Robert W. Baird analysts initates an Outperform rating for Howmet Aerospace Inc. (HWM)


Howmet Aerospace Inc.’s filing revealed that its EVP, HR Marchuk Neil Edward unloaded Company’s shares for reported $4.0 million on Aug 09. In the deal valued at $50.06 per share,80,000 shares were sold. As a result of this transaction, Marchuk Neil Edward now holds 261,291 shares worth roughly $ 12.62 million.

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Then, Marchuk Neil Edward sold 57,000 shares, generating $2,485,576 in total proceeds. Upon selling the shares at $43.61, the EVP, HR now owns 286,751 shares.

Before that, Shultz Barbara Lou sold 4,627 shares. Howmet Aerospace Inc. shares valued at $195,078 were divested by the Vice President and Controller at a price of $42.16 per share. As a result of the transaction, Shultz Barbara Lou now holds 20,542 shares, worth roughly $0.99 million.

Robert W. Baird initiated its Howmet Aerospace Inc. [HWM] rating to an Outperform in a research note published on Tuesday, July 25, 2023; the price target was $61. PT values the company’s stock at a premium of 20.8 to its Tuesday closing price.

Price Performance Review of HWM

On Tuesday, Howmet Aerospace Inc. [NYSE:HWM] saw its stock fall -2.78% to $48.31. On the same session, the stock had its day’s lowest price of $48.26, but rose to a high of $49.68. Over the last five days, the stock has lost -1.13%. Howmet Aerospace Inc. shares have risen nearly 22.58% since the year began. Nevertheless, the stocks have risen 37.83% over the past one year. While a 52-week high of $51.34 was reached on 07/12/23, a 52-week low of $30.59 was recorded on 03/15/23. SMA at 50 days reached $49.33, while 200 days put it at $43.55. A total of 3.14 million shares were traded, compared to the trading of 2.0 million shares in the previous session.

Levels Of Support And Resistance For HWM Stock

The 24-hour chart illustrates a support level at 47.82, which if violated will result in even more drops to 47.33. On the upside, there is a resistance level at 49.24. A further resistance level may holdings at 50.17. The Relative Strength Index (RSI) on the 14-day chart is 43.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.28, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.22%. Stochastics %K at 67.09% indicates the stock is a holding.

How much short interest is there in Howmet Aerospace Inc.?

A steep rise in short interest was recorded in Howmet Aerospace Inc. stocks on Aug 14, 2023, growing by 0.83 million shares to a total of 3.81 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.98 million shares. There was a rise of 21.78%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.17% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.36.

Howmet Aerospace Inc. [HWM] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 42,326,497 shares, or roughly 10.24% of the outstanding HWM shares. In other words, the investor’s shares have risen by 1,617,120 from its previous 13-F filing of 40709377.0. Additionally, BlackRock Fund Advisors decreased -3.46% of its stake after which the total value it holdings stand at $1,172,644,138, while Massachusetts Financial Services reduced -5.09% of its stake to hold $1.16 billion in the firm. Over the last quarter, Janus Henderson Investors US LLC purchased 399,105 shares of Howmet Aerospace Inc., while Boston Partners Global Investors, bought -781,352 shares. At present, Elliott Investment Management LP is holding 17,095,000 shares valued at $874.24 million. SSgA Funds Management, Inc. owned 16,332,749 shares of the company at the time of its most recent 13F filing, worth $835.26 million.

According to FactSet, Howmet Aerospace Inc.’s share price will average $55.74 in the next year, based on opinions of analysts polled by the firm. This is up nearly 12.7 percent from its previous closing price of $49.69. Analysts expect Howmet Aerospace Inc. stock to reach the higher price of $61.00, while the lowest price estimate is $47.00. However, 19 analysts have rated HWM stock as a Buy in their predictions for 2023.


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