Victory Capital Management Inc. Sells 70,211 Shares of Howmet Aerospace Inc. (NYSE:HWM)

Victory Capital Management Inc. reduced its stake in Howmet Aerospace Inc. (NYSE:HWM) by 20.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 276,861 shares of the company’s stock after selling 70,211 shares during the period. Victory Capital Management Inc. owned 0.07% of Howmet Aerospace worth $14,984,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Accurate Wealth Management LLC bought a new position in Howmet Aerospace during the fourth quarter worth about $2,825,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Howmet Aerospace during the third quarter valued at approximately $1,697,000. QRG Capital Management Inc. bought a new stake in Howmet Aerospace in the third quarter valued at approximately $407,000. Cullen Investment Group LTD. bought a new position in shares of Howmet Aerospace during the fourth quarter worth $703,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of Howmet Aerospace by 4.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,020,155 shares of the company’s stock valued at $139,682,000 after buying an additional 114,939 shares during the period. 90.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HWM. UBS Group raised their price objective on Howmet Aerospace from $57.00 to $66.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. The Goldman Sachs Group boosted their price objective on Howmet Aerospace from $77.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. KeyCorp raised their target price on shares of Howmet Aerospace from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Truist Financial upped their price target 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. Finally, Robert W. Baird increased their price objective on shares of Howmet Aerospace from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $73.67.

Howmet Aerospace Stock Down 1.4 %

NYSE:HWM opened at $80.87 on Friday. Howmet Aerospace Inc. has a twelve month low of $42.17 and a twelve month high of $82.81. The firm has a market capitalization of $33.01 billion, a price-to-earnings ratio of 39.07, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. The company has a quick ratio of 0.92, a current ratio of 1.97 and a debt-to-equity ratio of 0.86. The stock’s 50 day moving average price is $67.86 and its two-hundred day moving average price is $58.99.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Thursday, May 2nd. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. Equities research analysts expect that Howmet Aerospace Inc. will post 2.39 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Thursday, May 9th. Howmet Aerospace’s payout ratio is currently 9.66%.

Insiders Place Their Bets

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $67.44, for a total value of $3,034,800.00. Following the completion of the sale, the executive vice president now directly owns 229,568 shares of the company’s stock, valued at $15,482,065.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.12% of the company’s stock.

Howmet Aerospace 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.