Hudson Bay Capital Management LP Decreases Stake in Constellium SE $CSTM

Hudson Bay Capital Management LP lessened its stake in shares of Constellium SE (NYSE:CSTM) by 39.6% during the 3rd quarter, Holdings Channel reports. The firm owned 307,487 shares of the industrial products company’s stock after selling 201,809 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Constellium were worth $4,575,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC acquired a new stake in shares of Constellium during the third quarter worth $2,876,000. Geode Capital Management LLC increased its position in shares of Constellium by 14.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,730,112 shares of the industrial products company’s stock valued at $23,008,000 after acquiring an additional 214,987 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Constellium by 89.1% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 121,720 shares of the industrial products company’s stock valued at $1,811,000 after acquiring an additional 57,337 shares during the period. Knights of Columbus Asset Advisors LLC purchased a new position in Constellium in the 3rd quarter worth $1,969,000. Finally, SG Americas Securities LLC lifted its position in Constellium by 97.2% during the 3rd quarter. SG Americas Securities LLC now owns 889,288 shares of the industrial products company’s stock worth $13,233,000 after acquiring an additional 438,412 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CSTM shares. Zacks Research upgraded Constellium from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Constellium in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft upped their target price on Constellium from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Wells Fargo & Company raised their price target on shares of Constellium from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, February 19th. Finally, BMO Capital Markets lifted their price objective on shares of Constellium from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Constellium has an average rating of “Buy” and a consensus target price of $29.00.

Constellium Stock Performance

Shares of NYSE CSTM opened at $22.36 on Friday. The company has a market capitalization of $3.02 billion, a PE ratio of 11.58 and a beta of 1.48. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.51 and a current ratio of 1.29. The company’s fifty day moving average price is $24.15 and its 200 day moving average price is $19.17. Constellium SE has a 1 year low of $7.32 and a 1 year high of $27.41.

Constellium (NYSE:CSTM) last released its quarterly earnings data on Wednesday, February 18th. The industrial products company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.44. Constellium had a net margin of 3.23% and a return on equity of 32.14%. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the company earned ($0.34) earnings per share. The firm’s revenue for the quarter was up 27.9% on a year-over-year basis. On average, research analysts predict that Constellium SE will post 1.1 earnings per share for the current year.

Constellium announced that its board has initiated a share repurchase plan on Thursday, March 12th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 8.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Constellium

In related news, CFO Jack Q. Guo sold 41,717 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $25.87, for a total value of $1,079,218.79. Following the completion of the transaction, the chief financial officer owned 190,879 shares of the company’s stock, valued at approximately $4,938,039.73. This represents a 17.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Nicolas Brun sold 17,701 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $24.67, for a total value of $436,683.67. Following the transaction, the senior vice president owned 103,466 shares in the company, valued at $2,552,506.22. This represents a 14.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 214,543 shares of company stock worth $5,565,129 over the last quarter. Company insiders own 1.54% of the company’s stock.

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.