Engineers Gate Manager LP Sells 686,406 Shares of Constellium SE $CSTM

Engineers Gate Manager LP cut its holdings in Constellium SE (NYSE:CSTM) by 77.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 197,697 shares of the industrial products company’s stock after selling 686,406 shares during the period. Engineers Gate Manager LP owned about 0.15% of Constellium worth $6,301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CSTM. Royal Bank of Canada grew its position in Constellium by 5.3% during the first quarter. Royal Bank of Canada now owns 72,526 shares of the industrial products company’s stock valued at $732,000 after buying an additional 3,629 shares during the period. AQR Capital Management LLC boosted its stake in Constellium by 354.0% in the first quarter. AQR Capital Management LLC now owns 91,566 shares of the industrial products company’s stock valued at $924,000 after acquiring an additional 71,396 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Constellium by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,021 shares of the industrial products company’s stock valued at $777,000 after acquiring an additional 3,393 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of Constellium during the 2nd quarter valued at approximately $218,000. Finally, Norges Bank bought a new position in shares of Constellium during the 2nd quarter valued at approximately $1,499,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Constellium news, Director Jean-Christophe Deslarzes acquired 1,490 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was bought at an average price of $27.24 per share, with a total value of $40,587.60. Following the completion of the acquisition, the director owned 43,515 shares of the company’s stock, valued at $1,185,348.60. This trade represents a 3.55% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CSTM shares. Wells Fargo & Company lifted their price target on shares of Constellium from $37.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, July 30th. Zacks Research upgraded Constellium from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 7th. UBS Group lowered their target price on Constellium from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Weiss Ratings cut Constellium from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft set a $39.00 price target on Constellium in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Constellium presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.80.

Constellium Stock Performance

NYSE:CSTM opened at $26.21 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.61 and a current ratio of 1.43. Constellium SE has a 52-week low of $14.39 and a 52-week high of $36.99. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 6.76 and a beta of 1.55. The business’s fifty day moving average is $28.27 and its 200 day moving average is $29.43.

Constellium (NYSE:CSTM) last announced its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.18. Constellium had a net margin of 5.69% and a return on equity of 51.66%. The firm had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same period in the prior year, the firm posted $0.25 earnings per share. The company’s revenue for the quarter was up 30.7% on a year-over-year basis. Research analysts predict that Constellium SE will post 3.7 EPS for the current year.

Constellium Company Profile

Constellium SE is a global manufacturer of value-added aluminum products and solutions. The company produces rolled, extruded and other fabricated aluminum products used in transportation, aerospace, automotive, packaging and industrial applications.

Its offerings include aluminum sheets, plates, coils, extrusions and structural components, as well as beverage can materials, foil stock, automotive body and structural parts, and aerospace components. Constellium also operates recycling activities that support the reuse of aluminum and the production of lower-carbon materials.

Constellium serves customers through manufacturing and engineering operations in North America, Europe and other international markets.