State Of New Jersey Common Pension Fund D sells 75,588 shares of Howmet Aerospace Inc. (NYSE:HWM)

VaselineSeptember 15, 2024

0 4 minutes read

State of New Jersey Common Pension Fund D reduced its stake in Howmet Aerospace Inc. (NYSE:HWM – Free Report) by 34.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,932 shares of the company’s stock after selling 75,588 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Howmet Aerospace were worth $10,941,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. MGO One Seven LLC increased its position in Howmet Aerospace by 75.7% in the second quarter. MGO One Seven LLC now owns 11,619 shares of the company’s stock worth $902,000 after buying an additional 5,006 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Howmet Aerospace by 9.4% during the second quarter. Daiwa Securities Group Inc. now owns 42,226 shares of the company’s stock worth $3,278,000 after acquiring an additional 3,618 shares during the period. Andra AP fonden increased its holdings in Howmet Aerospace by 3.0% in the 2nd quarter. Andra AP fonden now owns 47,600 shares of the company’s stock worth $3,695,000 after acquiring an additional 1,400 shares during the period . Royal London Asset Management Ltd. raised its holdings in Howmet Aerospace by 0.3% during the second quarter. Royal London Asset Management Ltd. now owns 148,167 shares of the company’s stock worth $11,502,000 after acquiring an additional 506 shares during the period. Finally, Choreo LLC raised its holdings in Howmet Aerospace by 18.6% during the 2nd quarter. Choreo LLC now owns 33,644 shares of the company’s stock worth $2,601,000 after acquiring an additional 5,271 shares during the period. actions during the period. Institutional investors own 90.46% of the company’s shares.

Howmet Aerospace price performance

Shares of NYSE HWM opened at $95.28 on Friday. The firm has a market cap of $38.89 billion, a PE ratio of 46.03, a PEG ratio of 1.41 and a beta of 1.46. The company has a current ratio of 1.53, a quick ratio of 0.74, and a debt-to-equity ratio of 0.68. Howmet Aerospace Inc. has a 1 year low of $42.94 and a 1 year high of $98.15. The company has a fifty day moving average price of $89.72 and a 200 day moving average price of $79.45.

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Howmet Aerospace (NYSE:HWM – Get Your Free Report ) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a net margin of 13.15% and a return on equity of 23.02%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the firm posted EPS of $0.44. The company’s revenue for the quarter was up 14.1% year over year. Research analysts predict that Howmet Aerospace Inc. will post 2.59 earnings per share for the current fiscal year.

Howmet Aerospace Raises Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 9th were given a dividend of $0.08 per share. The ex-dividend date was Friday, August 9. This is a boost from Howmet Aerospace’s previous quarterly dividend of $0.05. This represents an annualized dividend of $0.32 and a yield of 0.34%. Howmet Aerospace’s payout ratio is 15.46%.

Analysts set new price targets

A number of research firms have commented on HWM. KeyCorp raised their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. BTIG Research raised their target price on shares of Howmet Aerospace from $95.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Northcoast Research reaffirmed a “sell” rating and set a $70.00 target price on shares of Howmet Aerospace in a report on Friday, June 14th. JPMorgan Chase & Co. boosted their target price on shares of Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada upped their target price on shares of Howmet Aerospace from $90.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Moderate Buy” and an average price target of $90.67, according to MarketBeat.

Check out our latest report on Howmet Aerospace

Insiders place their bets

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the business’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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Also, 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 completion of the sale, the chief financial officer now directly owns 155,135 shares in the company, valued at $14,982,938.30. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s shares.

About Howmet Aerospace

(Free Report)

Howmet Aerospace Inc provides advanced engineering 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, Fasteners, Engineered Structures and Forged Wheels.