On April 24, 2023 at 10:45:18 ET an unusually large $417.00K block of Put contracts in Howmet Aerospace (HWM) was bought, with a strike price of $42.00 / share, expiring in 53 day(s) (on June 16, 2023).

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1194 funds or institutions reporting positions in Howmet Aerospace. This is an increase of 50 owner(s) or 4.37% in the last quarter. Average portfolio weight of all funds dedicated to HWM is 0.24%, a decrease of 2.86%. Total shares owned by institutions increased in the last three months by 1.93% to 460,106K shares. The put/call ratio of HWM is 0.27, indicating a bullish outlook.

Analyst Price Forecast Suggests 11.59% Upside

As of April 24, 2023, the average one-year price target for Howmet Aerospace is $47.91. The forecasts range from a low of $39.39 to a high of $54.60. The average price target represents an increase of 11.59% from its latest reported closing price of $42.93.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Howmet Aerospace is $6,236MM, an increase of 10.12%. The projected annual non-GAAP EPS is $1.75.

What are Other Shareholders Doing?

THRIVENT SERIES FUND INC – Thrivent Moderately Conservative Allocation Portfolio holds 53K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 52K shares, representing an increase of 1.71%. The firm increased its portfolio allocation in HWM by 28.03% over the last quarter.

Nomura Asset Management holds 90K shares representing 0.02% ownership of the company. In it’s prior filing, the firm reported owning 89K shares, representing an increase of 0.61%. The firm increased its portfolio allocation in HWM by 16.99% over the last quarter.

Front Barnett Associates holds 39K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 40K shares, representing a decrease of 4.41%. The firm decreased its portfolio allocation in HWM by 99.88% over the last quarter.

Industrial Alliance Investment Management holds 12K shares representing 0.00% ownership of the company. No change in the last quarter.

Procyon Private Wealth Partners holds 8K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 7K shares, representing an increase of 18.52%. The firm increased its portfolio allocation in HWM by 69.39% over the last quarter.

Howmet Aerospace Declares $0.04 Dividend

On January 27, 2023 the company declared a regular quarterly dividend of $0.04 per share ($0.16 annualized). Shareholders of record as of February 10, 2023 received the payment on February 27, 2023. Previously, the company paid $0.04 per share.

At the current share price of $42.93 / share, the stock’s dividend yield is 0.37%. Looking back five years and taking a sample every week, the average dividend yield has been 0.54%, the lowest has been 0.21%, and the highest has been 1.49%. The standard deviation of yields is 0.42 (n=164).

The current dividend yield is 0.41 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is 0.14. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

Howmet Aerospace Background Information
(This description is provided by the company.)

Howmet Aerospace Inc., headquartered in Pittsburgh, Pennsylvania, is a leading global provider of advanced engineered solutions for the aerospace and transportation industries. The Company’s primary businesses focus on jet engine components, aerospace fastening systems, and titanium structural parts necessary for mission-critical performance and efficiency in aerospace and defense applications, as well as forged wheels for commercial transportation. With nearly 1,200 granted and pending patents, the Company’s differentiated technologies enable lighter, more fuel-efficient aircraft to operate with a lower carbon footprint. In 2019, the businesses of Howmet Aerospace reported annual revenue of over $7 billion.

See all Howmet Aerospace regulatory filings.

This article originally appeared on Fintel

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