Constellium (NYSE:CSTM) Director Sells $280,080.00 in Stock

Constellium SE (NYSE:CSTM) Director John Ormerod sold 8,000 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $35.01, for a total transaction of $280,080.00. Following the completion of the sale, the director directly owned 24,873 shares in the company, valued at $870,803.73. This trade represents a 24.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Constellium Stock Down 4.0%

CSTM stock opened at $32.63 on Thursday. The firm’s fifty day simple moving average is $31.77 and its 200-day simple moving average is $25.33. Constellium SE has a 12 month low of $12.68 and a 12 month high of $36.99. The company has a market capitalization of $4.44 billion, a P/E ratio of 10.56 and a beta of 1.55. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.39 and a quick ratio of 0.60.

Constellium (NYSE:CSTM) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.42 EPS for the quarter, beating the consensus estimate of $0.62 by $0.80. Constellium had a net margin of 4.87% and a return on equity of 46.22%. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the business earned $0.26 earnings per share. The firm’s revenue was up 24.4% on a year-over-year basis. As a group, equities research analysts forecast that Constellium SE will post 3.34 earnings per share for the current year.

Constellium announced that its board has initiated a stock repurchase program on Thursday, March 12th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 8.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and set a $34.00 target price (up from $30.00) on shares of Constellium in a research note on Thursday, April 30th. Zacks Research raised shares of Constellium from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Wells Fargo & Company increased their target price on shares of Constellium from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $40.00 target price on shares of Constellium in a research note on Thursday, April 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Constellium in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $36.60.

Hedge Funds Weigh In On Constellium

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in Constellium by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 2,407,597 shares of the industrial products company’s stock valued at $35,825,000 after purchasing an additional 236,264 shares in the last quarter. GW&K Investment Management LLC purchased a new position in Constellium during the third quarter valued at $2,381,000. Algert Global LLC lifted its holdings in Constellium by 71.8% during the third quarter. Algert Global LLC now owns 595,676 shares of the industrial products company’s stock valued at $8,864,000 after purchasing an additional 249,020 shares in the last quarter. Danske Bank A S purchased a new position in Constellium during the fourth quarter valued at $8,239,000. Finally, Cannell & Spears LLC lifted its holdings in Constellium by 5.2% during the third quarter. Cannell & Spears LLC now owns 1,557,835 shares of the industrial products company’s stock valued at $23,181,000 after purchasing an additional 77,703 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Constellium Company Profile

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.