Thornburg Investment Management Inc. Invests $4.75 Million in Constellium SE $CSTM

Thornburg Investment Management Inc. acquired a new position in Constellium SE (NYSE:CSTM) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 251,735 shares of the industrial products company’s stock, valued at approximately $4,745,000.

A number of other large investors have also recently made changes to their positions in the business. Millennium Management LLC grew its position in shares of Constellium by 35.4% in the 3rd quarter. Millennium Management LLC now owns 6,935,766 shares of the industrial products company’s stock worth $103,204,000 after buying an additional 1,813,400 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Constellium by 22.9% in the 4th quarter. Vanguard Group Inc. now owns 4,054,982 shares of the industrial products company’s stock worth $76,436,000 after buying an additional 755,918 shares during the last quarter. Morgan Stanley grew its position in shares of Constellium by 48.4% in the 4th quarter. Morgan Stanley now owns 3,728,118 shares of the industrial products company’s stock worth $70,275,000 after buying an additional 1,216,516 shares during the last quarter. State Street Corp grew its position in shares of Constellium by 3.6% in the 4th quarter. State Street Corp now owns 2,660,518 shares of the industrial products company’s stock worth $50,151,000 after buying an additional 92,955 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Constellium by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,407,597 shares of the industrial products company’s stock worth $35,825,000 after buying an additional 236,264 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CSTM has been the subject of a number of research analyst reports. Weiss Ratings upgraded Constellium from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. BMO Capital Markets set a $32.00 target price on Constellium and gave the company an “outperform” rating in a research note on Thursday, April 9th. Zacks Research upgraded Constellium from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $40.00 target price on shares of Constellium in a research note on Thursday, April 30th. Finally, Wells Fargo & Company raised their target price on Constellium from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $36.60.

Insider Buying and Selling at Constellium

In other Constellium news, CFO Jack Q. Guo sold 25,201 shares of Constellium stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $32.62, for a total transaction of $822,056.62. Following the completion of the transaction, the chief financial officer owned 185,368 shares in the company, valued at approximately $6,046,704.16. The trade was a 11.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Nicolas Brun sold 26,661 shares of Constellium stock in a transaction on Monday, May 11th. The shares were sold at an average price of $33.85, for a total value of $902,474.85. Following the transaction, the senior vice president owned 104,891 shares of the company’s stock, valued at $3,550,560.35. The trade was a 20.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 195,153 shares of company stock valued at $6,369,312 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Constellium Trading Down 2.6%

CSTM opened at $34.66 on Tuesday. The stock has a market cap of $4.72 billion, a PE ratio of 11.22 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 of $32.28 and a 200-day moving average of $25.74. Constellium SE has a 52 week low of $12.68 and a 52 week high of $36.99.

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

Constellium declared that its Board of Directors has initiated a share buyback plan on Thursday, March 12th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the industrial products company to reacquire up to 8.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

About Constellium

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.