Howmet Aerospace (HWM) Rose as Results Exceeded Expectations (www.insidermonkey.com)

Delaware Funds by

, an investment management company, released its “Delaware Ivy Core Equity Fund” Q3 2024 investor letter. A copy of the letter can be downloaded here. The S&P 500® Index rose 5.9% in the third quarter, indicating continuing gains in the US large-cap equity market. Delaware Ivy Core Equity Fund Class I shares outperformed the Fund’s benchmark, the S&P 500 Index in the third quarter. Stock selection drove all of the relative outperformance compared with the Fund’s benchmark, while sector allocation was neutral to relative performance. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Delaware Ivy Core Equity Fund highlighted stocks like Howmet Aerospace Inc. (NYSE:HWM), in the third quarter 2024 investor letter. Howmet Aerospace Inc. (NYSE:HWM) offers advanced engineered solutions for the aerospace and transportation industries that operate through Engine Products, Fastening Systems, Engineered Structures, and Forged Wheels segments. The one-month return of Howmet Aerospace Inc. (NYSE:HWM) was -4.94%, and its shares gained 107.93% of their value over the last 52 weeks. On December 26, 2024, Howmet Aerospace Inc. (NYSE:HWM) stock closed at $112.53 per share with a market capitalization of $45.717 billion.

Delaware Ivy Core Equity Fund stated the following regarding Howmet Aerospace Inc. (NYSE:HWM) in its Q3 2024 investor letter:

“Howmet Aerospace Inc. (NYSE:HWM) – Though recovery in large airplane manufacturing is uneven due to supply constraints (affecting both Boeing and Airbus), this manufacturer of airframe and jet-engine components was a prime beneficiary of higher production rates across the industry in addition to higher content per engine. Second-quarter earnings surprised materially to the upside.”

Howmet Aerospace Inc. (NYSE:HWM) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 45 hedge fund portfolios held Howmet Aerospace Inc. (NYSE:HWM) at the end of the third quarter which was 45 in the previous quarter. In the third quarter, Howmet Aerospace Inc. (NYSE:HWM) delivered 11% year-over-year revenue growth, following a robust 14% increase in the first half. While we acknowledge the potential of Howmet Aerospace Inc. (NYSE:HWM) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In another article, we discussed Howmet Aerospace Inc. (NYSE:HWM) and shared Hardman Johnston Global Equity’s views on the company. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading…

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