Constellium (NYSE:CSTM) Hits New 12-Month High – Here’s Why

Constellium SE (NYSE:CSTM) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $20.29 and last traded at $20.3570, with a volume of 116899 shares changing hands. The stock had previously closed at $20.00.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CSTM. Wells Fargo & Company lifted their price objective on Constellium from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $25.00 price target on shares of Constellium in a research note on Thursday. Wall Street Zen upgraded shares of Constellium from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. lifted their target price on shares of Constellium from $17.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Constellium in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Constellium currently has a consensus rating of “Hold” and an average target price of $21.33.

Constellium Stock Up 2.8%

The company has a current ratio of 1.28, a quick ratio of 0.54 and a debt-to-equity ratio of 2.29. The stock has a market capitalization of $2.87 billion, a P/E ratio of 26.35 and a beta of 1.52. The firm’s fifty day moving average is $17.50 and its 200-day moving average is $15.60.

Constellium (NYSE:CSTM) last posted its quarterly earnings data on Wednesday, October 29th. The industrial products company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.25. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $1.79 billion. Constellium had a net margin of 1.42% and a return on equity of 14.33%. The company’s revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted $0.02 earnings per share. As a group, equities research analysts predict that Constellium SE will post 1.1 earnings per share for the current year.

Institutional Trading of Constellium

A number of hedge funds and other institutional investors have recently made changes to their positions in CSTM. Millennium Management LLC lifted its position in Constellium by 35.4% during the 3rd quarter. Millennium Management LLC now owns 6,935,766 shares of the industrial products company’s stock worth $103,204,000 after buying an additional 1,813,400 shares in the last quarter. Encompass Capital Advisors LLC raised its stake in shares of Constellium by 59.7% in the second quarter. Encompass Capital Advisors LLC now owns 5,362,760 shares of the industrial products company’s stock worth $71,325,000 after acquiring an additional 2,005,216 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Constellium by 39.7% in the third quarter. Vanguard Group Inc. now owns 3,299,064 shares of the industrial products company’s stock worth $49,090,000 after acquiring an additional 938,155 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Constellium by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 2,407,597 shares of the industrial products company’s stock worth $35,825,000 after purchasing an additional 236,264 shares in the last quarter. Finally, Soapstone Management L.P. grew its stake in shares of Constellium by 12.6% during the second quarter. Soapstone Management L.P. now owns 1,776,559 shares of the industrial products company’s stock valued at $23,628,000 after purchasing an additional 199,360 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

About Constellium

Constellium SE is a global leader in the design and manufacture of high-performance aluminum products and solutions. The company serves key markets including aerospace, automotive, and packaging, offering advanced rolled and extruded aluminum sheet, plate and structural components. Its product portfolio encompasses precision-engineered parts for commercial and military aircraft, automotive body structures and closures, beverage and specialty packaging, as well as industrial and structural applications.

Established in 2011 through the consolidation of Rio Tinto Alcan’s rolled-products and engineered-products businesses, Constellium has built a reputation for innovation in lightweighting and sustainability.