Magnetar Financial LLC Makes New Investment in Constellium SE $CSTM

Magnetar Financial LLC acquired a new stake in Constellium SE (NYSE:CSTM) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 12,615 shares of the industrial products company’s stock, valued at approximately $168,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new position in shares of Constellium during the first quarter worth $19,630,000. Millennium Management LLC boosted its position in shares of Constellium by 65.8% during the 1st quarter. Millennium Management LLC now owns 4,115,439 shares of the industrial products company’s stock worth $41,525,000 after acquiring an additional 1,633,561 shares in the last quarter. Encompass Capital Advisors LLC boosted its position in shares of Constellium by 82.6% during the 1st quarter. Encompass Capital Advisors LLC now owns 3,357,544 shares of the industrial products company’s stock worth $33,878,000 after acquiring an additional 1,519,220 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Constellium during the 1st quarter worth about $8,039,000. Finally, Westwood Holdings Group Inc. lifted its stake in Constellium by 12.2% during the first quarter. Westwood Holdings Group Inc. now owns 6,518,601 shares of the industrial products company’s stock worth $65,773,000 after purchasing an additional 708,412 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Constellium Stock Performance

NYSE:CSTM opened at $16.58 on Thursday. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.28 and a quick ratio of 0.54. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 20.99 and a beta of 1.77. The firm’s fifty day moving average price is $15.60 and its 200 day moving average price is $14.30. Constellium SE has a 1-year low of $7.32 and a 1-year high of $18.01.

Constellium (NYSE:CSTM) last released its earnings results on Wednesday, October 29th. The industrial products company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.37 by $0.25. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Constellium had a net margin of 1.42% and a return on equity of 14.33%. The business’s revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business earned $0.02 EPS. On average, sell-side analysts expect that Constellium SE will post 1.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Constellium from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Constellium in a research report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Constellium from $17.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Wells Fargo & Company raised their price objective on Constellium from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. Finally, Zacks Research raised Constellium from a “strong sell” rating to a “hold” rating in a report on Friday, October 31st. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $18.00.

Constellium Company Profile

Constellium SE, together with its subsidiaries, engages in the design, manufacture, and sale of rolled and extruded aluminum products for the packaging, aerospace, automotive, defense, and other transportation and industry end-markets. The company operates through three segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry.