Howmet Aerospace Inc. (NYSE:HWM) Short Interest Update

Howmet Aerospace Inc. (NYSE:HWM) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 7,390,000 shares, a decline of 6.5% from the October 15th total of 7,900,000 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average trading volume of 2,210,000 shares, the short-interest ratio is currently 3.3 days.

Insiders Place Their Bets

In related news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total value of $14,961,111.22. Following the sale, the chief financial officer now owns 155,135 shares of the company’s stock, valued at approximately $14,982,938.30. This trade represents a 49.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Neil Edward Marchuk sold 70,637 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the transaction, the executive vice president now directly owns 92,687 shares of the company’s stock, 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. Corporate insiders own 1.12% of the company’s stock.

Hedge Funds Weigh In On Howmet Aerospace

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in Howmet Aerospace by 2.3% during the third quarter. State Street Corp now owns 17,440,176 shares of the company’s stock worth $1,748,378,000 after buying an additional 384,171 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Howmet Aerospace by 28.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,130,606 shares of the company’s stock worth $966,959,000 after acquiring an additional 3,158,186 shares in the last quarter. Geode Capital Management LLC increased its stake in Howmet Aerospace by 5.0% in the third quarter. Geode Capital Management LLC now owns 9,502,223 shares of the company’s stock valued at $949,382,000 after acquiring an additional 453,275 shares during the last quarter. Lone Pine Capital LLC acquired a new position in Howmet Aerospace during the second quarter valued at approximately $284,539,000. Finally, TD Asset Management Inc lifted its stake in Howmet Aerospace by 16.9% during the second quarter. TD Asset Management Inc now owns 3,152,629 shares of the company’s stock worth $244,739,000 after purchasing an additional 455,180 shares during the last quarter. 90.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HWM has been the subject of a number of recent research reports. UBS Group increased their price objective on shares of Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Truist Financial raised their price target on Howmet Aerospace from $123.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Bank of America upped their price objective on Howmet Aerospace from $100.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Royal Bank of Canada increased their price target on shares of Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Sanford C. Bernstein boosted their price objective on shares of Howmet Aerospace from $113.00 to $127.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Howmet Aerospace currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.41.

Howmet Aerospace Stock Performance

HWM opened at $113.17 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.24 and a quick ratio of 0.98. The business has a fifty day simple moving average of $102.76 and a 200 day simple moving average of $91.54. Howmet Aerospace has a 1 year low of $51.22 and a 1 year high of $116.74. The company has a market capitalization of $45.98 billion, a PE ratio of 43.19, a price-to-earnings-growth ratio of 1.50 and a beta of 1.46.

Howmet Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend 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 presently 12.21%.

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.