CenterBook Partners LP Has $1.05 Million Position in Constellium SE $CSTM

CenterBook Partners LP lessened its position in Constellium SE (NYSE:CSTM) by 37.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,927 shares of the industrial products company’s stock after selling 32,927 shares during the period. CenterBook Partners LP’s holdings in Constellium were worth $1,054,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in shares of Constellium by 6,985.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,488 shares of the industrial products company’s stock valued at $28,000 after buying an additional 1,467 shares during the period. Allworth Financial LP raised its stake in Constellium by 52.5% during the 4th quarter. Allworth Financial LP now owns 2,074 shares of the industrial products company’s stock worth $39,000 after buying an additional 714 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Constellium by 578.6% during the third quarter. EverSource Wealth Advisors LLC now owns 2,348 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 2,002 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Constellium by 29.7% during the fourth quarter. GAMMA Investing LLC now owns 3,089 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 707 shares in the last quarter. Finally, Quarry LP grew its stake in Constellium by 53.7% in the third quarter. Quarry LP now owns 5,610 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 1,960 shares during the period. 92.59% of the stock is owned by institutional investors.

Insider Buying and Selling at Constellium

In related news, insider Philippe Hoffmann sold 50,000 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $31.92, for a total transaction of $1,596,000.00. Following the completion of the transaction, the insider owned 144,153 shares in the company, valued at approximately $4,601,363.76. This represents a 25.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jack Q. Guo sold 25,201 shares of Constellium 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 sale, the chief financial officer owned 185,368 shares in the company, valued at $6,046,704.16. The trade was a 11.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 195,153 shares of company stock valued at $6,369,312 in the last three months. 1.20% of the stock is currently owned by insiders.

Constellium Stock Down 4.0%

NYSE:CSTM opened at $32.63 on Thursday. The stock has a 50-day simple moving average of $31.77 and a 200 day simple moving average of $25.33. Constellium SE has a 52-week low of $12.68 and a 52-week high of $36.99. The company has a market cap of $4.44 billion, a PE ratio of 10.56 and a beta of 1.55. 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 released its quarterly 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. Constellium had a return on equity of 46.22% and a net margin of 4.87%.The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the firm posted $0.26 EPS. The business’s revenue was up 24.4% on a year-over-year basis. On average, sell-side analysts expect that Constellium SE will post 3.34 EPS for the current fiscal year.

Constellium declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 12th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 8.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

CSTM has been the topic of a number of research analyst reports. UBS Group started coverage on Constellium in a research report on Tuesday, May 5th. They set a “buy” rating and a $38.00 price target on the stock. Zacks Research raised Constellium from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $40.00 target price on shares of Constellium in a report on Thursday, April 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Constellium in a report on Tuesday, May 26th. Finally, BMO Capital Markets set a $32.00 price objective on shares of Constellium and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus 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.