Handelsbanken Fonder AB Acquires 24,615 Shares of Constellium SE $CSTM

Handelsbanken Fonder AB increased its holdings in Constellium SE (NYSE:CSTM) by 244.2% in the second quarter, HoldingsChannel reports. The firm owned 34,696 shares of the industrial products company’s stock after purchasing an additional 24,615 shares during the period. Handelsbanken Fonder AB’s holdings in Constellium were worth $1,106,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership raised its holdings in Constellium by 620.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 3,228,027 shares of the industrial products company’s stock valued at $79,345,000 after buying an additional 2,780,260 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Constellium by 894.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,056,336 shares of the industrial products company’s stock worth $50,545,000 after acquiring an additional 1,849,554 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Constellium by 35.4% during the 3rd quarter. Millennium Management LLC now owns 6,935,766 shares of the industrial products company’s stock worth $103,204,000 after acquiring an additional 1,813,400 shares in the last quarter. Morgan Stanley increased 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 valued at $70,275,000 after acquiring an additional 1,216,516 shares during the last quarter. Finally, Scopus Asset Management L.P. acquired a new position in shares of Constellium during the 2nd quarter valued at about $14,054,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Marcus Becker sold 10,391 shares of the business’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $34.93, for a total value of $362,957.63. Following the sale, the senior vice president owned 16,784 shares of the company’s stock, valued at $586,265.12. The trade was a 38.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jean-Christophe Deslarzes purchased 1,490 shares of the stock in a transaction on Monday, August 3rd. The stock was bought at an average price of $27.24 per share, for a total transaction of $40,587.60. Following the completion of the transaction, the director directly owned 43,515 shares of the company’s stock, valued at approximately $1,185,348.60. This trade represents a 3.55% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.20% of the company’s stock.

Constellium Price Performance

Shares of Constellium stock opened at $28.03 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.61 and a current ratio of 1.43. The firm’s 50-day simple moving average is $30.44 and its 200-day simple moving average is $29.13. Constellium SE has a twelve month low of $13.58 and a twelve month high of $36.99. The firm has a market cap of $3.80 billion, a P/E ratio of 7.22 and a beta of 1.57.

Constellium (NYSE:CSTM) last posted its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.18. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.73 billion. Constellium had a net margin of 5.69% and a return on equity of 51.66%. The company’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. As a group, research analysts expect that Constellium SE will post 3.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. restated a “neutral” rating and issued a $34.00 target price (up from $30.00) on shares of Constellium in a report on Thursday, April 30th. Weiss Ratings cut Constellium from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 1st. Wells Fargo & Company increased their target price on Constellium from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Zacks Research lowered Constellium from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft set a $39.00 price target on Constellium in a research report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Constellium has an average rating of “Moderate Buy” and an average price target of $35.80.

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.