Massmutual Trust Co. FSB ADV Raises Stake in Howmet Aerospace Inc. (NYSE:HWM)

Massmutual Trust Co. FSB ADV boosted its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM) by 13.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,820 shares of the company’s stock after acquiring an additional 217 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Howmet Aerospace were worth $141,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Howmet Aerospace during the fourth quarter valued at approximately $508,006,000. Price T Rowe Associates Inc. MD increased its stake in shares of Howmet Aerospace by 28.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock worth $966,959,000 after purchasing an additional 3,158,186 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Howmet Aerospace by 18.7% in the first quarter. JPMorgan Chase & Co. now owns 17,877,503 shares of the company’s stock worth $1,223,358,000 after purchasing an additional 2,813,911 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Howmet Aerospace by 986.0% in the first quarter. TD Asset Management Inc now owns 2,697,449 shares of the company’s stock worth $184,586,000 after purchasing an additional 2,449,057 shares in the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of Howmet Aerospace in the first quarter worth $148,996,000. 90.46% of the stock is owned by hedge funds and other institutional investors.

Howmet Aerospace Stock Down 3.8 %

Howmet Aerospace stock traded down $3.39 during mid-day trading on Monday, hitting $86.77. The company had a trading volume of 6,636,678 shares, compared to its average volume of 3,272,865. The stock has a market cap of $35.42 billion, a price-to-earnings ratio of 42.12, a PEG ratio of 1.58 and a beta of 1.45. Howmet Aerospace Inc. has a 1 year low of $42.94 and a 1 year high of $97.29. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average of $81.98 and a 200 day moving average of $72.28.

Howmet Aerospace (NYSE:HWM) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. Howmet Aerospace had a return on equity of 23.02% and a net margin of 13.15%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 earnings per share. On average, sell-side analysts expect that Howmet Aerospace Inc. will post 2.6 earnings per share for the current fiscal year.

Howmet Aerospace Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be issued a $0.08 dividend. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.05. This represents a $0.32 annualized dividend and a dividend yield of 0.37%. The ex-dividend date is Friday, August 9th. Howmet Aerospace’s dividend payout ratio is presently 15.46%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HWM. Truist Financial increased their price objective on shares of Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Argus upped their target price on shares of Howmet Aerospace from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Royal Bank of Canada upped their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. KeyCorp upped their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Benchmark upped their target price on shares of Howmet Aerospace from $53.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Howmet Aerospace presently has a consensus rating of “Moderate Buy” and an average target price of $89.67.

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.