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

Howmet Aerospace Inc. (NYSE:HWM) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totalling 11,040,000 shares, an increase of 16.3% from the June 15th total of 9,490,000 shares. Currently, 2.7% of the shares of the company are short sold. Based on an average daily trading volume, of 3,020,000 shares, the days-to-cover ratio is currently 3.7 days.

Howmet Aerospace Price Performance

Shares of HWM stock traded down $0.32 during trading hours on Monday, hitting $78.91. The company’s stock had a trading volume of 2,703,085 shares, compared to its average volume of 3,188,837. The company has a current ratio of 1.97, a quick ratio of 0.92 and a debt-to-equity ratio of 0.86. The business has a fifty day moving average of $81.42 and a 200-day moving average of $69.31. Howmet Aerospace has a twelve month low of $42.94 and a twelve month high of $85.52. The stock has a market cap of $32.21 billion, a price-to-earnings ratio of 38.12, a P/E/G ratio of 1.44 and a beta of 1.46.

Howmet Aerospace (NYSE:HWM) last announced its earnings results on Thursday, May 2nd. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. Howmet Aerospace’s quarterly revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts anticipate that Howmet Aerospace will post 2.39 EPS for the current year.

Howmet Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Friday, May 10th were issued a $0.05 dividend. The ex-dividend date was Thursday, May 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. Howmet Aerospace’s dividend payout ratio (DPR) is 9.66%.

Analysts Set New Price Targets

HWM has been the topic of several analyst reports. BTIG Research started coverage on shares of Howmet Aerospace in a report on Wednesday, June 26th. They issued a “buy” rating and a $95.00 target price on the stock. Barclays boosted their target price on Howmet Aerospace from $65.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, May 6th. Robert W. Baird raised their price target on Howmet Aerospace from $74.00 to $84.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Argus upped their price objective on Howmet Aerospace from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, Royal Bank of Canada increased their price objective on Howmet Aerospace from $75.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.76.

Insider Buying and Selling

In other news, EVP Neil Edward Marchuk sold 32,614 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $84.26, for a total transaction of $2,748,055.64. Following the completion of the sale, the executive vice president now owns 217,687 shares in the company, valued at $18,342,306.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.12% of the company’s stock.

Institutional Investors Weigh In On Howmet Aerospace

Hedge funds and other institutional investors have recently modified their holdings of the company. Bleakley Financial Group LLC boosted its position in Howmet Aerospace by 3.2% during the first quarter. Bleakley Financial Group LLC now owns 5,080 shares of the company’s stock worth $348,000 after acquiring an additional 158 shares during the last quarter. Valeo Financial Advisors LLC grew its position in shares of Howmet Aerospace by 4.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 4,571 shares of the company’s stock valued at $247,000 after purchasing an additional 200 shares during the period. Geneos Wealth Management Inc. increased its stake in Howmet Aerospace by 10.0% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,259 shares of the company’s stock valued at $122,000 after purchasing an additional 205 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Howmet Aerospace by 13.5% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,820 shares of the company’s stock worth $141,000 after buying an additional 217 shares during the period. Finally, Whittier Trust Co. boosted its stake in Howmet Aerospace by 81.4% in the 1st quarter. Whittier Trust Co. now owns 508 shares of the company’s stock worth $35,000 after buying an additional 228 shares during the last quarter. 90.46% of the stock is currently owned by hedge funds and other institutional investors.

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.