Moore Capital Management LP Sells 294,088 Shares of Constellium SE $CSTM

Moore Capital Management LP trimmed its stake in shares of Constellium SE (NYSE:CSTM) by 25.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 857,954 shares of the industrial products company’s stock after selling 294,088 shares during the quarter. Moore Capital Management LP’s holdings in Constellium were worth $16,172,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CSTM. Millennium Management LLC boosted its position in shares of Constellium by 35.4% in the third quarter. Millennium Management LLC now owns 6,935,766 shares of the industrial products company’s stock valued at $103,204,000 after acquiring an additional 1,813,400 shares during the period. Encompass Capital Advisors LLC boosted its position in shares of Constellium by 9.2% in the fourth quarter. Encompass Capital Advisors LLC now owns 4,657,915 shares of the industrial products company’s stock valued at $87,802,000 after acquiring an additional 393,640 shares during the period. Vanguard Group Inc. boosted its position in shares of Constellium by 22.9% in the fourth quarter. Vanguard Group Inc. now owns 4,054,982 shares of the industrial products company’s stock valued at $76,436,000 after acquiring an additional 755,918 shares during the period. Morgan Stanley boosted its position in shares of Constellium by 48.4% in the fourth quarter. Morgan Stanley now owns 3,728,118 shares of the industrial products company’s stock valued at $70,275,000 after acquiring an additional 1,216,516 shares during the period. Finally, State Street Corp boosted its position in shares of Constellium by 3.6% in the fourth quarter. State Street Corp now owns 2,660,518 shares of the industrial products company’s stock valued at $50,151,000 after acquiring an additional 92,955 shares during the period. Institutional investors own 92.59% of the company’s stock.

Constellium Stock Down 1.4%

CSTM stock opened at $33.71 on Thursday. The company has a market cap of $4.59 billion, a PE ratio of 10.91 and a beta of 1.55. The business has a 50-day simple moving average of $32.53 and a 200 day simple moving average of $25.99. Constellium SE has a 52 week low of $12.68 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 results on Wednesday, April 29th. The industrial products company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.80. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.43 billion. Constellium had a return on equity of 46.22% and a net margin of 4.87%.Constellium’s revenue for the quarter was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Sell-side analysts anticipate that Constellium SE will post 3.34 EPS for the current fiscal year.

Constellium declared that its Board of Directors has approved a stock buyback program on Thursday, March 12th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 8.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CSTM shares. Wells Fargo & Company boosted their target price on shares of 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. reissued a “neutral” rating and issued a $34.00 target price (up from $30.00) on shares of Constellium in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $40.00 target price on shares of Constellium in a research report on Thursday, April 30th. BMO Capital Markets set a $32.00 target price on shares of Constellium and gave the company an “outperform” rating in a research report on Thursday, April 9th. Finally, Weiss Ratings raised Constellium from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, June 12th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $36.60.

Insider Activity

In other Constellium news, Director Michiel Brandjes sold 10,400 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $31.25, for a total transaction of $325,000.00. Following the completion of the transaction, the director owned 41,600 shares of the company’s stock, valued at approximately $1,300,000. The trade was a 20.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Philip Ryan Jurkovic sold 48,784 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $32.01, for a total value of $1,561,575.84. Following the transaction, the senior vice president directly owned 172,149 shares of the company’s stock, valued at approximately $5,510,489.49. The trade was a 22.08% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 195,153 shares of company stock valued at $6,369,312. Corporate insiders own 1.20% of the company’s stock.

Constellium Company 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.