Lazard Asset Management LLC Sells 3,480 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Lazard Asset Management LLC trimmed its holdings in Howmet Aerospace Inc. (NYSE:HWM) by 33.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 6,879 shares of the company’s stock after selling 3,480 shares during the quarter. Lazard Asset Management LLC’s holdings in Howmet Aerospace were worth $752,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of HWM. Murphy & Mullick Capital Management Corp bought a new position in Howmet Aerospace in the fourth quarter worth approximately $25,000. Meeder Asset Management Inc. increased its stake in shares of Howmet Aerospace by 208.1% in the 4th quarter. Meeder Asset Management Inc. now owns 228 shares of the company’s stock worth $25,000 after purchasing an additional 154 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in Howmet Aerospace in the 4th quarter worth $25,000. R Squared Ltd purchased a new position in Howmet Aerospace during the fourth quarter valued at $26,000. Finally, Washington Trust Advisors Inc. purchased a new position in Howmet Aerospace during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Performance

NYSE:HWM opened at $164.94 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74. Howmet Aerospace Inc. has a fifty-two week low of $76.83 and a fifty-two week high of $166.50. The company has a market cap of $66.58 billion, a P/E ratio of 58.49, a P/E/G ratio of 1.92 and a beta of 1.37. The firm’s 50 day moving average is $136.50 and its two-hundred day moving average is $125.88.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. Howmet Aerospace had a net margin of 15.55% and a return on equity of 25.74%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. Analysts expect that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.40 annualized dividend and a dividend yield of 0.24%. Howmet Aerospace’s payout ratio is 13.03%.

Analysts Set New Price Targets

Several research firms have weighed in on HWM. Northcoast Research upgraded Howmet Aerospace from a “sell” rating to a “neutral” rating in a report on Wednesday, April 9th. JPMorgan Chase & Co. lifted their price target on shares of Howmet Aerospace from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Barclays increased their price objective on shares of Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group raised their price target on Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, Truist Financial cut their price objective on Howmet Aerospace from $140.00 to $136.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.53.

Insider Activity

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $158.53, for a total value of $4,755,900.00. Following the transaction, the executive vice president now owns 131,859 shares in the company, valued at approximately $20,903,607.27. This represents a 18.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Barbara Lou Shultz sold 1,250 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $155.17, for a total transaction of $193,962.50. Following the completion of the transaction, the vice president now directly owns 23,044 shares in the company, valued at $3,575,737.48. This trade represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 831,250 shares of company stock valued at $130,517,863. Company insiders own 1.04% 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.