.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.23% 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.