JPMorgan Chase & Co. Boosts Holdings in Constellium SE $CSTM

JPMorgan Chase & Co. lifted its position in shares of Constellium SE (NYSE:CSTM) by 10.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,407,597 shares of the industrial products company’s stock after buying an additional 236,264 shares during the period. JPMorgan Chase & Co. owned approximately 1.75% of Constellium worth $35,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in CSTM. HighTower Advisors LLC grew its position in Constellium by 7.0% in the third quarter. HighTower Advisors LLC now owns 96,421 shares of the industrial products company’s stock worth $1,435,000 after acquiring an additional 6,316 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Constellium by 7.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 61,097 shares of the industrial products company’s stock worth $909,000 after purchasing an additional 4,007 shares during the period. Allianz Asset Management GmbH purchased a new position in shares of Constellium during the 3rd quarter worth $411,000. State of Wyoming increased its position in shares of Constellium by 5.6% during the 3rd quarter. State of Wyoming now owns 39,241 shares of the industrial products company’s stock worth $584,000 after purchasing an additional 2,097 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in Constellium in the 3rd quarter valued at about $154,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Constellium Trading Down 4.4%

Shares of CSTM stock opened at $24.81 on Friday. Constellium SE has a fifty-two week low of $7.32 and a fifty-two week high of $27.25. The company has a 50 day moving average price of $22.44 and a 200 day moving average price of $18.02. The stock has a market capitalization of $3.35 billion, a P/E ratio of 12.86 and a beta of 1.51. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.54 and a current ratio of 1.28.

Constellium (NYSE:CSTM) last issued its quarterly earnings results on Wednesday, February 18th. The industrial products company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.36 by $0.44. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.05 billion. Constellium had a net margin of 3.23% and a return on equity of 33.74%. The firm’s revenue was up 27.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.34) EPS. Equities research analysts predict that Constellium SE will post 1.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Marcus Becker sold 15,570 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $25.58, for a total transaction of $398,280.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Isabelle Boccon-Gibod sold 10,000 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $25.77, for a total value of $257,700.00. Following the completion of the sale, the director directly owned 23,000 shares in the company, valued at $592,710. This represents a 30.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 30,270 shares of company stock valued at $776,338. Company insiders own 1.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CSTM. Deutsche Bank Aktiengesellschaft increased their target price on shares of Constellium from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Weiss Ratings restated a “hold (c)” rating on shares of Constellium in a report on Monday, December 29th. BMO Capital Markets increased their price objective on shares of Constellium from $25.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Zacks Research upgraded shares of Constellium from a “hold” rating to a “strong-buy” rating in a report on Friday, February 20th. Finally, Wells Fargo & Company upped their price target on Constellium from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Constellium currently has a consensus rating of “Buy” and a consensus price target of $29.00.

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.