NEOS Investment Management LLC Makes New Investment in Howmet Aerospace Inc. (NYSE:HWM)

NEOS Investment Management LLC acquired a new stake in Howmet Aerospace Inc. (NYSE:HWMFree Report) in the fourth quarter, HoldingsChannel reports. The fund acquired 5,526 shares of the company’s stock, valued at approximately $299,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. TFG Advisers LLC acquired a new position in shares of Howmet Aerospace during the 4th quarter worth approximately $230,000. California State Teachers Retirement System increased its stake in shares of Howmet Aerospace by 6.3% in the fourth quarter. California State Teachers Retirement System now owns 679,750 shares of the company’s stock valued at $36,788,000 after buying an additional 40,308 shares during the period. Alpha DNA Investment Management LLC acquired a new position in Howmet Aerospace in the 4th quarter valued at approximately $801,000. Bank of Nova Scotia raised its position in Howmet Aerospace by 380.6% during the 4th quarter. Bank of Nova Scotia now owns 253,141 shares of the company’s stock worth $13,700,000 after purchasing an additional 200,472 shares during the last quarter. Finally, Atalanta Sosnoff Capital LLC increased its position in Howmet Aerospace by 24.7% during the 4th quarter. Atalanta Sosnoff Capital LLC now owns 17,335 shares of the company’s stock valued at $938,000 after purchasing an additional 3,430 shares during the period. 90.46% of the stock is owned by institutional investors.

Howmet Aerospace Stock Performance

NYSE HWM opened at $84.63 on Thursday. The company’s 50 day simple moving average is $74.00 and its two-hundred day simple moving average is $63.87. The stock has a market capitalization of $34.54 billion, a PE ratio of 40.88, a P/E/G ratio of 1.56 and a beta of 1.50. 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 Inc. has a 1 year low of $42.94 and a 1 year high of $85.52.

Howmet Aerospace (NYSE:HWMGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the company earned $0.42 earnings per share. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. Analysts predict that Howmet Aerospace Inc. will post 2.39 earnings per share for the current fiscal year.

Howmet Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Friday, May 10th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date was Thursday, May 9th. Howmet Aerospace’s payout ratio is presently 9.66%.

Wall Street Analysts Forecast Growth

HWM has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of Howmet Aerospace from $74.00 to $84.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Truist Financial boosted their price target on shares of Howmet Aerospace from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. KeyCorp raised their price target on shares of Howmet Aerospace from $70.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, May 28th. Barclays boosted their price objective on Howmet Aerospace from $65.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Finally, UBS Group raised their price objective on Howmet Aerospace from $57.00 to $66.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

Read Our Latest Report on Howmet Aerospace

Insider Buying and Selling

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 32,614 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $84.26, for a total transaction of $2,748,055.64. Following the completion of the sale, the executive vice president now owns 217,687 shares of the company’s stock, valued at approximately $18,342,306.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.12% of the stock is owned by corporate insiders.

Howmet Aerospace Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Howmet Aerospace (NYSE:HWM)

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