Howmet Aerospace Inc. $HWM Holdings Cut by Bessemer Group Inc.

Bessemer Group Inc. reduced its stake in Howmet Aerospace Inc. (NYSE:HWM) by 7.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,267,648 shares of the company’s stock after selling 181,356 shares during the period. Howmet Aerospace accounts for about 0.7% of Bessemer Group Inc.’s investment portfolio, making the stock its 28th biggest holding. Bessemer Group Inc. owned about 0.56% of Howmet Aerospace worth $444,981,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Voya Investment Management LLC grew its position in Howmet Aerospace by 9.1% in the third quarter. Voya Investment Management LLC now owns 1,247,220 shares of the company’s stock worth $244,742,000 after buying an additional 104,207 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Howmet Aerospace by 59.2% during the 3rd quarter. Nordea Investment Management AB now owns 1,401,335 shares of the company’s stock worth $273,288,000 after acquiring an additional 521,180 shares in the last quarter. Shell Asset Management Co. grew its holdings in shares of Howmet Aerospace by 135.6% in the 2nd quarter. Shell Asset Management Co. now owns 12,420 shares of the company’s stock worth $2,312,000 after acquiring an additional 7,148 shares during the last quarter. GRIMES & Co WEALTH MANAGEMENT LLC acquired a new position in shares of Howmet Aerospace in the 3rd quarter worth $1,581,000. Finally, Greenup Street Wealth Management LLC raised its position in shares of Howmet Aerospace by 76.3% during the third quarter. Greenup Street Wealth Management LLC now owns 20,972 shares of the company’s stock worth $4,115,000 after purchasing an additional 9,078 shares during the period. 90.46% of the stock is currently owned by institutional investors and hedge funds.

Howmet Aerospace Stock Down 2.1%

Howmet Aerospace stock opened at $208.91 on Thursday. Howmet Aerospace Inc. has a twelve month low of $105.04 and a twelve month high of $226.87. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.14 and a current ratio of 2.35. The firm has a market cap of $83.99 billion, a PE ratio of 58.68, a P/E/G ratio of 2.02 and a beta of 1.26. The firm’s 50 day moving average price is $208.04 and its two-hundred day moving average price is $195.91.

Howmet Aerospace Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Friday, February 6th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.2%. Howmet Aerospace’s dividend payout ratio (DPR) is presently 13.48%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Truist Financial set a $258.00 price target on Howmet Aerospace in a research note on Friday, January 9th. Bank of America lifted their target price on shares of Howmet Aerospace from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. UBS Group boosted their price target on shares of Howmet Aerospace from $199.00 to $209.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $247.00 price objective on shares of Howmet Aerospace in a research note on Tuesday, January 6th. Finally, Industrial Alliance Securities set a $240.00 target price on shares of Howmet Aerospace in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $224.53.

Howmet Aerospace Profile

Howmet Aerospace Inc is an industrial technology company that designs, manufactures and repairs engineered metal products for the aerospace, transportation and industrial markets. Its product portfolio includes precision castings and forgings, engineered fasteners, seamless rolled rings, and complex components for turbine engines, airframes and industrial gas turbines. The company also provides aftermarket services such as component repair, overhaul and parts distribution to support the operating fleet of commercial and military customers.

Howmet serves a global customer base of original equipment manufacturers (OEMs) and aftermarket operators, with manufacturing, service and distribution facilities across North America, Europe and Asia.