Constellium SE (NYSE:CSTM) Shares Sold by Ionic Capital Management LLC

Ionic Capital Management LLC reduced its position in shares of Constellium SE (NYSE:CSTM) by 6.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 531,490 shares of the industrial products company’s stock after selling 35,873 shares during the quarter. Constellium accounts for about 1.5% of Ionic Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. Ionic Capital Management LLC’s holdings in Constellium were worth $8,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. FMR LLC increased its stake in shares of Constellium by 3.4% in the third quarter. FMR LLC now owns 14,681,988 shares of the industrial products company’s stock valued at $238,729,000 after buying an additional 484,011 shares during the period. Westwood Holdings Group Inc. raised its position in Constellium by 47.7% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,131,418 shares of the industrial products company’s stock worth $77,877,000 after purchasing an additional 1,334,550 shares during the period. Rubric Capital Management LP increased its position in Constellium by 0.9% during the 2nd quarter. Rubric Capital Management LP now owns 3,662,895 shares of the industrial products company’s stock valued at $69,046,000 after purchasing an additional 32,548 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in shares of Constellium by 8.3% in 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 acquiring an additional 257,618 shares during the last quarter. Finally, Highland Peak Capital LLC boosted its stake in shares of Constellium by 14.1% in the 2nd quarter. Highland Peak Capital LLC now owns 1,902,378 shares of the industrial products company’s stock worth $35,860,000 after buying an additional 234,756 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Constellium Price Performance

Constellium stock opened at $12.48 on Tuesday. The stock’s 50 day moving average is $13.22 and its 200 day moving average is $16.48. The firm has a market cap of $1.80 billion, a P/E ratio of 16.87 and a beta of 1.65. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.28 and a quick ratio of 0.52. Constellium SE has a one year low of $10.49 and a one year high of $23.20.

Constellium (NYSE:CSTM) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.38). The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. Constellium had a net margin of 1.47% and a return on equity of 10.83%. The company’s revenue was down 4.7% on a year-over-year basis. During the same period last year, the firm posted $0.47 EPS. As a group, research analysts expect that Constellium SE will post 0.71 EPS for the current year.

Wall Street Analyst Weigh In

CSTM has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of Constellium from a “buy” rating to a “hold” rating and lowered their target price for the company from $22.00 to $12.00 in a research note on Thursday, October 24th. JPMorgan Chase & Co. dropped their price objective on shares of Constellium from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, October 11th. BMO Capital Markets decreased their target price on shares of Constellium from $22.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, StockNews.com downgraded Constellium from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.00.

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.