Constellium (NYSE:CSTM) Stock Price Up 9.9% – Here’s What Happened

Constellium SE (NYSE:CSTM) shares traded up 9.9% during mid-day trading on Wednesday . The stock traded as high as $27.22 and last traded at $27.0030. 1,667,246 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 2,099,602 shares. The stock had previously closed at $24.58.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Zacks Research raised shares of 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 report on Thursday, February 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Constellium in a research report on Monday, December 29th. BMO Capital Markets raised their price objective on Constellium from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Finally, JPMorgan Chase & Co. boosted their target price on Constellium from $26.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $29.00.

Constellium Stock Performance

The firm’s 50-day moving average price is $24.41 and its two-hundred day moving average price is $19.68. The firm has a market capitalization of $3.66 billion, a PE ratio of 14.11 and a beta of 1.48. 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 issued its quarterly earnings results on Thursday, February 19th. 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 business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the firm earned ($0.34) EPS. The firm’s quarterly revenue was up 27.9% on a year-over-year basis. As a group, research analysts predict that Constellium SE will post 1.1 earnings per share for the current fiscal year.

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

Insider Activity

In other news, insider Philippe Hoffmann sold 4,728 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $25.87, for a total value of $122,313.36. Following the completion of the sale, the insider directly owned 182,120 shares of the company’s stock, valued at $4,711,444.40. This represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Philip Ryan Jurkovic sold 29,900 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $25.87, for a total transaction of $773,513.00. Following the sale, the senior vice president owned 210,723 shares of the company’s stock, valued at approximately $5,451,404.01. This represents a 12.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 214,543 shares of company stock worth $5,565,129.

Institutional Investors Weigh In On Constellium

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its stake in shares of 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 during the period. Allworth Financial LP increased its stake 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 acquiring an additional 714 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of 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 boosted its position in Constellium by 29.7% during the fourth quarter. GAMMA Investing LLC now owns 3,089 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 707 shares during the last quarter. Finally, Quarry LP boosted its position in Constellium by 53.7% during the third quarter. Quarry LP now owns 5,610 shares of the industrial products company’s stock valued at $83,000 after purchasing an additional 1,960 shares during the last quarter. Hedge funds and other institutional investors own 92.59% 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.