Massachusetts Financial Services recently announced the acquisition of new stake in Howmet Aerospace Inc (NYSE:HWM). The institutional investor has increased its shareholding in the Industrials company by 3.97% to 23.51 million shares with purchase of 0.9 million shares. This fresh investment now brings its stake to 5.71% valued currently at $1.27 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.15 million to 23.08 million shares. And SSgA Funds Management, Inc. has lifted its position by 1.76% or 0.29 million shares – to 16.62 million shares.
Currently, there are 412.16M common shares owned by the public and among those 406.82M shares have been available to trade.
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
Insiders at the company have transacted a total of 39 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 3,100,719 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 1,566,096 shares.
The top 3 mutual fund holders in Howmet Aerospace Inc are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Hardman Johnston Global Equity. Vanguard Total Stock Market ETF owns 12.95 million shares of the company’s stock, all valued at over $701.0 million. The company bought an additional 0.69 million shares recently to bring their total holdings to about 3.15% of the shares outstanding. Vanguard 500 Index Fund bought 2613.0 shares to see its total holdings expand to 9.55 million shares valued at over $516.86 million and representing 2.32% of the shares outstanding. Hardman Johnston Global Equity bought 8.49 million shares to bring its total holdings to over 8.49 million shares at a value of $459.33 million. Hardman Johnston Global Equity now owns shares totaling to 2.06% of the shares outstanding.
The company’s stock has a 5-day price change of 5.16% and 29.90% over the past three months. HWM shares are trading 4.27% year to date (YTD), with the 12-month market performance up to 45.81% higher. It has a 12-month low price of $38.17 and touched a high of $56.54 over the same period. HWM has an average intraday trading volume of 2.48 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.04%, 6.55%, and 17.38% respectively.
Institutional ownership of Howmet Aerospace Inc (NYSE: HWM) shares accounts for 89.51% of the company’s 412.16M shares outstanding. Mutual fund holders own 27.62%, while other institutional holders and individual stakeholders account for 62.40% and 1.42% respectively.
It has a market capitalization of $23.23B and a beta (3y monthly) value of 1.41. The stock’s trailing 12-month PE ratio is 36.88, while the earnings-per-share (ttm) stands at $1.53. The company has a PEG of 1.72 and a Quick Ratio of 0.94 with the debt-to-equity ratio at 1.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.84% over the week and 1.68% over the month.
Analysts forecast that Howmet Aerospace Inc (HWM) will achieve an EPS of $0.47 for the current quarter, $0.5 for the next quarter and $2.17 for 2024. The lowest estimate earnings-per-share for the quarter is $0.44 while analysts give the company a high EPS estimate of $0.55. Comparatively, EPS for the current quarter was $0.38 a year ago. Earnings per share for the fiscal year are expected to increase by 27.32%, and 21.54% over the next financial year.
Looking at the support for the HWM, a number of firms have released research notes about the stock. Truist stated their Buy rating for the stock in a research note on January 10, 2024, with the firm’s price target at $47-$74.
