SummitTX Capital L.P. Trims Stock Position in Constellium SE $CSTM

SummitTX Capital L.P. trimmed its stake in shares of Constellium SE (NYSE:CSTM) by 52.0% in the first quarter, Holdings Channel reports. The fund owned 330,242 shares of the industrial products company’s stock after selling 358,331 shares during the period. SummitTX Capital L.P.’s holdings in Constellium were worth $8,117,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ethic Inc. increased its holdings in shares of Constellium by 1.6% in the fourth quarter. Ethic Inc. now owns 29,283 shares of the industrial products company’s stock valued at $552,000 after purchasing an additional 456 shares during the period. Mackenzie Financial Corp raised its stake in shares of Constellium by 0.4% during the fourth quarter. Mackenzie Financial Corp now owns 132,642 shares of the industrial products company’s stock worth $2,511,000 after purchasing an additional 512 shares during the last quarter. Summit Global Investments lifted its holdings in shares of Constellium by 1.7% during the first quarter. Summit Global Investments now owns 33,799 shares of the industrial products company’s stock worth $831,000 after purchasing an additional 554 shares during the period. Moran Wealth Management LLC lifted its holdings in shares of Constellium by 6.7% during the first quarter. Moran Wealth Management LLC now owns 11,025 shares of the industrial products company’s stock worth $271,000 after purchasing an additional 692 shares during the period. Finally, GAMMA Investing LLC grew its position in Constellium by 29.7% in the 4th quarter. GAMMA Investing LLC now owns 3,089 shares of the industrial products company’s stock valued at $58,000 after buying an additional 707 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Constellium Price Performance

Constellium stock opened at $29.02 on Monday. The company has a market cap of $3.95 billion, a P/E ratio of 9.39 and a beta of 1.55. Constellium SE has a one year low of $13.04 and a one year high of $36.99. The business has a fifty day moving average of $32.11 and a two-hundred day moving average of $28.29. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.60 and a current ratio of 1.39.

Constellium (NYSE:CSTM) last posted its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.80. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Constellium had a net margin of 4.87% and a return on equity of 46.22%. The business’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 EPS. As a group, analysts predict that Constellium SE will post 3.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CSTM. Weiss Ratings cut shares of Constellium from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, July 1st. Zacks Research downgraded shares of Constellium from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. BMO Capital Markets set a $32.00 price target on shares of Constellium and gave the stock an “outperform” rating in a report on Thursday, April 9th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $34.00 price objective (up from $30.00) on shares of Constellium in a research report on Thursday, April 30th. Finally, Wells Fargo & Company lowered their price objective on Constellium from $39.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.60.

Insider Activity at Constellium

In other Constellium news, CFO Jack Q. Guo sold 25,201 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $32.62, for a total value of $822,056.62. Following the completion of the transaction, the chief financial officer directly owned 185,368 shares of the company’s stock, valued at approximately $6,046,704.16. This trade represents a 11.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michiel Brandjes sold 10,400 shares of Constellium stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $31.25, for a total transaction of $325,000.00. Following the sale, 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 195,153 shares of company stock valued at $6,369,312 in the last ninety days. Company insiders own 1.20% of the company’s stock.

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.