Engineers Gate Manager LP Has $19.78 Million Position in Constellium SE $CSTM

Engineers Gate Manager LP grew its position in Constellium SE (NYSE:CSTM) by 36.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,049,218 shares of the industrial products company’s stock after buying an additional 279,834 shares during the quarter. Engineers Gate Manager LP’s holdings in Constellium were worth $19,778,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Millennium Management LLC raised its position in shares of Constellium by 35.4% in the 3rd quarter. Millennium Management LLC now owns 6,935,766 shares of the industrial products company’s stock valued at $103,204,000 after buying an additional 1,813,400 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Constellium by 22.9% in the 4th quarter. Vanguard Group Inc. now owns 4,054,982 shares of the industrial products company’s stock valued at $76,436,000 after buying an additional 755,918 shares in the last quarter. Morgan Stanley raised its position in shares of Constellium by 48.4% in the 4th quarter. Morgan Stanley now owns 3,728,118 shares of the industrial products company’s stock valued at $70,275,000 after buying an additional 1,216,516 shares in the last quarter. State Street Corp raised its position in shares of Constellium by 3.6% in the 4th quarter. State Street Corp now owns 2,660,518 shares of the industrial products company’s stock valued at $50,151,000 after buying an additional 92,955 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Constellium by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,407,597 shares of the industrial products company’s stock valued at $35,825,000 after buying an additional 236,264 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Constellium news, SVP Martin Jarrett sold 4,716 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $33.46, for a total transaction of $157,797.36. Following the sale, the senior vice president directly owned 15,375 shares of the company’s stock, valued at $514,447.50. The trade was a 23.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Ludovic Piquier sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $33.57, for a total transaction of $33,570.00. Following the sale, the senior vice president directly owned 241,713 shares in the company, valued at $8,114,305.41. The trade was a 0.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 195,153 shares of company stock valued at $6,369,312. 1.20% of the stock is currently owned by insiders.

Constellium Stock Performance

NYSE CSTM opened at $33.71 on Thursday. The firm’s fifty day moving average price is $32.53 and its two-hundred day moving average price is $25.99. The stock has a market cap of $4.59 billion, a PE ratio of 10.91 and a beta of 1.55. Constellium SE has a fifty-two week low of $12.68 and a fifty-two week high of $36.99. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.60 and a current ratio of 1.39.

Constellium (NYSE:CSTM) last posted its earnings results on Wednesday, April 29th. The industrial products company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.80. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Constellium had a net margin of 4.87% and a return on equity of 46.22%. The company’s revenue was up 24.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share. On average, equities analysts expect that Constellium SE will post 3.34 EPS for the current fiscal year.

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. UBS Group assumed coverage on shares of Constellium in a research report on Tuesday, May 5th. They issued a “buy” rating and a $38.00 target price for the company. Zacks Research upgraded shares of Constellium from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $40.00 target price on shares of Constellium in a research report on Thursday, April 30th. Wells Fargo & Company upped their price objective on shares of Constellium from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings raised shares of Constellium from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Constellium currently has an average rating of “Buy” and an average target price of $36.60.

Constellium 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.