Bank of New York Mellon Corp Trims Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

Bank of New York Mellon Corp lowered its stake in shares of Howmet Aerospace Inc. (NYSE:HWM) by 2.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 7,404,828 shares of the company’s stock after selling 182,028 shares during the period. Bank of New York Mellon Corp’s holdings in Howmet Aerospace were worth $255,244,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Corsicana & Co. purchased a new position in shares of Howmet Aerospace during the 2nd quarter valued at about $25,000. Aspire Private Capital LLC purchased a new position in shares of Howmet Aerospace during the 1st quarter valued at about $26,000. KB Financial Partners LLC purchased a new position in shares of Howmet Aerospace in the 1st quarter valued at about $28,000. JTC Employer Solutions Trusteee Ltd purchased a new position in shares of Howmet Aerospace in the 2nd quarter valued at about $37,000. Finally, Arkadios Wealth Advisors purchased a new position in shares of Howmet Aerospace in the 2nd quarter valued at about $41,000. Institutional investors and hedge funds own 90.22% of the company’s stock.

Separately, Zacks Investment Research upgraded Howmet Aerospace from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Friday, August 6th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $33.80.

HWM stock opened at $31.53 on Friday. The stock has a market cap of $13.52 billion, a price-to-earnings ratio of 47.06 and a beta of 1.93. The business’s 50-day moving average is $31.94 and its 200 day moving average is $32.64. Howmet Aerospace Inc. has a 12-month low of $16.26 and a 12-month high of $36.03. The company has a current ratio of 2.28, a quick ratio of 1.09 and a debt-to-equity ratio of 1.19.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Tuesday, August 3rd. The company reported $0.22 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.22. Howmet Aerospace had a return on equity of 8.41% and a net margin of 6.20%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm posted $0.12 EPS. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, equities analysts forecast that Howmet Aerospace Inc. will post 1 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 25th. Investors of record on Friday, August 6th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Thursday, August 5th. Howmet Aerospace’s dividend payout ratio is presently 10.00%.

In related news, CFO Ken Giacobbe sold 4,386 shares of the company’s stock in a transaction that occurred on Wednesday, September 8th. The stock was sold at an average price of $31.08, for a total value of $136,316.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.52% of the company’s stock.

About Howmet Aerospace

Howmet Aerospace, Inc engages in provision of engineered solutions for the aerospace and transportation industries. It operates through the following segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels. The Engine Products segment produces investment castings, including airfoils, and seamless rolled rings primarily for aircraft engines (aerospace commercial and defense) and industrial gas turbines.

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Institutional Ownership by Quarter for Howmet Aerospace (NYSE:HWM)

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