Howmet Aerospace Inc. (NYSE:HWM) Short Interest Down 7.3% in February

Howmet Aerospace Inc. (NYSE:HWM – Get Rating) was the target of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 5,360,000 shares, a decrease of 7.3% from the January 31st total of 5,780,000 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average daily trading volume, of 2,420,000 shares, the short-interest ratio is currently 2.2 days.

Insider Buying and Selling at Howmet Aerospace

In related news, VP Barbara Lou Shultz sold 4,627 shares of the stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $42.16, for a total value of $195,074.32. Following the completion of the transaction, the vice president now directly owns 20,542 shares of the company’s stock, valued at $866,050.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Howmet Aerospace

Several large investors have recently modified their holdings of HWM. Bessemer Group Inc. grew its position in Howmet Aerospace by 46,868.0% during the 3rd quarter. Bessemer Group Inc. now owns 5,192,316 shares of the company’s stock worth $160,596,000 after purchasing an additional 5,181,261 shares during the last quarter. Norges Bank purchased a new stake in Howmet Aerospace during the 4th quarter worth approximately $134,379,000. Prudential Financial Inc. grew its position in Howmet Aerospace by 605.0% during the 2nd quarter. Prudential Financial Inc. now owns 2,323,840 shares of the company’s stock worth $72,814,000 after purchasing an additional 1,994,197 shares during the last quarter. Bank of America Corp DE grew its position in Howmet Aerospace by 62.4% during the 4th quarter. Bank of America Corp DE now owns 2,941,040 shares of the company’s stock worth $115,906,000 after purchasing an additional 1,129,722 shares during the last quarter. Finally, Royal Bank of Canada grew its position in Howmet Aerospace by 383.3% during the 1st quarter. Royal Bank of Canada now owns 1,362,379 shares of the company’s stock worth $48,964,000 after purchasing an additional 1,080,491 shares during the last quarter. Institutional investors own 91.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HWM. KeyCorp increased their price target on shares of Howmet Aerospace from $41.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, February 16th. Argus raised their price objective on shares of Howmet Aerospace from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, February 21st. Wells Fargo & Company raised their price objective on shares of Howmet Aerospace from $43.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, February 15th. Morgan Stanley raised their price objective on shares of Howmet Aerospace from $47.00 to $49.00 and gave the company an “overweight” rating in a research report on Wednesday, February 15th. Finally, Truist Financial raised their price objective on shares of Howmet Aerospace from $35.00 to $39.00 and gave the company a “hold” rating in a research report on Wednesday, February 15th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.78.

Howmet Aerospace Stock Performance

Shares of NYSE:HWM opened at $43.35 on Wednesday. Howmet Aerospace has a 52 week low of $29.84 and a 52 week high of $44.37. The stock has a market capitalization of $17.87 billion, a P/E ratio of 39.05, a PEG ratio of 1.12 and a beta of 1.46. The firm has a fifty day simple moving average of $40.91 and a two-hundred day simple moving average of $37.60. The company has a quick ratio of 1.04, a current ratio of 2.12 and a debt-to-equity ratio of 1.17.

Howmet Aerospace (NYSE:HWM – Get Rating) last issued its quarterly earnings data on Tuesday, February 14th. The company reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. Howmet Aerospace had a net margin of 8.28% and a return on equity of 17.53%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period last year, the company posted $0.30 EPS. The business’s revenue was up 17.7% on a year-over-year basis. On average, analysts expect that Howmet Aerospace will post 1.63 earnings per share for the current fiscal year.

Howmet Aerospace Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 27th. Investors of record on Friday, February 10th were issued a dividend of $0.04 per share. The ex-dividend date was Thursday, February 9th. This represents a $0.16 dividend on an annualized basis and a yield of 0.37%. Howmet Aerospace’s payout ratio is 14.41%.

About Howmet Aerospace

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Howmet Aerospace, Inc engages in provision of engineered solutions for the aerospace and transportation industries. It operates through the following segments: Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels. The Engine Products segment produces investment castings, including airfoils, and seamless rolled rings primarily for aircraft engines (aerospace commercial and defense) and industrial gas turbines.