Massachusetts Financial Services has recently announced that it has increased stake in Howmet Aerospace Inc (NYSE:HWM) by 3.97%. After grabbing 23.51 million shares, the institutional investor is now in possession of 0.9 million shares of the Industrials Company. The new investment brought the stake of investor firm to 5.71% having worth around $1.24 billion. Moreover, BlackRock Fund Advisors increased its share by 0.15 million to have a control over 23.08 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.29 million shares by acquiring 16.62 million shares or 4.04% of the stake.
Howmet Aerospace Inc (HWM) concluded trading on 01/10/24 at a closing price of $55.57, with 4.2 million shares of worth about $233.46 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 11.90% during that period and on Wednesday the price saw a gain of about 3.46%. Currently the company’s common shares owned by public are about 412.16M shares, out of which, 406.97M shares are available for trading.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 39 times over the past 12 months. They bought 3,100,719 shares in 27 of the transactions. In 12 selling transactions, insiders dumped 1,566,096 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Hardman Johnston Global Equity are the top 3 mutual funds which are holding stakes in Howmet Aerospace Inc Vanguard Total Stock Market ETF is currently holding 12.27 million shares of worth totaling $645.18 million. The company recently came buying 14910.0 shares which brought its stake up to 2.98% of the company’s outstanding shares. Vanguard 500 Index Fund bought 41549.0 shares, after which its hold over company’s outstanding shares expand to 2.30%, leaving 9.45 million shares with the mutual fund that have a worth of about $497.25 million. Hardman Johnston Global Equity, after buying 8.49 million shares, have now control over 2.06% of the stake in the company. It holds 8.49 million shares of worth $446.43 million.
Howmet Aerospace Inc (NYSE: HWM) started trading at $55.00, above $1.29 from concluding price of the previous day. Stock saw a price change of 5.33% in past 5 days and over the past one month there was a price change of 4.34%. Year-to-date (YTD), HWM shares are showing a performance of 2.68% which increased to 38.65% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $38.17 but also hit the highest price of $54.53 during that period. The average intraday trading volume for Howmet Aerospace Inc shares is 2.40 million. The stock is currently trading 3.77% above its 20-day simple moving average (SMA20), while that difference is up 7.86% for SMA50 and it goes to 16.90% higher than SMA200.
Massachusetts Financial Services acquired 23.51 million shares of Howmet Aerospace Inc having value of about $1.24 billion. Data submitted at the U.S SEC by Massachusetts Financial Services revealed that the firm now holds 0.9 million shares in the company valued at close to $49872018.91, or have control over 3.97% stake in the company. Howmet Aerospace Inc (NYSE: HWM) currently have 412.16M outstanding shares and institutions hold larger chunk of about 89.62% of that. Holding of mutual funds in the company is about 28.48% while other institutional holders and individual stake holders have control over 61.66% and 1.42% of the stake respectively.
The stock has a current market capitalization of $22.88B and its 3Y-monthly beta is at 1.41. PE ratio of stock for trailing 12 months is 36.32, while it has posted earnings per share of $1.53 in the same period. Its PEG reads 1.70 and has Quick Ratio of 0.94 while making debt-to-equity ratio of 1.01. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for HWM, volatility over the week remained 2.02% while standing at 1.61% over the month.
Analysts are in expectations that Howmet Aerospace Inc (HWM) stock would likely to be making an EPS of $0.46 in the current quarter, while forecast for next quarter EPS is $0.5 and it is $2.15 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.43 which is $0.5 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.38 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 27.12% while it is estimated to increase by 21.11% in next year.
Analysts at 23 brokerage firms have issued recommendations for the Howmet Aerospace Inc (HWM)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.52. Out of those 23 Wall Street analysts, 16 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Truist on Jan-11-24 offering a Buy rating for the stock and assigned a target price range of between $47 and $74 to it.
