Constellium NV (NYSE:CSTM) Short Interest Update

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Constellium NV (NYSE:CSTM) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 1,280,000 shares, an increase of 56.4% from the September 30th total of 818,200 shares. Based on an average daily trading volume, of 1,230,000 shares, the short-interest ratio is currently 1.0 days. Approximately 0.9% of the company’s stock are sold short.

Several hedge funds have recently modified their holdings of CSTM. FMR LLC grew its holdings in shares of Constellium by 24.9% during the first quarter. FMR LLC now owns 4,166,800 shares of the industrial products company’s stock worth $33,251,000 after purchasing an additional 829,800 shares during the last quarter. Anchor Bolt Capital LP purchased a new position in shares of Constellium during the second quarter worth about $7,754,000. SkyTop Capital Management LLC grew its holdings in shares of Constellium by 53.7% during the second quarter. SkyTop Capital Management LLC now owns 1,766,717 shares of the industrial products company’s stock worth $17,738,000 after purchasing an additional 616,919 shares during the last quarter. Diameter Capital Partners LP grew its holdings in shares of Constellium by 37.8% during the second quarter. Diameter Capital Partners LP now owns 2,067,975 shares of the industrial products company’s stock worth $20,762,000 after purchasing an additional 567,672 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Constellium by 11.0% during the second quarter. Janus Henderson Group PLC now owns 5,252,187 shares of the industrial products company’s stock worth $52,732,000 after purchasing an additional 521,574 shares during the last quarter. 66.53% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on the company. ValuEngine cut Constellium from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th. Credit Suisse Group raised their price target on Constellium from $20.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th.

Constellium stock traded up $0.17 during midday trading on Friday, reaching $14.29. The company’s stock had a trading volume of 2,608,300 shares, compared to its average volume of 1,095,250. Constellium has a fifty-two week low of $6.26 and a fifty-two week high of $14.80. The company has a market cap of $1.94 billion, a P/E ratio of 20.13 and a beta of 1.75. The business has a 50-day simple moving average of $13.50 and a 200-day simple moving average of $11.37.

Constellium (NYSE:CSTM) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.27). Constellium had a negative net margin of 0.28% and a negative return on equity of 12.92%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the prior year, the business earned $1.54 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts forecast that Constellium will post 0.37 earnings per share for the current year.

About Constellium

Constellium N.V. engages in the design, manufacture, and sale of specialty rolled and extruded aluminum products for the aerospace, packaging, and automotive end-markets. The company operates in three segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry.

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