Short Interest in Howmet Aerospace Inc. (NYSE:HWM) Expands By 9.2%

Howmet Aerospace Inc. (NYSE:HWM) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 7,450,000 shares, an increase of 9.2% from the March 15th total of 6,820,000 shares. Currently, 1.8% of the company’s stock are sold short. Based on an average trading volume of 3,480,000 shares, the days-to-cover ratio is currently 2.1 days.

Insider Transactions at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $67.44, for a total transaction of $3,034,800.00. Following the completion of the transaction, the executive vice president now owns 229,568 shares of the company’s stock, valued at approximately $15,482,065.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Howmet Aerospace

A number of large investors have recently bought and sold shares of HWM. Venturi Wealth Management LLC grew its position in Howmet Aerospace by 61.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 558 shares of the company’s stock worth $26,000 after acquiring an additional 212 shares during the last quarter. Financial Freedom LLC bought a new stake in Howmet Aerospace during the 4th quarter worth approximately $29,000. Headinvest LLC bought a new stake in Howmet Aerospace during the 3rd quarter worth approximately $30,000. Kathleen S. Wright Associates Inc. bought a new stake in Howmet Aerospace during the 3rd quarter worth approximately $31,000. Finally, Clear Street Markets LLC grew its position in Howmet Aerospace by 93.8% during the 1st quarter. Clear Street Markets LLC now owns 721 shares of the company’s stock worth $31,000 after acquiring an additional 349 shares during the last quarter. 90.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HWM has been the subject of several research analyst reports. Sanford C. Bernstein initiated coverage on Howmet Aerospace in a research report on Friday, January 5th. They set an “outperform” rating and a $67.00 price objective for the company. UBS Group boosted their price objective on Howmet Aerospace from $57.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Barclays boosted their price objective on Howmet Aerospace from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. Royal Bank of Canada began coverage on Howmet Aerospace in a report on Monday, March 18th. They issued an “outperform” rating and a $75.00 price target for the company. Finally, Robert W. Baird upped their price target on Howmet Aerospace from $65.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.00.

Howmet Aerospace Price Performance

Shares of HWM traded up $0.53 during mid-day trading on Wednesday, reaching $64.02. The company had a trading volume of 2,640,763 shares, compared to its average volume of 3,132,124. Howmet Aerospace has a twelve month low of $42.17 and a twelve month high of $69.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.86 and a quick ratio of 0.87. The company’s 50-day moving average is $65.44 and its 200-day moving average is $56.19. The company has a market capitalization of $26.14 billion, a P/E ratio of 34.99, a P/E/G ratio of 1.65 and a beta of 1.43.

Howmet Aerospace (NYSE:HWM) last issued its earnings results on Tuesday, February 13th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.06. Howmet Aerospace had a return on equity of 20.12% and a net margin of 11.52%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the firm posted $0.38 EPS. Howmet Aerospace’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, equities analysts anticipate that Howmet Aerospace will post 2.18 EPS for the current year.

Howmet Aerospace Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Friday, February 9th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.31%. Howmet Aerospace’s dividend payout ratio (DPR) is presently 10.93%.

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.