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

Howmet Aerospace Inc. (NYSE:HWM) was the target of a large increase in short interest in the month of 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 daily trading volume, of 3,480,000 shares, the days-to-cover ratio is currently 2.1 days.

Howmet Aerospace Stock Performance

Shares of HWM traded up $0.53 during mid-day trading on Wednesday, hitting $64.02. The stock had a trading volume of 2,640,763 shares, compared to its average volume of 3,132,124. The company has a market cap of $26.14 billion, a PE ratio of 34.99, a PEG ratio of 1.65 and a beta of 1.43. The company’s fifty day simple moving average is $65.44 and its two-hundred day simple moving average is $56.19. The company has a quick ratio of 0.87, a current ratio of 1.86 and a debt-to-equity ratio of 0.88. Howmet Aerospace has a fifty-two week low of $42.17 and a fifty-two week high of $69.55.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.53 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $1.65 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, equities analysts expect that Howmet Aerospace will post 2.18 earnings per share for the current year.

Howmet Aerospace Dividend Announcement

The business also recently disclosed 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 is currently 10.93%.

Analysts Set New Price Targets

HWM has been the topic of several analyst reports. KeyCorp raised their target price on Howmet Aerospace from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Robert W. Baird lifted their price objective on Howmet Aerospace from $65.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. The Goldman Sachs Group lifted their price objective on Howmet Aerospace from $65.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank of Canada assumed coverage on Howmet Aerospace in a report on Monday, March 18th. They set an “outperform” rating and a $75.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Howmet Aerospace from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Howmet Aerospace presently has an average rating of “Moderate Buy” and an average price target of $66.00.

Insider Activity at Howmet Aerospace

In related news, EVP Neil Edward Marchuk sold 45,000 shares of the firm’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 sale, the executive vice president now directly owns 229,568 shares in the company, valued at approximately $15,482,065.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.23% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC boosted 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 valued at $26,000 after purchasing an additional 212 shares during the period. Financial Freedom LLC acquired a new position in Howmet Aerospace during the 4th quarter valued at approximately $29,000. Headinvest LLC acquired a new position in Howmet Aerospace during the 3rd quarter valued at approximately $30,000. Kathleen S. Wright Associates Inc. acquired a new position in Howmet Aerospace during the 3rd quarter worth $31,000. Finally, Clear Street Markets LLC boosted 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 period. Institutional investors and hedge funds own 90.46% of the company’s stock.

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.