Fifth Third Bancorp Buys 1,716 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Fifth Third Bancorp grew its stake in Howmet Aerospace Inc. (NYSE:HWM) by 15.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,777 shares of the company’s stock after purchasing an additional 1,716 shares during the quarter. Fifth Third Bancorp’s holdings in Howmet Aerospace were worth $1,658,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new position in shares of Howmet Aerospace in the 4th quarter worth about $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 acquiring an additional 154 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Howmet Aerospace in the 4th quarter worth about $25,000. Washington Trust Advisors Inc. bought a new position in shares of Howmet Aerospace in the 4th quarter worth about $29,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Howmet Aerospace in the 4th quarter worth about $30,000. 90.46% of the stock is currently owned by institutional investors.

Insider Transactions at Howmet Aerospace

In other news, VP Barbara Lou Shultz sold 1,250 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $155.17, for a total value of $193,962.50. Following the transaction, the vice president now owns 23,044 shares in the company, valued at $3,575,737.48. This represents a 5.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John C. Plant sold 800,000 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $156.96, for a total transaction of $125,568,000.00. Following the sale, the chief executive officer now owns 236,544 shares in the company, valued at approximately $37,127,946.24. The trade was a 77.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 831,250 shares of company stock worth $130,517,863 in the last quarter. Company insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HWM. Barclays increased their price target on shares of Howmet Aerospace from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Wells Fargo & Company increased their price objective on shares of Howmet Aerospace from $118.00 to $145.00 and gave the company an “equal weight” rating in a research report on Friday, May 2nd. BTIG Research reissued a “buy” rating on shares of Howmet Aerospace in a research report on Monday, May 5th. Royal Bank of Canada increased their price objective on shares of Howmet Aerospace from $165.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, June 9th. Finally, Truist Financial increased their price objective on shares of Howmet Aerospace from $161.00 to $192.00 and gave the company a “buy” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Howmet Aerospace presently has an average rating of “Moderate Buy” and an average target price of $142.13.

Howmet Aerospace Stock Performance

Shares of NYSE HWM opened at $170.91 on Monday. The firm’s 50-day moving average price is $151.46 and its 200-day moving average price is $133.06. The company has a quick ratio of 0.98, a current ratio of 2.17 and a debt-to-equity ratio of 0.74. The company has a market cap of $68.99 billion, a PE ratio of 60.61, a PEG ratio of 1.92 and a beta of 1.44. Howmet Aerospace Inc. has a 52-week low of $76.83 and a 52-week high of $177.25.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $1.94 billion. During the same quarter in the prior year, the business earned $0.53 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, analysts anticipate that Howmet Aerospace Inc. will post 3.27 EPS for the current year.

Howmet Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Friday, May 9th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Friday, May 9th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 13.03%.

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.