CIBC Private Wealth Group LLC Purchases 419,884 Shares of Howmet Aerospace Inc. (NYSE:HWM)

CIBC Private Wealth Group LLC increased its position in shares of Howmet Aerospace Inc. (NYSE:HWMFree Report) by 24.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,129,945 shares of the company’s stock after buying an additional 419,884 shares during the period. CIBC Private Wealth Group LLC owned 0.52% of Howmet Aerospace worth $115,273,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of HWM. Headinvest LLC bought a new position in Howmet Aerospace during the third quarter worth $30,000. Lindbrook Capital LLC grew its holdings in Howmet Aerospace by 34.4% in the fourth quarter. Lindbrook Capital LLC now owns 894 shares of the company’s stock worth $48,000 after purchasing an additional 229 shares during the period. Quadrant Capital Group LLC grew its holdings in Howmet Aerospace by 62.9% in the fourth quarter. Quadrant Capital Group LLC now owns 976 shares of the company’s stock worth $53,000 after purchasing an additional 377 shares during the period. Blue Trust Inc. grew its holdings in Howmet Aerospace by 33.1% in the fourth quarter. Blue Trust Inc. now owns 1,089 shares of the company’s stock worth $59,000 after purchasing an additional 271 shares during the period. Finally, Huntington National Bank grew its holdings in Howmet Aerospace by 24.5% in the third quarter. Huntington National Bank now owns 1,315 shares of the company’s stock worth $61,000 after purchasing an additional 259 shares during the period. Institutional investors own 90.46% of the company’s stock.

Howmet Aerospace Stock Performance

Shares of NYSE HWM traded down $2.34 during midday trading on Tuesday, hitting $82.29. The company’s stock had a trading volume of 2,458,851 shares, compared to its average volume of 3,286,747. The stock has a fifty day moving average price of $73.67 and a 200 day moving average price of $63.72. Howmet Aerospace Inc. has a one year low of $42.94 and a one year high of $85.52. The company has a current ratio of 1.97, a quick ratio of 0.92 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $33.59 billion, a price-to-earnings ratio of 39.75, a P/E/G ratio of 1.56 and a beta of 1.50.

Howmet Aerospace (NYSE:HWMGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, research analysts forecast that Howmet Aerospace Inc. will post 2.39 EPS for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Friday, May 10th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Thursday, May 9th. Howmet Aerospace’s dividend payout ratio (DPR) is currently 9.66%.

Insider Buying and Selling

In related news, EVP Neil Edward Marchuk sold 32,614 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 217,687 shares of the company’s stock, valued at approximately $18,342,306.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HWM shares. Robert W. Baird raised their price target on shares of Howmet Aerospace from $74.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Argus raised their price target on shares of Howmet Aerospace from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, May 6th. The Goldman Sachs Group lifted their price objective on shares of Howmet Aerospace from $77.00 to $87.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Wells Fargo & Company lifted their price objective on shares of Howmet Aerospace from $72.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Finally, Truist Financial lifted their price objective on shares of Howmet Aerospace from $74.00 to $88.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $75.00.

Read Our Latest Research Report on HWM

Howmet Aerospace Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Howmet Aerospace (NYSE:HWM)

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