Y Intercept Hong Kong Ltd Sells 220,016 Shares of Constellium SE $CSTM

Y Intercept Hong Kong Ltd lessened its holdings in Constellium SE (NYSE:CSTM) by 57.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 163,827 shares of the industrial products company’s stock after selling 220,016 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Constellium were worth $4,027,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in Constellium by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 2,407,597 shares of the industrial products company’s stock valued at $35,825,000 after purchasing an additional 236,264 shares in the last quarter. LSV Asset Management raised its holdings in Constellium by 33.2% in the fourth quarter. LSV Asset Management now owns 248,800 shares of the industrial products company’s stock worth $4,690,000 after purchasing an additional 62,000 shares in the last quarter. Danske Bank A S bought a new position in Constellium in the fourth quarter worth about $8,239,000. Algert Global LLC lifted its position in shares of Constellium by 71.8% during the third quarter. Algert Global LLC now owns 595,676 shares of the industrial products company’s stock valued at $8,864,000 after buying an additional 249,020 shares during the last quarter. Finally, Penn Capital Management Company LLC purchased a new stake in shares of Constellium during the fourth quarter valued at about $6,900,000. 92.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Constellium from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $40.00 price objective on shares of Constellium in a report on Thursday, April 30th. Wells Fargo & Company raised their price objective on Constellium from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. BMO Capital Markets set a $32.00 target price on Constellium and gave the company an “outperform” rating in a research report on Thursday, April 9th. Finally, Weiss Ratings cut Constellium from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

Constellium Trading Down 0.1%

Shares of NYSE:CSTM opened at $29.46 on Monday. Constellium SE has a 52-week low of $13.04 and a 52-week high of $36.99. The stock has a market cap of $4.01 billion, a price-to-earnings ratio of 9.53 and a beta of 1.55. The company has a quick ratio of 0.60, a current ratio of 1.39 and a debt-to-equity ratio of 1.71. The business has a 50-day moving average price of $33.14 and a 200-day moving average price of $27.21.

Constellium (NYSE:CSTM) last released its earnings results on Wednesday, April 29th. The industrial products company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.80. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.43 billion. Constellium had a return on equity of 46.22% and a net margin of 4.87%.The company’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 earnings per share. Equities analysts predict that Constellium SE will post 3.34 EPS for the current year.

Constellium announced that its Board of Directors has initiated a share buyback program on Thursday, March 12th that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 8.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Constellium

In related news, SVP Philip Ryan Jurkovic sold 48,784 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $32.01, for a total transaction of $1,561,575.84. Following the completion of the transaction, the senior vice president owned 172,149 shares of the company’s stock, valued at $5,510,489.49. This trade represents a 22.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Philippe Hoffmann sold 50,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $31.92, for a total transaction of $1,596,000.00. Following the transaction, the insider owned 144,153 shares of the company’s stock, valued at $4,601,363.76. This represents a 25.75% 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 worth $6,369,312 in the last ninety days. 1.20% of the stock is owned by company insiders.

Constellium Company 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.