Engineers Gate Manager LP Sells 686,406 Shares of Constellium SE $CSTM

Engineers Gate Manager LP reduced its position in Constellium SE (NYSE:CSTM) by 77.6% in the second quarter, Holdings Channel.com reports. The firm owned 197,697 shares of the industrial products company’s stock after selling 686,406 shares during the quarter. Engineers Gate Manager LP’s holdings in Constellium were worth $6,301,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Orion Capital Management LLC purchased a new stake in shares of Constellium in the 2nd quarter valued at $32,000. POM Investment Strategies LLC purchased a new position in Constellium in the 2nd quarter worth $32,000. Allworth Financial LP raised its position in Constellium by 52.5% in the 4th quarter. Allworth Financial LP now owns 2,074 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 714 shares during the period. USA Financial Formulas lifted its stake in Constellium by 94.9% in the first quarter. USA Financial Formulas now owns 2,253 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 1,097 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Constellium by 34.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,151 shares of the industrial products company’s stock worth $59,000 after purchasing an additional 803 shares during the last quarter. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Constellium Stock Performance

Shares of NYSE:CSTM opened at $26.21 on Friday. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 6.76 and a beta of 1.55. The company has a 50-day moving average price of $28.27 and a 200-day moving average price of $29.43. The company has a current ratio of 1.43, a quick ratio of 0.61 and a debt-to-equity ratio of 1.50. Constellium SE has a 12 month low of $14.39 and a 12 month high of $36.99.

Constellium (NYSE:CSTM) last posted its earnings results on Wednesday, July 29th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.18. Constellium had a return on equity of 51.66% and a net margin of 5.69%.The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.73 billion. During the same period last year, the firm earned $0.25 earnings per share. Constellium’s quarterly revenue was up 30.7% on a year-over-year basis. As a group, equities analysts anticipate that Constellium SE will post 3.7 EPS for the current year.

Insider Buying and Selling at Constellium

In other Constellium news, Director Jean-Christophe Deslarzes bought 1,490 shares of Constellium stock in a transaction dated Monday, August 3rd. The shares were purchased at an average cost of $27.24 per share, with a total value of $40,587.60. Following the completion of the purchase, the director owned 43,515 shares of the company’s stock, valued at approximately $1,185,348.60. This represents a 3.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

CSTM has been the topic of a number of recent research reports. Weiss Ratings cut Constellium from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, July 1st. Zacks Research raised Constellium from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 7th. UBS Group dropped their target price on Constellium from $38.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Wells Fargo & Company raised their price target on Constellium from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft set a $39.00 price target on Constellium in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.80.

About Constellium

Constellium SE is a global manufacturer of value-added aluminum products and solutions. The company produces rolled, extruded and other fabricated aluminum products used in transportation, aerospace, automotive, packaging and industrial applications.

Its offerings include aluminum sheets, plates, coils, extrusions and structural components, as well as beverage can materials, foil stock, automotive body and structural parts, and aerospace components. Constellium also operates recycling activities that support the reuse of aluminum and the production of lower-carbon materials.

Constellium serves customers through manufacturing and engineering operations in North America, Europe and other international markets.