Millennium Management LLC Reduces Stock Holdings in Constellium NV (NYSE:CSTM)

Millennium Management LLC lowered its holdings in Constellium NV (NYSE:CSTM) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,842,096 shares of the industrial products company’s stock after selling 69,550 shares during the quarter. Millennium Management LLC owned 1.34% of Constellium worth $23,413,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its position in Constellium by 24.9% in the 1st quarter. FMR LLC now owns 4,166,800 shares of the industrial products company’s stock worth $33,251,000 after purchasing an additional 829,800 shares in the last quarter. Anchor Bolt Capital LP purchased a new position in Constellium in the second quarter valued at $7,754,000. SkyTop Capital Management LLC raised its position in shares of Constellium by 53.7% in the second quarter. SkyTop Capital Management LLC now owns 1,766,717 shares of the industrial products company’s stock worth $17,738,000 after acquiring an additional 616,919 shares during the period. Diameter Capital Partners LP raised its position in shares of Constellium by 37.8% in the second quarter. Diameter Capital Partners LP now owns 2,067,975 shares of the industrial products company’s stock worth $20,762,000 after acquiring an additional 567,672 shares during the period. Finally, Boussard & Gavaudan Investment Management LLP boosted its stake in shares of Constellium by 18.8% during the 3rd quarter. Boussard & Gavaudan Investment Management LLP now owns 3,326,775 shares of the industrial products company’s stock worth $42,333,000 after acquiring an additional 526,482 shares in the last quarter. Hedge funds and other institutional investors own 83.15% of the company’s stock.

CSTM has been the topic of a number of analyst reports. ValuEngine cut Constellium from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th. Credit Suisse Group upped their price target on Constellium from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th.

Shares of NYSE:CSTM opened at $13.76 on Tuesday. The business’s 50 day moving average price is $13.95 and its 200-day moving average price is $11.77. Constellium NV has a 1 year low of $6.26 and a 1 year high of $14.80. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 128.54 and a beta of 1.82.

Constellium (NYSE:CSTM) last issued its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.27). The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Constellium had a negative return on equity of 12.92% and a negative net margin of 0.28%. Constellium’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.54 EPS. As a group, analysts forecast that Constellium NV will post 0.37 earnings per share for the current year.

Constellium Company Profile

Constellium N.V. engages in the design, manufacture, and sale of specialty rolled and extruded aluminum products for the aerospace, packaging, and automotive end-markets. The company operates in three segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry.

Further Reading: Market Capitalization

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Institutional Ownership by Quarter for Constellium (NYSE:CSTM)

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