Hsbc Holdings PLC Grows Stake in Constellium SE $CSTM

Hsbc Holdings PLC boosted its holdings in shares of Constellium SE (NYSE:CSTM) by 28.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 73,436 shares of the industrial products company’s stock after purchasing an additional 16,164 shares during the quarter. Hsbc Holdings PLC owned about 0.05% of Constellium worth $1,382,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in Constellium by 6,985.7% during 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 in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Constellium by 578.6% in the third quarter. EverSource Wealth Advisors LLC now owns 2,348 shares of the industrial products company’s stock worth $35,000 after buying an additional 2,002 shares in the last quarter. Allworth Financial LP lifted its holdings in shares of Constellium by 52.5% in the fourth 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 in the last quarter. GAMMA Investing LLC boosted its position in shares of 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 during the last quarter. Finally, Quarry LP boosted its position in shares of Constellium by 53.7% during the third quarter. Quarry LP now owns 5,610 shares of the industrial products company’s stock worth $83,000 after acquiring an additional 1,960 shares during the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Constellium Stock Up 2.2%

Shares of CSTM opened at $31.84 on Wednesday. The company has a market cap of $4.33 billion, a PE ratio of 10.30 and a beta of 1.55. The business has a fifty day moving average of $33.17 and a 200 day moving average of $26.97. Constellium SE has a 52-week low of $13.04 and a 52-week high of $36.99. The company has a quick ratio of 0.60, a current ratio of 1.39 and a debt-to-equity ratio of 1.71.

Constellium (NYSE:CSTM) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.80. Constellium had a net margin of 4.87% and a return on equity of 46.22%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter in the previous year, the business posted $0.26 earnings per share. The business’s revenue was up 24.4% compared to the same quarter last year. On average, sell-side analysts expect that Constellium SE will post 3.34 EPS for the current year.

Constellium announced that its board has authorized a share repurchase program on Thursday, March 12th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 8.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, SVP Marcus Becker sold 10,391 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $34.93, for a total transaction of $362,957.63. Following the transaction, the senior vice president owned 16,784 shares of the company’s stock, valued at approximately $586,265.12. This represents a 38.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Ludovic Piquier sold 1,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $33.57, for a total value of $33,570.00. Following the completion of the sale, the senior vice president owned 241,713 shares in the company, valued at approximately $8,114,305.41. The trade was a 0.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 195,153 shares of company stock worth $6,369,312 over the last three months. 1.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CSTM has been the topic of a number of research reports. UBS Group initiated coverage on shares of Constellium in a report on Tuesday, May 5th. They issued a “buy” rating and a $38.00 price target on the stock. BMO Capital Markets set a $32.00 price objective on shares of Constellium and gave the company an “outperform” rating in a report on Thursday, April 9th. Wells Fargo & Company raised their price objective on Constellium from $35.00 to $39.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $34.00 target price (up from $30.00) on shares of Constellium in a report on Thursday, April 30th. Finally, Zacks Research upgraded Constellium from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $36.60.

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.