Encompass Capital Advisors LLC Trims Stock Position in Constellium SE $CSTM

Encompass Capital Advisors LLC trimmed its holdings in Constellium SE (NYSE:CSTM) by 46.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,477,278 shares of the industrial products company’s stock after selling 2,180,637 shares during the period. Constellium comprises about 1.8% of Encompass Capital Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Encompass Capital Advisors LLC’s holdings in Constellium were worth $60,891,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its position in shares of Constellium by 620.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,228,027 shares of the industrial products company’s stock worth $79,345,000 after purchasing an additional 2,780,260 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Constellium by 894.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,056,336 shares of the industrial products company’s stock valued at $50,545,000 after purchasing an additional 1,849,554 shares during the period. Millennium Management LLC grew its position in shares of Constellium by 35.4% in the 3rd quarter. Millennium Management LLC now owns 6,935,766 shares of the industrial products company’s stock valued at $103,204,000 after purchasing an additional 1,813,400 shares during the period. Morgan Stanley increased its stake in Constellium by 48.4% during the 4th quarter. Morgan Stanley now owns 3,728,118 shares of the industrial products company’s stock worth $70,275,000 after purchasing an additional 1,216,516 shares in the last quarter. Finally, Scopus Asset Management L.P. bought a new stake in Constellium during the 2nd quarter worth approximately $14,054,000. 92.59% of the stock is currently owned by institutional investors.

Constellium Stock Up 1.8%

CSTM stock opened at $29.57 on Tuesday. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.39 and a quick ratio of 0.60. The stock has a market capitalization of $4.03 billion, a P/E ratio of 9.57 and a beta of 1.55. Constellium SE has a fifty-two week low of $13.04 and a fifty-two week high of $36.99. The business has a 50-day moving average of $32.05 and a 200-day moving average of $28.36.

Constellium (NYSE:CSTM) last announced its earnings results on Wednesday, April 29th. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.80. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates 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 last year, the firm earned $0.26 EPS. On average, sell-side analysts anticipate that Constellium SE will post 3.41 earnings per share for the current fiscal year.

Insider Activity at Constellium

In other news, insider Philippe Hoffmann sold 50,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $31.92, for a total value of $1,596,000.00. Following the sale, the insider owned 144,153 shares of the company’s stock, valued at $4,601,363.76. The trade was 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 the SEC website. Also, CFO Jack Q. Guo sold 25,201 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was 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 directly owned 185,368 shares in the company, valued at approximately $6,046,704.16. This represents a 11.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 195,153 shares of company stock worth $6,369,312. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CSTM has been the topic of several research analyst reports. BMO Capital Markets set a $32.00 target price on shares of Constellium and gave the stock an “outperform” rating in a report on Thursday, April 9th. Zacks Research cut shares of Constellium from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Weiss Ratings downgraded shares of Constellium from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. restated a “neutral” rating and set a $34.00 price objective (up from $30.00) on shares of Constellium in a report on Thursday, April 30th. Finally, UBS Group cut their price objective on shares of Constellium from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, July 8th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.60.

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.