Desjardins Global Asset Management Inc. Reduces Stake in Howmet Aerospace Inc. (NYSE:HWM)

Desjardins Global Asset Management Inc. lowered its stake in Howmet Aerospace Inc. (NYSE:HWM) by 74.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,314 shares of the company’s stock after selling 91,789 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Howmet Aerospace were worth $1,749,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HWM. SVB Wealth LLC boosted its position in shares of Howmet Aerospace by 14.3% during the fourth quarter. SVB Wealth LLC now owns 5,891 shares of the company’s stock valued at $319,000 after buying an additional 738 shares during the period. Cullen Investment Group LTD. bought a new position in Howmet Aerospace in the fourth quarter worth approximately $703,000. Louisiana State Employees Retirement System bought a new position in Howmet Aerospace in the fourth quarter worth approximately $1,283,000. Simplicity Solutions LLC grew its stake in Howmet Aerospace by 7.1% in the fourth quarter. Simplicity Solutions LLC now owns 4,922 shares of the company’s stock worth $266,000 after purchasing an additional 326 shares in the last quarter. Finally, Clarius Group LLC bought a new position in Howmet Aerospace in the fourth quarter worth approximately $209,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Price Performance

Shares of HWM opened at $64.03 on Wednesday. The business’s 50-day moving average is $65.44 and its two-hundred day moving average is $56.19. The company has a market capitalization of $26.15 billion, a P/E ratio of 34.99, a P/E/G ratio of 1.65 and a beta of 1.43. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.87 and a current ratio of 1.86. Howmet Aerospace Inc. has a fifty-two week low of $42.17 and a fifty-two week high of $69.55.

Howmet Aerospace (NYSE:HWM) last posted its earnings results on Tuesday, February 13th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.06. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm earned $0.38 EPS. The company’s quarterly revenue was up 14.4% on a year-over-year basis. Research analysts predict that Howmet Aerospace Inc. will post 2.18 earnings per share for the current year.

Howmet Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Friday, February 9th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend was Thursday, February 8th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 10.93%.

Insider Activity

In related 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 approximately $15,482,065.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Robert W. Baird increased their price objective on Howmet Aerospace from $65.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. upped their target price on Howmet Aerospace from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Sanford C. Bernstein began coverage on Howmet Aerospace in a report on Friday, January 5th. They set an “outperform” rating and a $67.00 target price for the company. Barclays upped their target price on Howmet Aerospace from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. Finally, UBS Group upped their target price on Howmet Aerospace from $57.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $66.00.

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.