Lazard Asset Management LLC Invests $2.14 Million in Constellium SE $CSTM

Lazard Asset Management LLC bought a new position in shares of Constellium SE (NYSE:CSTM) during the 1st quarter, HoldingsChannel reports. The firm bought 87,095 shares of the industrial products company’s stock, valued at approximately $2,141,000.

Other hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in Constellium by 35.4% in the third 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 during the last quarter. Encompass Capital Advisors LLC grew its stake in shares of Constellium by 9.2% during the fourth quarter. Encompass Capital Advisors LLC now owns 4,657,915 shares of the industrial products company’s stock worth $87,802,000 after acquiring an additional 393,640 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Constellium by 22.9% during the fourth quarter. Vanguard Group Inc. now owns 4,054,982 shares of the industrial products company’s stock worth $76,436,000 after acquiring an additional 755,918 shares during the last quarter. Morgan Stanley increased its holdings in shares of Constellium by 48.4% during the fourth quarter. Morgan Stanley now owns 3,728,118 shares of the industrial products company’s stock valued at $70,275,000 after acquiring an additional 1,216,516 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Constellium by 620.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,228,027 shares of the industrial products company’s stock valued at $79,345,000 after acquiring an additional 2,780,260 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CSTM shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $34.00 price objective (up from $30.00) on shares of Constellium in a research report on Thursday, April 30th. UBS Group dropped their target price on shares of Constellium from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft set a $39.00 price target on shares of Constellium in a research note on Thursday. BMO Capital Markets set a $32.00 price objective on shares of Constellium and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Finally, Weiss Ratings downgraded shares of Constellium from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.80.

Insider Activity at Constellium

In related news, CFO Jack Q. Guo sold 25,201 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $32.62, for a total transaction of $822,056.62. Following the completion of the transaction, the chief financial officer owned 185,368 shares of the company’s stock, valued at $6,046,704.16. This trade represents a 11.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nicolas Brun sold 26,661 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $33.85, for a total transaction of $902,474.85. Following the transaction, the senior vice president owned 104,891 shares of the company’s stock, valued at $3,550,560.35. This represents a 20.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 91,369 shares of company stock worth $3,051,536 in the last ninety days. 1.20% of the stock is owned by company insiders.

Constellium Trading Down 0.3%

Shares of NYSE:CSTM opened at $27.69 on Monday. Constellium SE has a 52-week low of $13.04 and a 52-week high of $36.99. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 7.14 and a beta of 1.57. The company has a quick ratio of 0.61, a current ratio of 1.43 and a debt-to-equity ratio of 1.50. The business has a 50-day moving average price of $31.73 and a 200-day moving average price of $28.57.

Constellium (NYSE:CSTM) last issued its earnings results on Wednesday, July 29th. The industrial products company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.18. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.73 billion. Constellium had a return on equity of 51.66% and a net margin of 5.69%.Constellium’s revenue for the quarter was up 30.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Equities analysts predict that Constellium SE will post 3.7 EPS for the current year.

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.