Short Interest in Howmet Aerospace Inc. (NYSE:HWM) Drops By 6.5%

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

Insider Activity at Howmet Aerospace

In related news, CFO Ken Giacobbe sold 154,909 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $96.58, for a total transaction of $14,961,111.22. Following the transaction, the chief financial officer now owns 155,135 shares in the company, valued at $14,982,938.30. This trade represents a 49.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Neil Edward Marchuk sold 70,637 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $96.94, for a total value of $6,847,550.78. Following the completion of the sale, the executive vice president now owns 92,687 shares of the company’s stock, valued at approximately $8,985,077.78. This represents a 43.25 % decrease in their position. The disclosure for this sale can be found here. 1.12% of the stock is owned by corporate insiders.

Institutional Trading of Howmet Aerospace

Large investors have recently bought and sold shares of the company. RiverPark Advisors LLC purchased a new stake in shares of Howmet Aerospace in the 3rd quarter worth about $26,000. Hollencrest Capital Management purchased a new position in shares of Howmet Aerospace during the 3rd quarter worth approximately $30,000. Cultivar Capital Inc. acquired a new position in shares of Howmet Aerospace during the 2nd quarter worth approximately $26,000. LGT Financial Advisors LLC raised its position in shares of Howmet Aerospace by 278.7% during the 2nd quarter. LGT Financial Advisors LLC now owns 356 shares of the company’s stock worth $28,000 after purchasing an additional 262 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new stake in Howmet Aerospace during the 2nd quarter valued at $32,000. Institutional investors and hedge funds own 90.46% of the company’s stock.

Howmet Aerospace Trading Up 2.5 %

Shares of Howmet Aerospace stock opened at $115.99 on Wednesday. The company has a 50-day moving average of $103.22 and a two-hundred day moving average of $91.80. The stock has a market cap of $47.12 billion, a PE ratio of 44.27, a price-to-earnings-growth ratio of 1.50 and a beta of 1.46. 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 12-month low of $51.22 and a 12-month high of $116.74.

Howmet Aerospace Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on HWM shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Howmet Aerospace from $106.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada boosted their price target on Howmet Aerospace from $105.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. increased their price objective on Howmet Aerospace from $83.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. BTIG Research boosted their target price on Howmet Aerospace from $95.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Bank of America increased their price target on Howmet Aerospace from $100.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Howmet Aerospace currently has an average rating of “Moderate Buy” and a consensus target price 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.