Howmet Aerospace Inc. (NYSE:HWM) Short Interest Down 6.5% in October

Howmet Aerospace Inc. (NYSE:HWM) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 7,390,000 shares, a decrease 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 currently 3.3 days. Approximately 1.8% of the company’s shares are short sold.

Howmet Aerospace Trading Up 2.5 %

NYSE HWM opened at $115.99 on Wednesday. The stock has a market cap of $47.12 billion, a P/E ratio of 44.27, a PEG ratio of 1.50 and a beta of 1.46. The company’s fifty day simple moving average is $103.22 and its 200-day simple moving average is $91.80. The company has a current ratio of 2.24, a quick ratio of 0.98 and a debt-to-equity ratio of 0.76. Howmet Aerospace has a 52 week low of $51.22 and a 52 week high of $116.74.

Howmet Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 8th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.32 dividend on an annualized basis and a yield of 0.28%. Howmet Aerospace’s dividend payout ratio is currently 12.21%.

Insider Buying and Selling at Howmet Aerospace

In other Howmet Aerospace news, CFO Ken Giacobbe sold 154,909 shares of Howmet Aerospace stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 155,135 shares in the company, valued at $14,982,938.30. The trade was a 49.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Neil Edward Marchuk sold 70,637 shares of the stock in a transaction dated 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 owns 92,687 shares in the company, valued at approximately $8,985,077.78. The trade was a 43.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Howmet Aerospace

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HWM. Neo Ivy Capital Management acquired a new position in shares of Howmet Aerospace in the third quarter worth about $2,420,000. Coldstream Capital Management Inc. increased its holdings in Howmet Aerospace by 11.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 6,746 shares of the company’s stock worth $686,000 after purchasing an additional 695 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Howmet Aerospace by 5.0% in the 3rd quarter. Geode Capital Management LLC now owns 9,502,223 shares of the company’s stock valued at $949,382,000 after purchasing an additional 453,275 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Howmet Aerospace by 16.4% during the 3rd quarter. M&T Bank Corp now owns 31,695 shares of the company’s stock valued at $3,177,000 after buying an additional 4,461 shares during the last quarter. Finally, LRI Investments LLC grew its position in shares of Howmet Aerospace by 57.3% during the third quarter. LRI Investments LLC now owns 2,505 shares of the company’s stock worth $251,000 after buying an additional 913 shares in the last quarter. 90.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on HWM. Truist Financial increased their price target on shares of Howmet Aerospace from $123.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays increased their target price on Howmet Aerospace from $100.00 to $130.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. boosted their price target on Howmet Aerospace from $83.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Bank of America raised their price objective on Howmet Aerospace from $100.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Howmet Aerospace from $106.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $115.41.

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.