Victory Capital Management Inc. Trims Stake in Howmet Aerospace Inc. (NYSE:HWM)

Victory Capital Management Inc. lowered its holdings in shares of Howmet Aerospace Inc. (NYSE:HWM - Free Report) by 5.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,593 shares of the company's stock after selling 9,781 shares during the quarter. Victory Capital Management Inc.'s holdings in Howmet Aerospace were worth $16,601,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Senator Investment Group LP grew its stake in Howmet Aerospace by 24.8% in the second quarter. Senator Investment Group LP now owns 156,000 shares of the company's stock valued at $12,110,000 after purchasing an additional 31,000 shares in the last quarter. Terra Nova Asset Management LLC bought a new position in Howmet Aerospace in the third quarter valued at approximately $1,264,000. Wealthspire Advisors LLC bought a new position in Howmet Aerospace in the second quarter valued at approximately $209,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in Howmet Aerospace by 1,258.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,051 shares of the company's stock valued at $206,000 after purchasing an additional 1,900 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in Howmet Aerospace by 67.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 80,414 shares of the company's stock valued at $5,431,000 after purchasing an additional 32,431 shares in the last quarter. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Stock Up 1.8 %

HWM stock traded up $2.10 during trading on Wednesday, reaching $118.10. 3,503,901 shares of the stock were exchanged, compared to its average volume of 2,931,875. The firm's 50 day moving average is $103.70 and its 200 day moving average is $91.99. Howmet Aerospace Inc. has a twelve month low of $51.29 and a twelve month high of $118.20. The company has a current ratio of 2.24, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. The firm has a market cap of $47.98 billion, a P/E ratio of 45.08, a price-to-earnings-growth ratio of 1.50 and a beta of 1.46.

Howmet Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Friday, November 8th. Howmet Aerospace's dividend payout ratio is currently 12.21%.

Insiders Place Their Bets

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the completion of the transaction, the chief financial officer now directly owns 155,135 shares of the company's stock, valued at approximately $14,982,938.30. This represents a 49.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction on Friday, August 23rd. The stock was 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 owns 92,687 shares in the company, valued at approximately $8,985,077.78. This represents a 43.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Howmet Aerospace from $83.00 to $105.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. Sanford C. Bernstein raised their price objective on Howmet Aerospace from $113.00 to $127.00 and gave the company an "outperform" rating in a research report on Monday, October 21st. Wells Fargo & Company raised their price objective on Howmet Aerospace from $113.00 to $129.00 and gave the company an "overweight" rating in a research report on Tuesday, November 12th. KeyCorp cut Howmet Aerospace from an "overweight" rating to a "sector weight" rating in a research report on Thursday, October 24th. Finally, Susquehanna raised their price objective on Howmet Aerospace from $120.00 to $132.00 and gave the company a "positive" rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.41.

About Howmet Aerospace

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.