Sumitomo Life Insurance Co. Has $1.59 Million Stake in Howmet Aerospace Inc. (NYSE:HWM)

Sumitomo Life Insurance Co. boosted its position in Howmet Aerospace Inc. (NYSE:HWM) by 26.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,893 shares of the company’s stock after purchasing an additional 3,350 shares during the period. Sumitomo Life Insurance Co.’s holdings in Howmet Aerospace were worth $1,593,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its holdings in shares of Howmet Aerospace by 6.8% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,944 shares of the company’s stock worth $195,000 after purchasing an additional 124 shares during the last quarter. Cigna Investments Inc. New grew its holdings in Howmet Aerospace by 3.8% during the 2nd quarter. Cigna Investments Inc. New now owns 4,178 shares of the company’s stock worth $324,000 after acquiring an additional 153 shares during the last quarter. Bleakley Financial Group LLC increased its position in Howmet Aerospace by 3.2% in the 1st quarter. Bleakley Financial Group LLC now owns 5,080 shares of the company’s stock valued at $348,000 after acquiring an additional 158 shares during the period. HB Wealth Management LLC raised its stake in shares of Howmet Aerospace by 4.9% during the second quarter. HB Wealth Management LLC now owns 3,664 shares of the company’s stock valued at $284,000 after acquiring an additional 171 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Howmet Aerospace by 7.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,609 shares of the company’s stock worth $203,000 after purchasing an additional 178 shares during the period. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Price Performance

HWM opened at $105.31 on Thursday. Howmet Aerospace Inc. has a 1 year low of $42.94 and a 1 year high of $105.45. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.53 and a quick ratio of 0.74. The company has a market capitalization of $42.99 billion, a price-to-earnings ratio of 50.87, a P/E/G ratio of 1.51 and a beta of 1.46. The firm’s fifty day moving average price is $97.42 and its two-hundred day moving average price is $84.77.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the prior year, the firm posted $0.44 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. As a group, analysts anticipate that Howmet Aerospace Inc. will post 2.59 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 Monday, November 25th. Investors of record on Friday, November 8th will be issued a dividend of $0.08 per share. The ex-dividend date is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.30%. Howmet Aerospace’s dividend payout ratio (DPR) is currently 15.46%.

Analyst Ratings Changes

HWM has been the subject of several analyst reports. BTIG Research raised their target price on Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Truist Financial raised their price objective on Howmet Aerospace from $88.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Susquehanna assumed coverage on shares of Howmet Aerospace in a research report on Tuesday, October 8th. They set a “positive” rating and a $120.00 target price for the company. Benchmark boosted their price target 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. Finally, KeyCorp upped their target price on Howmet Aerospace from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $96.63.

Insiders Place Their Bets

In other news, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the sale, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at $8,985,077.78. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total value of $14,961,111.22. Following the completion of the transaction, the chief financial officer now owns 155,135 shares in the company, valued at approximately $14,982,938.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

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.