JPMorgan Chase & Co. Increases Stake in Constellium SE $CSTM

JPMorgan Chase & Co. boosted its holdings in shares of Constellium SE (NYSE:CSTM) by 10.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,407,597 shares of the industrial products company’s stock after buying an additional 236,264 shares during the quarter. JPMorgan Chase & Co.’s holdings in Constellium were worth $35,825,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC increased its position in shares of Constellium by 35.4% during the third quarter. Millennium Management LLC now owns 6,935,766 shares of the industrial products company’s stock worth $103,204,000 after acquiring an additional 1,813,400 shares during the period. Encompass Capital Advisors LLC boosted its holdings in Constellium by 59.7% in the second quarter. Encompass Capital Advisors LLC now owns 5,362,760 shares of the industrial products company’s stock valued at $71,325,000 after purchasing an additional 2,005,216 shares during the period. Vanguard Group Inc. grew its stake in Constellium by 39.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,299,064 shares of the industrial products company’s stock worth $49,090,000 after purchasing an additional 938,155 shares in the last quarter. Soapstone Management L.P. grew its stake in Constellium by 12.6% during the 2nd quarter. Soapstone Management L.P. now owns 1,776,559 shares of the industrial products company’s stock worth $23,628,000 after purchasing an additional 199,360 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Constellium by 14.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,730,112 shares of the industrial products company’s stock worth $23,008,000 after purchasing an additional 214,987 shares during the period. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Analyst Ratings Changes

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

Constellium Price Performance

CSTM stock opened at $22.36 on Friday. The business has a 50 day moving average price of $24.15 and a 200 day moving average price of $19.17. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of 11.58 and a beta of 1.48. Constellium SE has a fifty-two week low of $7.32 and a fifty-two week high of $27.41. The company has a quick ratio of 0.51, a current ratio of 1.29 and a debt-to-equity ratio of 1.96.

Constellium (NYSE:CSTM) last announced its quarterly earnings results on Wednesday, February 18th. The industrial products company reported $0.80 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.05 billion. During the same period in the prior year, the firm posted ($0.34) earnings per share. The firm’s revenue was up 27.9% on a year-over-year basis. Equities research analysts anticipate that Constellium SE will post 1.1 earnings per share for the current fiscal year.

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

Insiders Place Their Bets

In other news, SVP Philip Ryan Jurkovic sold 29,900 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $25.87, for a total value of $773,513.00. Following the completion of the transaction, the senior vice president owned 210,723 shares in the company, valued at approximately $5,451,404.01. This represents a 12.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Philippe Hoffmann sold 80,000 shares of Constellium stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $26.45, for a total transaction of $2,116,000.00. Following the sale, the insider owned 55,425 shares in the company, valued at $1,465,991.25. This represents a 59.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 214,543 shares of company stock worth $5,565,129. 1.54% of the stock is currently owned by company insiders.

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.