Stock Traders Purchase Large Volume of Howmet Aerospace Call Options (NYSE:HWM)

Howmet Aerospace Inc. (NYSE:HWM) saw unusually large options trading activity on Tuesday. Stock investors purchased 2,254 call options on the stock. This is an increase of approximately 89% compared to the average daily volume of 1,192 call options.

Insider Transactions at Howmet Aerospace

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

Hedge Funds Weigh In On Howmet Aerospace

A number of hedge funds have recently bought and sold shares of HWM. Blair William & Co. IL increased its holdings in shares of Howmet Aerospace by 51.6% during the first quarter. Blair William & Co. IL now owns 25,488 shares of the company’s stock worth $1,744,000 after purchasing an additional 8,676 shares during the period. Los Angeles Capital Management LLC increased its stake in Howmet Aerospace by 70.1% during the 1st quarter. Los Angeles Capital Management LLC now owns 1,273,290 shares of the company’s stock worth $87,131,000 after acquiring an additional 524,805 shares during the period. Quadrature Capital Ltd raised its holdings in Howmet Aerospace by 303.8% in the 4th quarter. Quadrature Capital Ltd now owns 23,629 shares of the company’s stock valued at $1,279,000 after acquiring an additional 17,777 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Howmet Aerospace by 39.0% during the 4th quarter. National Bank of Canada FI now owns 120,557 shares of the company’s stock valued at $6,477,000 after acquiring an additional 33,844 shares during the period. Finally, First Trust Direct Indexing L.P. grew its holdings in shares of Howmet Aerospace by 24.8% during the 4th quarter. First Trust Direct Indexing L.P. now owns 6,381 shares of the company’s stock worth $345,000 after purchasing an additional 1,269 shares in the last quarter. 90.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Truist Financial boosted their price objective on shares of Howmet Aerospace from $74.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Barclays lifted their target price on Howmet Aerospace from $65.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, May 6th. Wells Fargo & Company raised their price target on Howmet Aerospace from $72.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, May 6th. BTIG Research began coverage on Howmet Aerospace in a research note on Wednesday, June 26th. They set a “buy” rating and a $95.00 price objective on the stock. Finally, Northcoast Research reissued a “sell” rating and issued a $70.00 target price on shares of Howmet Aerospace in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.76.

Howmet Aerospace Stock Performance

HWM stock traded up $10.93 during mid-day trading on Tuesday, hitting $93.78. 2,962,477 shares of the company were exchanged, compared to its average volume of 3,203,814. Howmet Aerospace has a 1-year low of $42.94 and a 1-year high of $94.83. The business has a 50 day simple moving average of $81.20 and a 200-day simple moving average of $71.18. 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 stock has a market capitalization of $38.28 billion, a PE ratio of 44.21, a price-to-earnings-growth ratio of 1.50 and a beta of 1.46.

Howmet Aerospace (NYSE:HWM) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. Howmet Aerospace had a return on equity of 21.33% and a net margin of 12.53%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the company posted $0.44 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts forecast that Howmet Aerospace will post 2.39 earnings per share for the current year.

Howmet Aerospace Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 9th will be paid a $0.08 dividend. This is an increase from Howmet Aerospace’s previous quarterly dividend of $0.05. This represents a $0.32 annualized dividend and a dividend yield of 0.34%. Howmet Aerospace’s dividend payout ratio is 9.66%.

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.