Prime Capital Investment Advisors LLC Acquires New Shares in Howmet Aerospace Inc. (NYSE:HWM)

Prime Capital Investment Advisors LLC acquired a new stake in Howmet Aerospace Inc. (NYSE:HWM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,001 shares of the company’s stock, valued at approximately $201,000.

A number of other large investors also recently added to or reduced their stakes in HWM. Cultivar Capital Inc. acquired a new position in Howmet Aerospace during the second quarter worth $26,000. LGT Financial Advisors LLC grew its holdings in shares of Howmet Aerospace by 278.7% during the second quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after purchasing an additional 262 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of Howmet Aerospace during the third quarter worth about $30,000. Rothschild Investment LLC purchased a new position in shares of Howmet Aerospace during the second quarter worth about $32,000. Finally, Versant Capital Management Inc grew its holdings in shares of Howmet Aerospace by 1,209.1% during the second quarter. Versant Capital Management Inc now owns 432 shares of the company’s stock worth $34,000 after buying an additional 399 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on HWM. Truist Financial raised their price objective on shares of Howmet Aerospace from $123.00 to $128.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays lifted their target price on shares of Howmet Aerospace from $100.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Sanford C. Bernstein lifted their target price on shares of Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. boosted their price objective on shares of Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, BTIG Research boosted their price objective on shares of Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Howmet Aerospace presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.41.

Insiders Place Their Bets

In other news, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value 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 approximately $8,985,077.78. This represents a 43.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of 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 disclosure for this sale can be found here. 1.12% of the stock is owned by insiders.

Howmet Aerospace Stock Performance

Shares of Howmet Aerospace stock opened at $112.01 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.98 and a current ratio of 2.24. Howmet Aerospace Inc. has a 1 year low of $51.22 and a 1 year high of $116.74. The firm’s 50-day simple moving average is $102.37 and its 200-day simple moving average is $91.29. The firm has a market cap of $45.51 billion, a PE ratio of 42.75, a price-to-earnings-growth ratio of 1.50 and a beta of 1.46.

Howmet Aerospace Dividend Announcement

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

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.