Axxcess Wealth Management LLC Acquires Shares of 6,990 Howmet Aerospace Inc. (NYSE:HWM)

Axxcess Wealth Management LLC bought a new position in Howmet Aerospace Inc. (NYSE:HWM) in the fourth quarter, HoldingsChannel reports. The firm bought 6,990 shares of the company’s stock, valued at approximately $378,000.

Several other large investors have also recently modified their holdings of HWM. Venturi Wealth Management LLC increased its position in Howmet Aerospace by 61.3% during the third quarter. Venturi Wealth Management LLC now owns 558 shares of the company’s stock valued at $26,000 after acquiring an additional 212 shares during the last quarter. Headinvest LLC bought a new stake in Howmet Aerospace in the third quarter worth about $30,000. Lindbrook Capital LLC boosted its position in shares of Howmet Aerospace by 34.4% during the fourth quarter. Lindbrook Capital LLC now owns 894 shares of the company’s stock valued at $48,000 after buying an additional 229 shares during the period. Blue Trust Inc. grew its stake in shares of Howmet Aerospace by 33.1% during the fourth quarter. Blue Trust Inc. now owns 1,089 shares of the company’s stock valued at $59,000 after buying an additional 271 shares during the last quarter. Finally, Huntington National Bank lifted its stake in shares of Howmet Aerospace by 24.5% during the 3rd quarter. Huntington National Bank now owns 1,315 shares of the company’s stock worth $61,000 after acquiring an additional 259 shares during the last quarter. Institutional investors own 90.46% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were 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 $15,482,065.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on HWM. UBS Group boosted their price objective on shares of Howmet Aerospace from $57.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Argus raised their price objective on Howmet Aerospace from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday. KeyCorp raised their target price on shares of Howmet Aerospace from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. Royal Bank of Canada increased their price objective on shares of Howmet Aerospace from $75.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Truist Financial raised their price target on shares of Howmet Aerospace from $74.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.67.

Howmet Aerospace Trading Up 2.0 %

Shares of HWM stock opened at $81.42 on Thursday. The stock has a 50 day simple moving average of $67.26 and a 200-day simple moving average of $58.67. Howmet Aerospace Inc. has a 1-year low of $42.17 and a 1-year high of $81.47. The company has a market cap of $33.23 billion, a price-to-earnings ratio of 39.33, a PEG ratio of 1.89 and a beta of 1.41. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.97 and a quick ratio of 0.92.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. On average, equities research analysts expect that Howmet Aerospace Inc. will post 2.37 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. Howmet Aerospace’s payout ratio is currently 9.66%.

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.