Constellium (NYSE:CSTM) Sets New 12-Month High – Here’s Why

Constellium SE (NYSE:CSTM) reached a new 52-week high during trading on Tuesday . The stock traded as high as $34.35 and last traded at $34.2390, with a volume of 1745233 shares trading hands. The stock had previously closed at $33.88.

Analyst Ratings Changes

Several equities research analysts have commented on CSTM shares. Zacks Research cut Constellium from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $34.00 target price (up from $30.00) on shares of Constellium in a research note on Thursday, April 30th. UBS Group started coverage on Constellium in a research note on Tuesday, May 5th. They issued a “buy” rating and a $38.00 target price on the stock. 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, 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. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

Constellium Trading Up 1.1%

The company has a market cap of $4.66 billion, a P/E ratio of 11.08 and a beta of 1.54. The company has a current ratio of 1.39, a quick ratio of 0.60 and a debt-to-equity ratio of 1.71. The business has a 50 day moving average price of $27.82 and a 200-day moving average price of $22.56.

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

Constellium declared that its Board of Directors has approved a share repurchase plan on Thursday, March 12th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 8.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Constellium

In other Constellium news, SVP Marcus Becker sold 15,570 shares of the company’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $25.58, for a total value of $398,280.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Nicolas Brun sold 17,701 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $24.67, for a total value of $436,683.67. Following the completion of the transaction, the senior vice president directly owned 103,466 shares in the company, valued at approximately $2,552,506.22. This represents a 14.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 353,928 shares of company stock worth $10,029,961. 1.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSTM. Millennium Management LLC grew its holdings in Constellium by 35.4% in the 3rd quarter. Millennium Management LLC now owns 6,935,766 shares of the industrial products company’s stock valued at $103,204,000 after buying an additional 1,813,400 shares in the last quarter. Morgan Stanley grew its holdings in shares of Constellium by 48.4% during the 4th quarter. Morgan Stanley now owns 3,728,118 shares of the industrial products company’s stock worth $70,275,000 after purchasing an additional 1,216,516 shares in the last quarter. Scopus Asset Management L.P. acquired a new stake in shares of Constellium during the 2nd quarter worth $14,054,000. Vanguard Group Inc. grew its holdings in shares of Constellium by 39.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,299,064 shares of the industrial products company’s stock worth $49,090,000 after purchasing an additional 938,155 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Constellium during the 2nd quarter worth $9,498,000. 92.59% of the stock is owned by institutional investors and hedge funds.

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.