CIBC Asset Management Inc Has $5.97 Million Stock Holdings in Howmet Aerospace Inc. (NYSE:HWM)

CIBC Asset Management Inc lifted its stake in Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 12.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,541 shares of the company's stock after acquiring an additional 6,587 shares during the quarter. CIBC Asset Management Inc's holdings in Howmet Aerospace were worth $5,969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its stake in shares of Howmet Aerospace by 6.8% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,944 shares of the company's stock worth $195,000 after purchasing an additional 124 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in shares of Howmet Aerospace by 2.4% in the third quarter. OneDigital Investment Advisors LLC now owns 5,260 shares of the company's stock valued at $527,000 after purchasing an additional 124 shares during the last quarter. Assetmark Inc. increased its stake in shares of Howmet Aerospace by 40.0% in the third quarter. Assetmark Inc. now owns 441 shares of the company's stock worth $44,000 after purchasing an additional 126 shares during the period. Huntington National Bank lifted its position in shares of Howmet Aerospace by 11.1% during the 3rd quarter. Huntington National Bank now owns 1,526 shares of the company's stock worth $153,000 after purchasing an additional 152 shares during the last quarter. Finally, Cigna Investments Inc. New boosted its stake in Howmet Aerospace by 3.8% during the 2nd quarter. Cigna Investments Inc. New now owns 4,178 shares of the company's stock valued at $324,000 after purchasing an additional 153 shares during the period. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

Howmet Aerospace Price Performance

Howmet Aerospace stock traded up $1.16 on Monday, reaching $113.17. The company's stock had a trading volume of 1,816,899 shares, compared to its average volume of 2,930,638. The business's fifty day moving average price is $102.37 and its 200 day moving average price is $91.29. The company has a market cap of $45.98 billion, a price-to-earnings ratio of 43.20, a PEG ratio of 1.50 and a beta of 1.46. 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 twelve month low of $51.22 and a twelve month high of $116.74.

Howmet Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 8th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.28%. Howmet Aerospace's payout ratio is 12.21%.

Analyst Ratings Changes

HWM has been the subject of a number of research analyst reports. Susquehanna upped their price target on Howmet Aerospace from $120.00 to $132.00 and gave the stock a "positive" rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Howmet Aerospace from $106.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, October 3rd. Robert W. Baird upped their price objective on shares of Howmet Aerospace from $113.00 to $144.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Sanford C. Bernstein lifted their target price on Howmet Aerospace from $113.00 to $127.00 and gave the stock an "outperform" rating in a research report on Monday, October 21st. Finally, UBS Group raised their price objective on Howmet Aerospace from $103.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Howmet Aerospace presently has an average rating of "Moderate Buy" and a consensus target price of $115.41.

Insider Activity

In related news, CFO Ken Giacobbe sold 154,909 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $14,982,938.30. The trade was a 49.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the completion of the transaction, the executive vice president now owns 92,687 shares in the company, valued at $8,985,077.78. This represents a 43.25 % 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 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.