Coatue Management LLC Takes $44.15 Million Position in Howmet Aerospace (NYSE:HWM)

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Coatue Management LLC bought a new stake in shares of Howmet Aerospace (NYSE:HWM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,785,176 shares of the company’s stock, valued at approximately $44,145,000. Coatue Management LLC owned about 0.64% of Howmet Aerospace as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in HWM. Vanguard Group Inc. lifted its stake in Howmet Aerospace by 195.0% in the 2nd quarter. Vanguard Group Inc. now owns 41,991,394 shares of the company’s stock worth $665,563,000 after acquiring an additional 27,754,882 shares in the last quarter. Ancora Advisors LLC purchased a new stake in Howmet Aerospace in the 2nd quarter worth about $2,111,000. Silvercrest Asset Management Group LLC purchased a new stake in Howmet Aerospace in the 2nd quarter worth about $221,000. APG Asset Management N.V. purchased a new stake in Howmet Aerospace in the 2nd quarter worth about $2,652,000. Finally, 13D Management LLC purchased a new stake in Howmet Aerospace in the 2nd quarter worth about $6,746,000. 87.90% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have recently weighed in on the company. Cowen reaffirmed a “hold” rating and set a $17.00 price target on shares of Howmet Aerospace in a research note on Thursday, August 6th. Credit Suisse Group cut their price target on Howmet Aerospace from $22.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, August 4th. Zacks Investment Research raised Howmet Aerospace from a “sell” rating to a “hold” rating in a research note on Wednesday, August 26th. Finally, Argus downgraded Howmet Aerospace from a “buy” rating to a “hold” rating and set a $18.00 price target for the company. in a research note on Tuesday, August 18th.

Shares of NYSE HWM traded down $0.03 during mid-day trading on Friday, reaching $17.70. 2,316,500 shares of the company traded hands, compared to its average volume of 2,191,513. Howmet Aerospace has a fifty-two week low of $9.87 and a fifty-two week high of $34.27. The stock has a market cap of $7.72 billion, a PE ratio of 15.00 and a beta of 1.64. The company has a current ratio of 2.23, a quick ratio of 1.22 and a debt-to-equity ratio of 1.38. The company’s fifty day moving average is $16.70.

Howmet Aerospace (NYSE:HWM) last released its earnings results on Thursday, August 6th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.12 billion. Howmet Aerospace had a return on equity of 21.09% and a net margin of 4.58%. The company’s revenue was down 31.1% compared to the same quarter last year. As a group, sell-side analysts predict that Howmet Aerospace will post 0.66 earnings per share for the current year.

Howmet Aerospace Profile

Howmet Aerospace Inc provides advanced engineered solutions for the aerospace and transportation industries. It offers jet engine components, aerospace fastening systems, and titanium structural parts for mission-critical performance and efficiency in aerospace and defense applications, as well as forged wheels for commercial transportation.

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Institutional Ownership by Quarter for Howmet Aerospace (NYSE:HWM)

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