Howmet Aerospace Inc. (NYSE:HWM) Sees Large Drop in Short Interest

Howmet Aerospace Inc. (NYSE:HWM) saw a large decline in short interest in the month of 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. Based on an average daily volume of 2,210,000 shares, the short-interest ratio is presently 3.3 days. Approximately 1.8% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several research firms have commented on HWM. KeyCorp downgraded shares of Howmet Aerospace from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Sanford C. Bernstein upped their price objective on shares of Howmet Aerospace from $113.00 to $127.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. UBS Group increased their price target on shares of Howmet Aerospace from $103.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Susquehanna increased their price target on shares of Howmet Aerospace from $120.00 to $132.00 and gave the stock a “positive” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.41.

Howmet Aerospace Price Performance

Shares of HWM stock traded up $0.70 during trading on Monday, hitting $112.71. The company had a trading volume of 647,216 shares, compared to its average volume of 2,925,393. The company has a quick ratio of 0.98, a current ratio of 2.24 and a debt-to-equity ratio of 0.76. The stock’s 50-day moving average is $102.37 and its two-hundred day moving average is $91.29. The stock has a market capitalization of $45.79 billion, a price-to-earnings ratio of 43.20, a price-to-earnings-growth ratio of 1.50 and a beta of 1.46. Howmet Aerospace has a 52 week low of $51.22 and a 52 week high of $116.74.

Howmet Aerospace Announces Dividend

The firm also recently declared 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. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Friday, November 8th. Howmet Aerospace’s payout ratio is currently 12.21%.

Insider Transactions at Howmet Aerospace

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the sale, the chief financial officer now directly owns 155,135 shares of the company’s stock, valued at $14,982,938.30. This represents a 49.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $96.94, for a total transaction of $6,847,550.78. Following the sale, the executive vice president now directly owns 92,687 shares in the company, valued at approximately $8,985,077.78. This trade represents a 43.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Senator Investment Group LP grew its position in Howmet Aerospace by 24.8% during the second quarter. Senator Investment Group LP now owns 156,000 shares of the company’s stock valued at $12,110,000 after acquiring an additional 31,000 shares during the last quarter. Terra Nova Asset Management LLC bought a new position in Howmet Aerospace during the third quarter valued at approximately $1,264,000. Wealthspire Advisors LLC bought a new position in Howmet Aerospace during the second quarter valued at approximately $209,000. Livforsakringsbolaget Skandia Omsesidigt grew its position in Howmet Aerospace by 1,258.3% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,051 shares of the company’s stock valued at $206,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Blair William & Co. IL grew its position in Howmet Aerospace by 51.6% during the first quarter. Blair William & Co. IL now owns 25,488 shares of the company’s stock valued at $1,744,000 after acquiring an additional 8,676 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors.

Howmet Aerospace Company Profile

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.