Convergence Investment Partners LLC Purchases New Stake in Constellium SE $CSTM

Convergence Investment Partners LLC purchased a new stake in Constellium SE (NYSE:CSTM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 73,600 shares of the industrial products company’s stock, valued at approximately $1,387,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CSTM. Millennium Management LLC increased its stake in Constellium by 35.4% during the third quarter. Millennium Management LLC now owns 6,935,766 shares of the industrial products company’s stock worth $103,204,000 after acquiring an additional 1,813,400 shares during the last quarter. Scopus Asset Management L.P. acquired a new stake in Constellium during the second quarter worth $14,054,000. Vanguard Group Inc. increased its stake in Constellium by 39.7% during the third quarter. Vanguard Group Inc. now owns 3,299,064 shares of the industrial products company’s stock worth $49,090,000 after acquiring an additional 938,155 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Constellium during the second quarter worth $9,498,000. Finally, Brightline Capital Management LLC increased its stake in Constellium by 62.5% during the third quarter. Brightline Capital Management LLC now owns 1,625,000 shares of the industrial products company’s stock worth $24,180,000 after acquiring an additional 625,000 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CSTM shares. BMO Capital Markets set a $32.00 target price on Constellium and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Wells Fargo & Company raised their target price on Constellium from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. UBS Group started coverage on Constellium in a research note on Tuesday, May 5th. They set a “buy” rating and a $38.00 target price for the company. Zacks Research raised Constellium from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $40.00 target price on shares of Constellium in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $36.60.

Insiders Place Their Bets

In related news, SVP Nicolas Brun sold 26,661 shares of Constellium stock in a transaction on Monday, May 11th. The stock was sold at an average price of $33.85, for a total value of $902,474.85. Following the completion of the transaction, the senior vice president directly owned 104,891 shares in the company, valued at approximately $3,550,560.35. This trade represents a 20.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Ludovic Piquier sold 1,000 shares of Constellium stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $33.57, for a total value of $33,570.00. Following the completion of the transaction, the senior vice president owned 241,713 shares of the company’s stock, valued at approximately $8,114,305.41. This trade represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 386,589 shares of company stock valued at $11,133,606. Insiders own 1.20% of the company’s stock.

Constellium Trading Down 4.8%

Shares of NYSE CSTM opened at $31.88 on Friday. Constellium SE has a twelve month low of $11.23 and a twelve month high of $34.94. The company has a current ratio of 1.39, a quick ratio of 0.60 and a debt-to-equity ratio of 1.71. The stock has a fifty day simple moving average of $28.42 and a 200-day simple moving average of $22.99. The stock has a market capitalization of $4.34 billion, a PE ratio of 10.32 and a beta of 1.54.

Constellium (NYSE:CSTM) last issued 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 return on equity of 46.22% and a net margin of 4.87%.The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was up 24.4% on a year-over-year basis. On average, equities analysts forecast that Constellium SE will post 3.34 earnings per share for the current year.

Constellium declared that its board has initiated a share buyback plan on Thursday, March 12th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 8.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Constellium 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.