Howmet Aerospace Inc. (NYSE:HWM) Stake Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 12.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,541 shares of the company’s stock after acquiring an additional 6,587 shares during the period. CIBC Asset Management Inc’s holdings in Howmet Aerospace were worth $5,969,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HWM. OneDigital Investment Advisors LLC lifted its stake in shares of Howmet Aerospace by 2.4% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 5,260 shares of the company’s stock valued at $527,000 after purchasing an additional 124 shares during the last quarter. ING Groep NV lifted its stake in shares of Howmet Aerospace by 51.1% in the 3rd quarter. ING Groep NV now owns 104,086 shares of the company’s stock valued at $10,435,000 after purchasing an additional 35,206 shares during the last quarter. Metis Global Partners LLC lifted its stake in shares of Howmet Aerospace by 31.5% in the 3rd quarter. Metis Global Partners LLC now owns 16,095 shares of the company’s stock valued at $1,614,000 after purchasing an additional 3,857 shares during the last quarter. Curi RMB Capital LLC acquired a new stake in shares of Howmet Aerospace in the 3rd quarter valued at $214,000. Finally, Planning Capital Management Corp acquired a new stake in shares of Howmet Aerospace in the 3rd quarter valued at $51,000. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Howmet Aerospace Stock Performance

NYSE HWM opened at $112.01 on Monday. The stock has a market cap of $45.51 billion, a P/E ratio of 42.75, a PEG ratio of 1.50 and a beta of 1.46. The company’s 50-day simple moving average is $102.37 and its 200 day simple moving average is $91.29. Howmet Aerospace Inc. has a twelve month low of $51.22 and a twelve month high of $116.74. The company has a quick ratio of 0.98, a current ratio of 2.24 and a debt-to-equity ratio of 0.76.

Howmet Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 8th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.29%. Howmet Aerospace’s payout ratio is currently 12.21%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. KeyCorp lowered shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Bank of America boosted their target price on shares of Howmet Aerospace from $100.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their target price on shares of Howmet Aerospace from $113.00 to $129.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Howmet Aerospace has a consensus rating of “Moderate Buy” and a consensus target price of $115.41.

Insider Activity at Howmet Aerospace

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the sale, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This represents a 49.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 92,687 shares in the company, valued at $8,985,077.78. This represents a 43.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.

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.