Gateway Investment Advisers LLC Acquires New Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Gateway Investment Advisers LLC acquired a new stake in shares of Howmet Aerospace Inc. (NYSE:HWM) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,771 shares of the company’s stock, valued at approximately $230,000.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Howmet Aerospace by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 47,117,309 shares of the company’s stock valued at $5,153,220,000 after buying an additional 352,256 shares during the period. JPMorgan Chase & Co. grew its holdings in Howmet Aerospace by 14.0% in the fourth quarter. JPMorgan Chase & Co. now owns 20,198,146 shares of the company’s stock worth $2,209,071,000 after purchasing an additional 2,486,649 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Howmet Aerospace by 0.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,213,937 shares of the company’s stock worth $1,445,210,000 after purchasing an additional 80,972 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Howmet Aerospace by 10.3% in the fourth quarter. Janus Henderson Group PLC now owns 10,947,354 shares of the company’s stock worth $1,197,315,000 after purchasing an additional 1,026,130 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Howmet Aerospace by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 9,810,797 shares of the company’s stock worth $1,070,267,000 after purchasing an additional 308,574 shares during the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Trading Down 1.4%

Shares of Howmet Aerospace stock opened at $172.88 on Tuesday. Howmet Aerospace Inc. has a 1 year low of $76.83 and a 1 year high of $177.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 2.17. The company has a market capitalization of $69.79 billion, a P/E ratio of 61.31, a PEG ratio of 1.92 and a beta of 1.44. The company’s fifty day moving average is $147.18 and its two-hundred day moving average is $131.55.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.86 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period in the previous year, the business posted $0.53 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. Analysts forecast that Howmet Aerospace Inc. will post 3.27 earnings per share for the current year.

Howmet Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 9th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date was Friday, May 9th. Howmet Aerospace’s dividend payout ratio is currently 13.03%.

Analyst Ratings Changes

Several research firms have issued reports on HWM. Northcoast Research raised shares of Howmet Aerospace from a “sell” rating to a “neutral” rating in a report on Wednesday, April 9th. Benchmark lifted their price target on shares of Howmet Aerospace from $85.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, April 21st. 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 report on Friday, February 14th. The Goldman Sachs Group lifted their price target on shares of Howmet Aerospace from $124.00 to $139.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Truist Financial cut their price target on shares of Howmet Aerospace from $140.00 to $136.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $134.59.

Insider Buying and Selling

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 30,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 131,859 shares of the company’s stock, valued at $20,903,607.27. This represents a 18.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John C. Plant sold 800,000 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the transaction, the chief executive officer now directly owns 236,544 shares in the company, valued at $37,127,946.24. The trade was a 77.18% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 831,250 shares of company stock valued at $130,517,863. Corporate insiders own 1.04% of the company’s stock.

Howmet Aerospace 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.