Constellium (NYSE:CSTM) Sees Large Volume Increase on Strong Earnings

Shares of Constellium SE (NYSE:CSTM) saw unusually-high trading volume on Tuesday following a stronger than expected earnings report. Approximately 757,130 shares changed hands during trading, a decline of 15% from the previous session’s volume of 889,565 shares.The stock last traded at $17.38 and had previously closed at $18.51.

The industrial products company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.89 billion. Constellium had a net margin of 2.35% and a return on equity of 17.93%. The firm’s revenue was down 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 EPS.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price objective on Constellium from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Constellium from $24.50 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. BMO Capital Markets dropped their price objective on shares of Constellium from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Benchmark restated a “buy” rating and set a $24.00 target price on shares of Constellium in a research report on Friday, April 19th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $25.00.

Institutional Trading of Constellium

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC lifted its holdings in shares of Constellium by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 42,134 shares of the industrial products company’s stock worth $794,000 after buying an additional 698 shares during the period. Legacy Capital Group California Inc. bought a new position in shares of Constellium during the second quarter valued at approximately $193,000. Vaughan Nelson Investment Management L.P. lifted its holdings in Constellium by 8.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 3,360,198 shares of the industrial products company’s stock worth $63,339,000 after buying an additional 257,618 shares during the period. Contravisory Investment Management Inc. purchased a new position in shares of Constellium in the 2nd quarter valued at $195,000. Finally, CWM LLC raised its position in shares of Constellium by 81.1% in the 2nd quarter. CWM LLC now owns 1,510 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 676 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

Constellium Stock Up 0.3 %

The business has a 50 day moving average of $19.95 and a two-hundred day moving average of $19.96. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.58 and a current ratio of 1.31. The stock has a market capitalization of $2.53 billion, a PE ratio of 19.38 and a beta of 1.60.

Constellium Company Profile

Constellium SE, together with its subsidiaries, engages in the design, manufacture, and sale of rolled and extruded aluminum products for the packaging, aerospace, automotive, defense, and other transportation and industry end-markets. The company operates through three segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry.