Chapin Davis Inc. Takes Position in Howmet Aerospace Inc. (NYSE:HWM)

Chapin Davis Inc. purchased a new position in Howmet Aerospace Inc. (NYSE:HWM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,913 shares of the company’s stock, valued at approximately $2,400,000. Howmet Aerospace accounts for about 0.8% of Chapin Davis Inc.’s investment portfolio, making the stock its 25th biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. 1858 Wealth Management LLC purchased a new stake in Howmet Aerospace during the second quarter valued at about $219,000. Blue Trust Inc. lifted its position in Howmet Aerospace by 83.0% in the 2nd quarter. Blue Trust Inc. now owns 1,691 shares of the company’s stock worth $131,000 after buying an additional 767 shares during the last quarter. Physician Wealth Advisors Inc. bought a new stake in Howmet Aerospace in the 2nd quarter worth approximately $206,000. Cigna Investments Inc. New boosted its stake in Howmet Aerospace by 3.8% in the second quarter. Cigna Investments Inc. New now owns 4,178 shares of the company’s stock worth $324,000 after buying an additional 153 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in Howmet Aerospace by 121.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,169 shares of the company’s stock valued at $1,721,000 after acquiring an additional 12,170 shares during the last quarter. Hedge funds and other institutional investors own 90.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HWM. Wells Fargo & Company lifted their price target on Howmet Aerospace from $72.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Benchmark upped their price target on shares of Howmet Aerospace from $53.00 to $85.00 and gave the company a “buy” rating in a report on Friday, July 12th. KeyCorp raised their price target on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Truist Financial boosted their price target on Howmet Aerospace from $88.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. increased their price objective on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, one has issued 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 a consensus price target of $90.67.

Insiders Place Their Bets

In other Howmet Aerospace news, EVP Neil Edward Marchuk sold 32,614 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $84.26, for a total transaction of $2,748,055.64. Following the transaction, the executive vice president now owns 217,687 shares in the company, valued at $18,342,306.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.12% of the stock is owned by insiders.

Howmet Aerospace Price Performance

NYSE HWM traded up $0.24 during trading hours on Friday, reaching $95.82. The company’s stock had a trading volume of 1,350,979 shares, compared to its average volume of 3,223,622. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.68. Howmet Aerospace Inc. has a 1 year low of $42.94 and a 1 year high of $97.29. The firm’s 50-day moving average price is $83.56 and its 200-day moving average price is $74.83. The company has a market capitalization of $39.11 billion, a price-to-earnings ratio of 46.29, a PEG ratio of 1.58 and a beta of 1.45.

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

Howmet Aerospace Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Friday, August 9th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.33%. This is a positive change from Howmet Aerospace’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, August 9th. Howmet Aerospace’s dividend payout ratio (DPR) is presently 15.46%.

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.