Simplicity Wealth LLC Purchases Shares of 5,080 Howmet Aerospace Inc. (NYSE:HWM)

Simplicity Wealth LLC purchased a new position in shares of Howmet Aerospace Inc. (NYSE:HWM) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,080 shares of the company’s stock, valued at approximately $348,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Avitas Wealth Management LLC lifted its position in Howmet Aerospace by 1.0% during the 1st quarter. Avitas Wealth Management LLC now owns 24,207 shares of the company’s stock worth $1,656,000 after buying an additional 242 shares in the last quarter. Covenant Asset Management LLC bought a new stake in Howmet Aerospace during the 1st quarter worth about $3,402,000. New Mexico Educational Retirement Board lifted its position in Howmet Aerospace by 3.1% during the 1st quarter. New Mexico Educational Retirement Board now owns 19,709 shares of the company’s stock worth $1,349,000 after buying an additional 600 shares in the last quarter. Fifth Third Bancorp lifted its position in Howmet Aerospace by 5.4% during the 1st quarter. Fifth Third Bancorp now owns 10,804 shares of the company’s stock worth $739,000 after buying an additional 549 shares in the last quarter. Finally, Summit Trail Advisors LLC bought a new stake in Howmet Aerospace during the 1st quarter worth about $205,000. 90.46% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the transaction, the executive vice president now 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.12% of the company’s stock.

Howmet Aerospace Price Performance

Shares of NYSE HWM traded down $1.32 during trading hours on Wednesday, hitting $83.47. 2,659,291 shares of the stock were exchanged, compared to its average volume of 3,361,278. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 1.97. The company has a market cap of $34.07 billion, a PE ratio of 40.32, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. The company’s fifty day simple moving average is $70.61 and its two-hundred day simple moving average is $61.48. Howmet Aerospace Inc. has a 1-year low of $42.17 and a 1-year high of $84.87.

Howmet Aerospace (NYSE:HWM) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.52 by $0.05. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.74 billion. Howmet Aerospace had a net margin of 12.53% and a return on equity of 21.33%. The firm’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, sell-side analysts predict that Howmet Aerospace Inc. will post 2.39 EPS for the current year.

Howmet Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Friday, May 10th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Thursday, May 9th. Howmet Aerospace’s payout ratio is 9.66%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Benchmark reiterated a “buy” rating and issued a $53.00 price target on shares of Howmet Aerospace in a research note on Friday, April 19th. The Goldman Sachs Group upped their price target on shares of Howmet Aerospace from $77.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. KeyCorp upped their price target on shares of Howmet Aerospace from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. Robert W. Baird increased their target price 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. Finally, Wells Fargo & Company increased their target price on shares of Howmet Aerospace from $72.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $73.67.

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.