HWM Howmet Aerospace Inc.

XNYS 215.56 Delayed
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HWM $215.56 —

What changed

Recent filings, trades and moves
Key stats
$215.56
52-Week Range
$183.52 – $310.00
YTD
+1.82%
IV Rank (30D)
52.12
Straddle Price
$21.10
P/C Vol Ratio
1.29
Market Cap
$81.8B
Open
$210.21
Day Range
$208.63 – $217.32
Volume
1,714,597
Prev Close
$205.81
Fair Value
MODEL: LONG

A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.

  • DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
  • Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
  • DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
  • P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
  • Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
  • Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
  • Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
  • Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
10-yr Treasury (rf)4.90%
Beta vs SPY1.08
Cost of Equity (CAPM)10.05% (VRP-adj)
WACC10.14%
Volatility Risk Premium-5.2pp (IV − HV30), ERP adj -25bps
Effective Tax Rate18.1%
Rev. Growth (YoY, DCF input)+24.7%
DCF Horizon12 years explicit + fade
Forward Tilt (NTM/TTM)×1.10 (applied to P/E, EV/EBITDA, P/S)
Free Cash Flow (TTM)$1.9B
Return on Equity (TTM)35.7%
Book / Price7.0%
Gross Margin (TTM)36.6%
FCF Margin (TTM)19.8%
Debt / Equity0.70
Quality Score4/6 — high quality (12y DCF)
Market-Implied Growth+21.8% (reverse-DCF on current price)
SMA 50$223.44 (Market Anchor value)
SMA 20 / Bollinger Mid$207.90
Bollinger Width / SMA2021.6% (drives anchor stability)
Net Debt$3.5B
Market Cap$82B
Peers used for multiples: AMZN, AVGO, GE, GOOG, GOOGL, MSFT, NVDA, RTX
60-Day Conviction
86%
20-Day Fair Value
≈ by Dec 8, 2026
$219.75
α +1.7% rank 15%
conviction
88%
40-Day Fair Value
≈ by Jan 6, 2027
$221.82
α +2.7% rank 11%
conviction
76%
60-Day Fair Value
≈ by Feb 4, 2027
$225.88
α +4.6% rank 21%
conviction
86%
MethodImplied PriceWeightDetail
DCF $247.25 21%
DDM (Gordon) n/a 0%
Peer P/E $142.30 9% median 25.3× · 8 peers
Peer EV/EBITDA $154.71 9% median 19.5× · 8 peers
Peer P/B $97.88 2% median 6.8× · 8 peers
Peer P/S $196.96 6% median 7.4× · 8 peers
Market Anchor (SMA50) $223.44 32% stability 76% (BB-width)
Options Expected (B-L 30d) $207.15 21% 30 strikes · skew +0.23
As of 2026-11-09 · updated
About
Industry (SIC)
ROLLING DRAWING & EXTRUDING OF NONFERROUS METALS (3350) · industry map
Exchange
XNYS
Market Cap
$81.8B
Employees
25,430
List Date
2016-10-18
CIK
0000004281
Last Earnings
Oct 29 before open · +5.5% vs ±6.7% expected
Next Earnings
~Feb 11, 2027 (estimated)
Headquarters
Pittsburgh, PA
Homepage
https://www.howmet.com

Howmet Aerospace Inc offers engineered solutions for the aerospace and transportation industries. The company's products and solutions include investment castings for jet engines and industrial gas turbines; seamless rolled rings for jet engines; fastening systems for aerospace, industrial and commercial transportation applications; forged jet engine components (e.g., jet engine disks); machined and forged aircraft parts; and forged aluminum commercial vehicle wheels, all of which are sold directly to customers or through distributors. It has four reportable segments: Engine Products, which de…

Summary
—
composite
—
No summary data available for this symbol yet.

Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.

Chart
Seasonality
'21'22'23'24'25'26Avg
Jan-8.52%-3.84%4.17%4.71%14.25%-1.71%1.51%
Feb12.22%13.60%3.92%15.98%8.09%26.70%13.42%
Mar10.98%8.55%-1.00%2.13%-0.98%-13.07%1.10%
Apr0.44%-6.06%3.07%0.97%5.16%1.67%0.88%
May10.77%5.70%-3.50%26.76%14.77%7.82%10.39%
Jun-3.20%-11.86%13.33%-8.27%7.81%5.22%0.51%
Jul-5.20%16.76%4.09%23.80%2.01%5.34%7.80%
Aug-2.99%-5.14%0.98%1.89%-5.51%-14.45%-4.20%
Sep-2.19%-11.75%-6.92%7.77%13.28%-11.26%-1.84%
Oct-8.45%10.78%-2.91%-1.19%5.70%-12.77%-1.47%
Nov-7.77%3.23%17.62%18.34%-1.04%1.33%*5.29%
Dec16.13%2.60%2.31%-7.07%3.16%--3.43%
Total8.23%19.02%38.09%115.10%87.47%-11.74%42.69%
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $207.64
SMA 50: $222.46
SMA 200: $248.42
Current: $215.61
EMA 12: $208.49
EMA 26: $212.81
MACD: -4.3241 | Signal: 2.3319
BEARISH
ADX (14): 30.70
TREND
+DI: 27.78
−DI: 26.13

Momentum Oscillators

RSI (14): 51.33
NEUTRAL
Stoch %K: 56.70
Stoch %D: 60.17
Williams %R: -23.94

Volume & Volatility

BB Upper: $229.63
BB Lower: $185.64
NEUTRAL
OBV: 38,784,404
Vol SMA 20: 4,490,297
Vol ROC: -71.35%
ATR: $9.81
True Range: $11.51
HV 20: 63.8%
HV 30: 54.0%
HV 60: 50.6%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-11-08T00:00:00 – 2026-11-06T00:00:00
AI Analysis
Written before HWM’s Oct 29 earnings report, so it doesn’t reflect the results.

HWM (Howmet Aerospace) - Comprehensive Stock Analysis

Executive Summary

Overall Assessment: BEARISH | Confidence Level: 8/10

Howmet Aerospace is in acute technical distress despite positive aerospace sector sentiment. The stock has broken below all major moving averages and is trading at the lowest point in its recent range, with oversold momentum indicators suggesting capitulation selling. While the aerospace supply chain narrative remains constructive (Boeing turnaround, sector strength), HWM's underperformance relative to peers (GE Aerospace outpacing) and deteriorating technical structure indicate near-term selling pressure will likely persist before any recovery attempt.

Key Drivers:

  • Bearish: Severe downtrend (price 22.6% below 200-day MA), extreme oversold conditions (RSI 22.08), massive put/call imbalance (16.47x), deteriorating MACD (-7.29 histogram)
  • Bullish: Positive aerospace sector catalysts, earnings announcement imminent (10-29), options market pricing significant move ($23.80 expected), potential oversold bounce setup
  • Primary Risks: Further downside to $175-180 support, negative earnings surprise, continued peer underperformance, sector rotation concerns

Investment Thesis: HWM is caught in a structural downtrend that contradicts the positive aerospace narrative; the stock's 22% discount to its 200-day average and extreme oversold readings suggest either a capitulation washout before recovery or evidence of company-specific problems that diverge from sector strength. Earnings on 10-29 represent a binary catalyst that could either validate the technical weakness (bearish surprise) or trigger a reversal from deeply oversold levels.

Recent News Sentiment Impact: News headlines show mixed results: while Boeing turnaround narratives (10-22) and sector strength (10-15, 10-13) are positive, the 10-20 article specifically notes HWM "stock falls amid market uptick"—a direct divergence from sector momentum. This suggests market participants are concerned about HWM-specific issues rather than sector headwinds. GE Aerospace (10-19) explicitly outpacing HWM implies relative weakness.

Technical Analysis

Trend Direction

Short-term (1-4 weeks): STRONG DOWNTREND

  • Price $193.29 is 13.1% below SMA 20 ($221.91), 19.4% below SMA 50 ($239.80)
  • EMA 12 ($214.96) > EMA 26 ($223.67) reversal signal now broken
  • ADX 42.80 confirms strong trend direction (>40 = extreme)
  • -DI 42.48 >> +DI 8.24 shows bearish momentum dominance

Medium-term (1-3 months): DOWNTREND INTACT

  • Price 22.6% below SMA 200 ($249.33) indicates multi-week/month deterioration
  • All three moving averages in bearish alignment: SMA 20 < SMA 50 < SMA 200
  • No recent attempts to reclaim SMA 50 resistance

Long-term (3-12 months): WEAKENING

  • 200-day MA at $249.33 represents structural resistance
  • Pattern suggests intermediate-term downtrend from higher levels not shown in current data

Support/Resistance Levels

| Level | Type | Significance | |-------|------|--------------| | $240.44 | Resistance (BB Upper) | Immediate overhead; marks 200-day MA vicinity | | $221.91 | Resistance (SMA 20) | First recovery target; 14.8% above current | | $203.39 | Support (BB Lower) | Current oversold floor; 5.3% below price | | $195-197 | Support (Recent Floor) | Approximate current price action base | | $175-180 | Critical Support | Estimated from historical structure; -9.4% downside |

Bollinger Bands Context: Price at $193.29 is below the lower band ($203.39) but very close, indicating potential mean reversion bounce or continued breakdown. Band width of 16.70 (relatively wide) confirms elevated volatility.

Momentum Signals

RSI (14): 22.08 — EXTREME OVERSOLD

  • Well below 30 threshold; historically RSI <20 often precedes bounces
  • However, RSI can remain depressed in strong downtrends for weeks
  • Confirms capitulation selling but not predictive of reversal timing

MACD: -8.71 / Signal: -1.42 / Histogram: -7.29 — BEARISH

  • MACD deeply negative (-8.71) below signal line (-1.42)
  • Histogram -7.29 represents widening bearish divergence
  • No crossover signals imminent; momentum remains decidedly downward
  • This is the strongest technical red flag: MACD rarely turns positive until price stabilizes

Stochastic %K: 15.15 / %D: 26.18 — DEEPLY OVERSOLD

  • Both indicators in extreme territory (<30)
  • %K below %D suggests downward momentum continuing
  • Potential bullish divergence if price holds and stochastic turns upward

Williams %R: -92.93 — CAPITULATION

  • Extreme reading (<-80) indicates selling exhaustion
  • Often appears at multi-week lows before reversals

Composite Assessment: Momentum indicators are uniformly oversold, suggesting either imminent technical bounce or continued deterioration if negative catalysts emerge. The MACD's bearish histogram is most concerning—it lags price and suggests sellers retain control.

Volume Analysis

Volume Trends:

  • Volume SMA 20: 3.05M shares (baseline average)
  • Volume Rate of Change: +148.97% — EXTREMELY ELEVATED
  • This suggests recent sessions have 2.5x normal volume; consistent with capitulation selling

On-Balance Volume (OBV): 41.05M

  • OBV declining with price confirms selling pressure is not being absorbed
  • Accumulation would show OBV rising despite price decline

Institutional Interest Signals:

  • Volume spike (+149%) indicates institutional liquidation or panic selling
  • No evidence of accumulation (OBV would be rising)
  • High volume on downside is bearish; typically must reverse direction before recovery

News & Sentiment Analysis

Recent Headlines Summary (Last 10 articles spanning 10-13 to 10-22)

| Date | Headline | Sentiment | Relevance | |------|----------|-----------|-----------| | 10-22 | Boeing Turnaround Pivot Point | POSITIVE | Sector tailwind; supply chain strength | | 10-20 | HWM Stock Falls Amid Market Uptick | POSITIVE* | CRITICAL DIVERGENCE — stock down while market up | | 10-19 | GE Aerospace Outpacing Peers | POSITIVE | Direct peer comparison; HWM not mentioned favorably | | 10-16 | GE Aerospace Q3 Earnings Preview | NEUTRAL | Sector focus on competitor | | 10-15 | Aerospace Systems Strength | POSITIVE | Sector momentum narrative | | 10-13 | ATI Cash Flow Story | POSITIVE | Peer peer strength narrative |

*Note: 10-20 headline classified "POSITIVE" but content is clearly negative for HWM

Sentiment Assessment

Aggregate Sentiment: MIXED-TO-NEGATIVE FOR HWM SPECIFICALLY

  • Sector Sentiment: POSITIVE — Aerospace supply chain, Boeing recovery, system strength all constructive
  • HWM Specific Sentiment: NEGATIVE — Stock diverging from sector; GE Aerospace explicitly noted as outpacing; 10-20 article is most direct negative signal
  • Narrative Gap: Positive aerospace headlines are NOT lifting HWM, indicating market is pricing in company-specific concerns

Catalyst Identification

Immediate (1-7 days):

  • Earnings Release: October 29, 2026 (7 days out)
  • Expected Move: $23.80 (IV rank at 100% confirms elevated move expectation)
  • Binary catalyst: Beat could trigger bounce; miss could extend downside to $175-180 range

Near-term (1-4 weeks):

  • Post-earnings technical recovery attempt (if oversold bounce occurs)
  • Sector tailwinds from Boeing/aerospace recovery materializing in peer earnings
  • Potential GE Aerospace earnings outperformance (10-16 article suggests Q3 results coming)

**Medium-term (1-3

Generated
News
All HWM news →
Showing 1–10 of 17
Page 1 of 2
Earnings History
18 of 24 under expected move
Avg Expected Move
7.11%
Avg Actual Move
4.92%
Each row pairs the pre-earnings straddle-implied expected move with the realized close-to-close move. Sorted oldest first.
Earnings Date Timing Expected Move Actual Move Ratio Outcome
2021-02-03 Pre-Market 10.15% 2.87% 0.28x Within
2021-05-06 Pre-Market 7.73% 0.43% 0.06x Within
2021-08-04 Pre-Market 6.52% 6.97% 1.07x Exceeded
2021-11-04 Pre-Market 8.22% 1.87% 0.23x Within
2022-02-02 Pre-Market 8.70% 3.13% 0.36x Within
2022-05-03 Pre-Market 9.52% 3.40% 0.36x Within
2022-08-04 Pre-Market 6.50% 0.32% 0.05x Within
2022-10-31 Pre-Market 7.46% 1.71% 0.23x Within
2023-02-14 Pre-Market 5.40% 4.72% 0.87x Within
2023-05-02 Pre-Market 6.75% 1.49% 0.22x Within
2023-08-01 Pre-Market 6.04% 4.20% 0.70x Within
2023-11-02 Pre-Market 5.50% 7.89% 1.43x Exceeded
2024-02-13 Pre-Market 4.71% 5.35% 1.14x Exceeded
2024-05-02 Pre-Market 6.00% 15.45% 2.57x Exceeded
2024-07-30 Pre-Market 8.21% 13.23% 1.61x Exceeded
2024-11-06 Pre-Market 7.93% 12.43% 1.57x Exceeded
2025-02-13 Pre-Market 8.70% 0.01% 0.00x Within
2025-05-01 Pre-Market 7.47% 6.82% 0.91x Within
2025-07-31 Pre-Market 6.53% 6.44% 0.99x Within
2025-10-30 Pre-Market 6.51% 0.84% 0.13x Within
2026-02-12 Pre-Market 6.41% 6.04% 0.94x Within
2026-05-07 Pre-Market 6.82% 6.28% 0.92x Within
2026-08-06 Pre-Market 6.06% 0.58% 0.10x Within
2026-10-29 Pre-Market 6.69% 5.51% 0.82x Within

Earnings calendar: this week’s reports with expected vs actual moves →

HWM Options Activity & IV Rank

HWM IV rank history, 52-week IV rank and IV percentile →

Volatility Metrics

Current IV: 41.4%
7-DTE IV: 46.3%
Expected Move: $21.10
7-DTE Move: $8.90
Days to Exp: 32 (2026-12-11)

Options Flow · All expiries

Call Volume: 2,911
Put Volume: 3,743
P/C Volume: 1.286
NEUTRAL
Call OI: 33,524
Put OI: 55,367
P/C OI: 1.652
Total OI: 88,891

ATM Options Pricing

ATM Call: $11.45
ATM Put: $9.65
Call %: 5.3%
Put %: 4.5%

Chain Summary

Chain Volume: 6,654
Chain OI: 88,891
Last Updated: 11/9/2026
Spread Scanner
Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Calendars: the long leg is valued at the short leg’s expiration (Black-Scholes at its current IV) across the range of prices the short leg’s IV implies, giving the best-case profit (R/R = that over the debit) and P(profit).

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Scanning bull put, bear call, iron condor and calendar spreads…

Dealer Positioning
LOW γ vs HISTORY

Estimated net dealer gamma is at the 12th percentile of this name's own daily history, near the low end of its range. This describes current positioning; it is not a forecast or a trading signal.

Gamma percentile
12%
vs own history
GEX tilt
-0.24
OI-weighted, today
Vanna tilt
+0.70
δ-sensitivity to IV
Charm tilt
-0.76
δ-decay vs time
Vanna tilt +0.70: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.76: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.

Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.

Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.

Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.

This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.

· 124 ATM contracts, 38k total OI
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d 79%
+11.8 pts EXTREME
ATM 45.4% / Wing 57.2%
30 DTE / 10d 18%
+3.0 pts EXTREME
ATM 41.5% / Wing 44.5%

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Loading the implied volatility surface…

Volatility Smile

Loading the implied volatility smile…

IV Rank (7 DTE)39.6MediumNov 9
IV Rank (30 DTE)52.1MediumNov 9
Straddle Price (30 DTE)$21.10Nov 9
Beta Analysis

Risk Metrics

Beta: 1.0842
Alpha: -2.14%
Correlation: 0.3977
R-Squared: 15.8%
Stock Volatility: 37.5%
Market Volatility: 13.7%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days
Interpretation:
Above average volatility - stock moves with market amplification
Beta & Alpha Over Time
Notable investors who own HWM
6 of 37 tracked investors
InvestorValueShare of their portfolioRankQ/Q sharesSource
Citadel Hedge fund
Ken Griffin
$758.2M
0.44%
#19 of 6285+177.1%13F
Millennium Management Hedge fund
Izzy Englander
$236.1M
0.16%
#101 of 3716-36.6%13F
Renaissance Technologies Hedge fund
Jim Simons
$44.5M
0.06%
#371 of 3138-61.5%13F
Point72 Hedge fund
Steve Cohen
$30.2M
0.05%
#467 of 1945new13F
Rockefeller Capital Management Family office
Rockefeller family
$17.3M
0.03%
#529 of 4729-6.0%13F
Bridgewater Associates Hedge fund
Ray Dalio
$7.5M
0.03%
#391 of 997+20.8%13F

Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions

HWM Institutional Ownership (13F)

Filings for 2026-09-30
Diluted shares outstanding: 402,750,000 (as of 2026-09-30)

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

1,609 filers364,811,846 shares$96.31B value90.58% of float
# Filer Shares Value % of Total % of Float Period
1 BlackRock, Inc. Custodian 45,819,158 $12.32B 12.79% 11.38% 2026-06-30
2 Vanguard Capital Management LLC 26,136,434 $7.03B 7.30% 6.49% 2026-06-30
3 State Street Corp 18,933,928 $5.09B 5.29% 4.70% 2026-06-30
4 Vanguard Portfolio Management LLC 18,548,273 $4.99B 5.18% 4.61% 2026-06-30
5 JPMorgan Chase & Co Custodian 18,561,518 $4.99B 5.18% 4.61% 2026-06-30
6 FMR LLC Custodian 15,412,294 $4.14B 4.30% 3.83% 2026-06-30
7 T. Rowe Price Associates, Inc. 13,504,420 $3.63B 3.77% 3.35% 2026-06-30
8 Bank of America Corp Custodian 10,290,881 $2.77B 2.87% 2.56% 2026-06-30
9 Geode Capital Management, LLC Custodian 9,653,450 $2.18B 2.27% 2.40% 2026-09-30
10 Norges Bank 7,895,313 $2.12B 2.20% 1.96% 2026-06-30
11 Jupiter Topco LLC 7,680,827 $2.07B 2.14% 1.91% 2026-06-30
12 Invesco Ltd. Custodian 6,851,793 $1.84B 1.91% 1.70% 2026-06-30
13 Morgan Stanley Custodian 6,100,788 $1.64B 1.70% 1.51% 2026-06-30
14 KENSICO CAPITAL MANAGEMENT CORP 5,083,600 $1.37B 1.42% 1.26% 2026-06-30
15 Massachusetts Financial Services Co 4,971,798 $1.36B 1.41% 1.23% 2026-06-30
16 Nuveen, LLC Custodian 5,040,049 $1.36B 1.41% 1.25% 2026-06-30
17 Northern Trust Corp Custodian 3,741,760 $1.01B 1.04% 0.93% 2026-06-30
18 Goldman Sachs Group Inc Custodian 3,539,035 $951.51M 0.99% 0.88% 2026-06-30
19 American Century Companies, Inc. 3,285,142 $883.24M 0.92% 0.82% 2026-06-30
20 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Custodian 3,074,688 $826.66M 0.86% 0.76% 2026-06-30
21 Citadel Advisors LLC Custodian 2,819,959 $758.17M 0.79% 0.70% 2026-06-30
22 Bank of New York Mellon Corp Custodian 3,348,647 $757.40M 0.79% 0.83% 2026-09-30
23 Jane Street Group, LLC Custodian 2,706,771 $727.74M 0.76% 0.67% 2026-06-30
24 Ameriprise Financial, Inc. Custodian 2,682,736 $721.29M 0.75% 0.67% 2026-06-30
25 Capital Research Global Investors 2,440,644 $656.19M 0.68% 0.61% 2026-06-30
33 filers$503.81M notional
# Filer Notional Value % of Total Period
1 Susquehanna International Group, LLP Custodian $144.97M 28.77% 2026-06-30
2 Jane Street Group, LLC Custodian $92.00M 18.26% 2026-06-30
3 IMC-Chicago, LLC Custodian $69.73M 13.84% 2026-09-30
4 Citadel Advisors LLC Custodian $52.40M 10.40% 2026-06-30
5 PEAK6 LLC $23.61M 4.69% 2026-06-30
6 SCOPUS ASSET MANAGEMENT, L.P. $18.82M 3.74% 2026-06-30
7 GROUP ONE TRADING LLC Custodian $18.50M 3.67% 2026-06-30
8 Laurion Capital Management LP $11.54M 2.29% 2026-09-30
9 UBS Group AG Custodian $10.43M 2.07% 2026-06-30
10 Alphadyne Asset Management LP $7.96M 1.58% 2026-06-30
11 Millennium Management LLC Custodian $7.88M 1.56% 2026-06-30
12 Citigroup Inc. Custodian $6.79M 1.35% 2026-09-30
13 Simplex Trading, LLC Custodian $5.59M 1.11% 2026-09-30
14 TUDOR INVESTMENT CORP ET AL $4.54M 0.90% 2026-06-30
15 Barclays PLC Custodian $4.39M 0.87% 2026-09-30
16 Squarepoint Ops LLC $3.04M 0.60% 2026-06-30
17 Walleye Trading LLC $2.93M 0.58% 2026-06-30
18 Allianz Asset Management GmbH $2.85M 0.57% 2026-06-30
19 BNP Paribas Financial Markets Custodian $2.77M 0.55% 2026-06-30
20 CAPSTONE INVESTMENT ADVISORS, LLC $2.69M 0.53% 2026-06-30
21 Trexquant Investment LP $1.96M 0.39% 2026-06-30
22 SIG BROKERAGE, LP $1.88M 0.37% 2026-06-30
23 Two Sigma Investments, LP Custodian $1.59M 0.31% 2026-06-30
24 Walleye Capital LLC $1.51M 0.30% 2026-06-30
25 Point72 Asset Management, L.P. $1.16M 0.23% 2026-06-30
33 filers$729.78M notional
# Filer Notional Value % of Total Period
1 Susquehanna International Group, LLP Custodian $150.48M 20.62% 2026-06-30
2 Jane Street Group, LLC Custodian $126.04M 17.27% 2026-06-30
3 Barclays PLC Custodian $90.95M 12.46% 2026-09-30
4 Citigroup Inc. Custodian $69.80M 9.56% 2026-09-30
5 IMC-Chicago, LLC Custodian $69.32M 9.50% 2026-09-30
6 Caption Management, LLC $53.77M 7.37% 2026-06-30
7 Citadel Advisors LLC Custodian $41.89M 5.74% 2026-06-30
8 HBK INVESTMENTS L P $22.05M 3.02% 2026-06-30
9 RH Tailwind Management, LLC $21.51M 2.95% 2026-06-30
10 SCOPUS ASSET MANAGEMENT, L.P. $16.13M 2.21% 2026-06-30
11 Cavalier Investments, LLC $13.44M 1.84% 2026-06-30
12 Alphadyne Asset Management LP $12.07M 1.65% 2026-06-30
13 CAPSTONE INVESTMENT ADVISORS, LLC $7.31M 1.00% 2026-06-30
14 Allianz Asset Management GmbH $4.25M 0.58% 2026-06-30
15 Simplex Trading, LLC Custodian $4.18M 0.57% 2026-09-30
16 Millennium Management LLC Custodian $3.79M 0.52% 2026-06-30
17 Walleye Trading LLC $3.15M 0.43% 2026-06-30
18 BNP Paribas Financial Markets Custodian $2.93M 0.40% 2026-06-30
19 UBS Group AG Custodian $2.69M 0.37% 2026-06-30
20 SIG BROKERAGE, LP $2.63M 0.36% 2026-06-30
21 Trexquant Investment LP $2.58M 0.35% 2026-06-30
22 Squarepoint Ops LLC $1.83M 0.25% 2026-06-30
23 GROUP ONE TRADING LLC Custodian $1.42M 0.20% 2026-06-30
24 Point72 Asset Management, L.P. $1.34M 0.18% 2026-06-30
25 Two Sigma Investments, LP Custodian $1.32M 0.18% 2026-06-30

HWM Insider Trading (Form 4)

Latest: 2026-10-06
Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
Filed Reporter Role Action Shares Avg Price Net $ Link
2026-10-06 Joseph S Cantie Director Award (A) +156 $231.27 $36.1K EDGAR
2026-07-06 Joseph S Cantie Director Award (A) +134 $270.41 $36.2K EDGAR
2026-05-26 James F Albaugh Director Award (A) +731 — EDGAR
2026-05-26 Amy E Alving Director Award (A) +731 — EDGAR
2026-05-26 Sharon R Barner Director Award (A) +731 — EDGAR
2026-05-26 Joseph S Cantie Director Award (A) +731 — EDGAR
2026-05-26 Robert F Leduc Director Award (A) +731 — EDGAR
2026-05-26 Jody Miller Director Award (A) +731 — EDGAR
2026-05-26 Ulrich Schmidt Director Award (A) +731 — EDGAR
2026-05-26 Gunner Smith Director Award (A) +731 — EDGAR
2026-05-12 Neil Edward Marchuk EVP, CAO Sell (S) −41,932 $269.50 -$11.30M EDGAR
2026-04-17 Jonathan A Arena EVP, CL&CO and Secretary Award (A) +3,544 — EDGAR
2026-04-07 Joseph S Cantie Director Award (A) +155 $232.68 $36.1K EDGAR
2026-02-27 Barbara Lou Shultz Vice President and Controller Sell (S) −1,000 $260.00 -$260.0K EDGAR
2026-02-18 Michael Niem Chanatry Vice President Mixed
Tax −20,320 · Grant +2,693
 −17,627 $250.21 -$5.08M EDGAR
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.

HWM Insider Holdings

16 insiders · @ $215.61
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
# Insider Role Shares Disclosed Exposure Lifetime OM Net Filings Last Filed
1 John C Plant Executive Chairman & CEO 3,022,553 $651.69M -$119.59M 39 2026-02-18
2 Ken Giacobbe EVP and CFO 183,254 $39.51M -$17.40M 29 2025-05-09
3 Michael Niem Chanatry Vice President 175,388 $37.82M $0 50 2026-02-18
4 Neil Edward Marchuk EVP, CAO 65,115 $14.04M -$46.54M 29 2026-05-12
5 Lola Felice Lin EVP, CL&CO and Secretary 63,150 $13.62M -$3.27M 10 2025-08-06
6 James F Albaugh Director 59,442 $12.82M $272.2K 12 2026-05-26
7 Ulrich Schmidt Director 58,561 $12.63M $136.8K 19 2026-05-26
8 Amy E Alving Director 57,820 $12.47M $0 18 2026-05-26
9 Joseph S Cantie Director 44,238 $9.54M $0 34 2026-10-06
10 Robert F Leduc Director 35,824 $7.72M $0 25 2026-05-26
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.

HWM Board & Officers

As of SEC filings through Oct 6, 2026

Directors 9

Officers 6

Changes in the last 10 years (49)
Apr 13, 2026Jonathan A Arena became EVP, CL&CO and Secretary
Jan 5, 2026Neil Edward Marchuk listed as EVP, CAO (previously EVP, HR) in SEC filings
Dec 1, 2025Patrick Winterlich became EVP, CFO
Oct 20, 2025The company announced the departure of Ken Giacobbe as EVP and CFO in an SEC filing
Aug 15, 2025The company announced the departure of Lola Felice Lin as EVP, CL&CO and Secretary in an SEC filing
Sep 29, 2023Gunner Smith became a director
Apr 3, 2023John C Plant listed as Executive Chairman & CEO (previously Chief Executive Officer) in SEC filings
Mar 17, 2023The company announced the departure of Nicole Weyerhaeuser Piasecki from the board in an SEC filing
Feb 21, 2023Lola Felice Lin listed as EVP, CL&CO and Secretary (previously EVP, CLO and Secretary) in SEC filings
Jun 6, 2022Ken Giacobbe listed as EVP and CFO (previously Executive VP and CFO) in SEC filings
Mar 2, 2022Ken Giacobbe listed as Executive VP and CFO (previously EVP and CFO) in SEC filings
Dec 3, 2021Michael Niem Chanatry became Vice President
Oct 18, 2021John C Plant listed as Chief Executive Officer (previously Chairman and Co-CEO) in SEC filings
Sep 10, 2021Ken Giacobbe listed as EVP and CFO (previously Exec. VP and CFO) in SEC filings
Jul 2, 2021Lola Felice Lin became EVP, CLO and Secretary
May 25, 2021Barbara Lou Shultz became Vice President and Controller
Apr 1, 2021Sharon R Barner became a director
Jan 21, 2021Katherine H Ramundo listed as Executive Vice President (previously EVP, CLO and Corp Secretary) in SEC filings
Aug 10, 2020John C Plant listed as Chairman and Co-CEO (previously Co-Chief Executive Officer) in SEC filings
May 11, 2020Neil Edward Marchuk listed as EVP, HR (previously Executive Vice President) in SEC filings
Not reported recently (26)
  • David J Miller · Last reported as a director in an SEC filing dated May 29, 2024
  • Tolga I Oal · Last reported as a director in an SEC filing dated Oct 1, 2021
  • W Paul Myron · Last reported as Vice President and Controller in an SEC filing dated May 17, 2021
  • Katherine H Ramundo · Last reported as Executive Vice President in an SEC filing dated Jan 21, 2021
  • Timothy Donald Myers · Last reported as Executive Vice President in an SEC filing dated Feb 6, 2020
  • E Stanley Oneal · Last reported as a director in an SEC filing dated Jan 6, 2020
  • Sean O Mahoney · Last reported as a director in an SEC filing dated Jan 6, 2020
  • Elmer L Doty · Last reported as a director in an SEC filing dated Sep 24, 2019
  • Rajiv Gupta · Last reported as a director in an SEC filing dated May 20, 2019
  • Christopher L Ayers · Last reported as a director in an SEC filing dated May 20, 2019
  • Arthur D Collins Jr · Last reported as a director in an SEC filing dated Apr 3, 2019
  • David P Hess · Last reported as a director in an SEC filing dated Jan 24, 2019
  • Mark J Krakowiak · Last reported as EVP, Strategy and Development in an SEC filing dated Feb 16, 2018
  • Eric V Roegner · Last reported as Executive Vice President in an SEC filing dated Jan 24, 2018
  • Vasantha Nair · Last reported as Executive Vice President in an SEC filing dated Jan 23, 2018
  • Charles P Blankenship · Last reported as a director in an SEC filing dated Jan 23, 2018
  • Patricia F Russo · Last reported as a director in an SEC filing dated Jan 5, 2018
  • Patrice E Merrin · Last reported as a director in an SEC filing dated Oct 4, 2017
  • Julie Richardson · Last reported as a director in an SEC filing dated Jun 1, 2017
  • Ratan Tata · Last reported as a director in an SEC filing dated Apr 6, 2017
  • Leo Rafael Reif · Last reported as a director in an SEC filing dated Apr 6, 2017
  • Klaus Kleinfeld · Last reported as a director in an SEC filing dated Jan 19, 2017
  • Kay Meggers · Last reported as Executive Vice President in an SEC filing dated Jan 19, 2017
  • Christoph Kollatz · Last reported as Executive Vice President in an SEC filing dated Jan 18, 2017
  • Karl Tragl · Last reported as Executive Vice President in an SEC filing dated Jan 18, 2017
  • Martin Sorrell · Last reported as a director in an SEC filing dated Dec 2, 2016
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.

HWM Proposed Insider Sales (Form 144)

Latest: 2026-05-11
Last 30d: 0 filings  ·  Last 90d: 0 filings

What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.

How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.

10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.

"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.

Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.

Filed Filer Role Shares Notice Value Planned Sale Broker Plan Link
2026-05-11 Marchuk Neil Edward Officer 41,932 $11.30M 2026-05-11 Merrill Lynch — EDGAR
2026-02-26 Shultz Barbara Lou Officer 1,000 $260.0K 2026-02-26 Merrill Lynch — EDGAR
2026-02-18 Marchuk Neil Edward Officer 45,150 $11.36M 2026-02-18 Merrill Lynch — EDGAR
2026-02-18 Giacobbe Ken Officer 37,471 $9.46M 2026-02-18 Merrill Lynch — EDGAR
2026-02-17 Giacobbe Ken Officer 108,987 $27.40M 2026-02-17 Merrill Lynch — EDGAR
2025-08-05 LIN LOLA FELICE Officer 13,102 $2.37M 2025-08-05 Merrill Lynch — EDGAR
2025-05-12 John Plant Executive Chairman and CEO 800,000 $125.93M 2025-05-12 J.P. Morgan Securities LLC — EDGAR
2025-05-12 Marchuk Neil Edward Officer 30,000 $4.76M 2025-05-12 Merrill Lynch — EDGAR
2025-05-05 Shultz Barbara Lou Officer 1,250 $194.0K 2025-05-05 Merrill Lynch — EDGAR
2025-02-18 LIN LOLA FELICE Officer 6,620 $902.9K 2025-02-18 Merrill Lynch — EDGAR
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
Recent SEC Filings
Latest: 2026-10-29
Current reports — material events the company must disclose within 4 business days (earnings releases, M&A, executive changes, etc.).
Filing Date Event Link
2026-10-29 Earnings results EDGAR
2026-08-06 Earnings results EDGAR
2026-05-28 Other events EDGAR
2026-05-26 Shareholder vote results EDGAR
2026-05-07 Earnings results EDGAR
2026-04-06 Acquisition or sale completed EDGAR
2026-04-06 Regulation FD disclosure EDGAR
2026-03-10 Regulation FD disclosure EDGAR
2026-03-03 New debt obligation · Other events EDGAR
2026-02-17 Other events EDGAR
Annual report — audited financial statements, MD&A, risk factors. Filed 60–90 days after fiscal year-end.
Filing Date Accession Link
2026-02-12 0000004281-26-000012 EDGAR
2025-02-14 0000004281-25-000011 EDGAR
2024-02-13 0000004281-24-000007 EDGAR
2023-02-14 0000004281-23-000004 EDGAR
2022-02-14 0000004281-22-000004 EDGAR
2021-02-16 0000004281-21-000049 EDGAR
2020-02-27 0000004281-20-000038 EDGAR
2019-02-21 0000004281-19-000031 EDGAR
2018-02-26 0000004281-18-000042 EDGAR
Quarterly report — unaudited financials and MD&A. Filed 40–45 days after each of the first three fiscal quarters.
Filing Date Accession Link
2026-10-29 0000004281-26-000036 EDGAR
2026-08-06 0000004281-26-000025 EDGAR
2026-05-07 0000004281-26-000019 EDGAR
2025-10-30 0001628280-25-047584 EDGAR
2025-07-31 0000004281-25-000033 EDGAR
2025-05-01 0000004281-25-000019 EDGAR
2024-11-07 0000004281-24-000034 EDGAR
2024-07-30 0000004281-24-000026 EDGAR
2024-05-02 0000004281-24-000014 EDGAR
2023-11-02 0000004281-23-000020 EDGAR
ETF Holders
356 ETFs hold HWM
25 shown · $15.32B total exposure · 0.23% AUM-weighted avg weight
# ETF Provider Weight $ Exposure ETF AUM As Of
1 VTI Vanguard Morningstar Total Stock Market ETF Vanguard 0.12% $2.9B — 2026-09-30
2 VOO Vanguard S&P 500 ETF Vanguard 0.14% $2.4B — 2026-09-30
3 VO Vanguard Morningstar Mid-Cap ETF Vanguard 0.89% $1.9B — 2026-09-30
4 IVV iShares Core S&P 500 ETF iShares (BlackRock) 0.13% $1.1B $852.9B 2026-11-06
5 VUG Vanguard Morningstar Growth ETF Vanguard 0.26% $1.0B — 2026-09-30
6 SPY State Street® SPDR® S&P 500® ETF Trust SPDR (State Street) 0.13% $980.4M $777.7B 2026-11-05
7 VOT Vanguard Morningstar Mid-Cap Growth ETF Vanguard 2.13% $708.1M — 2026-09-30
8 JEPI JPMorgan Equity Premium Income ETF JPMorgan 1.21% $554.4M $45.2B 2026-11-06
9 ITA iShares U.S. Aerospace & Defense ETF iShares (BlackRock) 4.20% $491.5M $11.7B 2026-11-06
10 XLI State Street® Industrial Select Sector SPDR® ETF SPDR (State Street) 1.55% $461.8M $29.8B 2026-11-05
11 PAVE Global X U.S. Infrastructure Development ETF Global X 2.44% $315.7M — 2026-11-06
12 IWF iShares Russell 1000 Growth ETF iShares (BlackRock) 0.27% $309.7M $114.6B 2026-11-06
13 QUAL iShares MSCI USA Quality Factor ETF iShares (BlackRock) 0.61% $288.6M $47.6B 2026-11-06
14 PPA Invesco Aerospace & Defense ETF Invesco 3.77% $268.9M — 2026-11-05
15 BLCR iShares Large Cap Core Active ETF iShares (BlackRock) 2.51% $238.3M $9.5B 2026-11-06
16 SPYM State Street® SPDR® Portfolio S&P 500® ETF SPDR (State Street) 0.13% $224.5M $177.9B 2026-11-05
17 IVW iShares S&P 500 Growth ETF iShares (BlackRock) 0.24% $174.9M $71.7B 2026-11-06
18 RSP Invesco S&P 500 Equal Weight ETF Invesco 0.17% $173.6M — 2026-11-05
19 VONG Vanguard Russell 1000 Growth ETF Vanguard 0.26% $147.1M — 2026-09-30
20 XAR State Street® SPDR® S&P® Aerospace & Defense ETF SPDR (State Street) 2.81% $134.6M $4.8B 2026-11-05
21 SPYG State Street® SPDR® Portfolio S&P 500® Growth ETF SPDR (State Street) 0.24% $124.4M $51.8B 2026-11-05
22 VIS Vanguard Industrials ETF Vanguard 1.36% $116.5M — 2026-09-30
23 ITOT iShares Core S&P Total U.S. Stock Market ETF iShares (BlackRock) 0.11% $106.9M $93.2B 2026-11-06
24 VV Vanguard Morningstar Large-Cap ETF Vanguard 0.14% $106.3M — 2026-09-30
25 SCHX Schwab U.S. Large-Cap ETF Nport 0.14% $104.6M — 2026-08-31
Fundamentals

Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.

Metrics
  • Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
  • Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
  • Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
  • Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
  • Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
  • YoY growth — compare to the same quarter a year earlier to remove seasonality.
  • Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
  • Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.

TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.

Trailing P/E
42.24
TTM Diluted EPS
$5.11
TTM Revenue
$9.73B
TTM Net Income
$2.06B
TTM Op. Cash Flow
$2.40B
Quarterly figures (12 quarters)
QuarterPeriod EndRevenueNet IncomeDiluted EPSOp. Cash Flow
Q3 '262026-09-30$2.70B$567.00M$1.42$709.00M
Q2 '262026-06-30$2.55B$534.00M$1.33$583.00M
Q1 '262026-03-31$2.31B$580.00M$1.44$453.00M
Q4 '252025-12-31$2.17B$374.00M$0.92$654.00M
Q3 '252025-09-30$2.09B$384.00M$0.95$531.00M
Q2 '252025-06-30$2.05B$407.00M$1.00$446.00M
Q1 '252025-03-31$1.94B$344.00M$0.84$253.00M
Q4 '242024-12-31$1.89B$316.00M$0.77$480.00M
Q3 '242024-09-30$1.83B$331.00M$0.81$244.00M
Q2 '242024-06-30$1.88B$266.00M$0.65$397.00M
Q1 '242024-03-31$1.82B$243.00M$0.59$177.00M
Q4 '232023-12-31$1.73B$236.00M$0.56$458.00M
Q3 2026 • period ending 2026-09-30 • filed 2026-10-29
Valuation

Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.

Price Multiples
  • P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
  • P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
  • P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
  • EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
  • EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
  • ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
  • ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
  • Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
  • FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
  • Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
  • Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
  • Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
  • Multiples expanding while earnings are flat = sentiment-driven rally.
  • Multiples compressing while earnings grow = value coming from fundamentals.
P/E
42.24
P/B
15.21
P/S
9.56
EV/EBITDA
32.47
EV/Sales
9.95
ROE
32.7%
ROA
14.1%
Div Yield
0.25%
FCF Yield
2.55%
Debt/Equity
0.71
Current Ratio
—
Market Cap
$87.19B
as of 2026-11-09

HWM vs Peers

Related companies, largest first
Company Market cap P/E Revenue growth YTD IV rank
NVDA Nvidia Corp $4.51T 22.2 +83.4% −6.8% 87
MSFT Microsoft Corp $3.94T 28.5 +17.9% +15.3% 11
GOOGL Alphabet Inc. Class A Common Stock $3.50T 15.1 +22.2% −8.1% 47
AMZN Amazon.Com Inc $2.80T 21.7 +15.4% +18.3% 29
AVGO Broadcom Inc. Common Stock $1.40T 40.7 +48.7% −8.3% 81
GE GE Aerospace $335.4B 38.4 +19.6% +3.8% 51
RTX RTX Corporation $255.8B 31.7 +11.6% +4.4% 50
HWM Howmet Aerospace Inc. $81.8B 42.2 +22.0% +1.8% 52
Peer median $2.80T 28.5 +19.6% +3.8% 50

P/E uses the latest reported trailing-12-month diluted EPS; "—" means no positive earnings or no data.

Short Interest & Float

Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.

Metric definitions
  • Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
  • SI % of Float — short interest / free float. The key crowding metric.
  • Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
  • Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
  • Free Float — shares available for public trading (total shares minus insider / restricted).
  • Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
  • SI % of Float < 5% — typical, no particular signal.
  • 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
  • 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
  • >30% — extreme; borrow is likely expensive and squeeze risk is material.
  • Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
  • Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
  • A sudden drop in SI after a rally may indicate a squeeze in progress.

Short interest is reported mid-month and end-of-month; short volume is daily.

Short Interest
10.60M
SI % of Float
2.67%
Days to Cover
3.99
Short Vol Ratio
37.4%
Free Float
396.79M
Float %
99.2%
Short interest 2026-10-15 • Short volume 2026-11-06 • Float 2026-05-15