Constellium (NYSE:CSTM) Hits New 1-Year High – Here’s Why

Constellium SE (NYSE:CSTM) shares hit a new 52-week high on Thursday . The stock traded as high as $18.59 and last traded at $18.30, with a volume of 123062 shares traded. The stock had previously closed at $18.14.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Constellium in a research note on Monday. Wall Street Zen upgraded Constellium from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. increased their price target on shares of Constellium from $17.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Zacks Research upgraded Constellium from a “strong sell” rating to a “hold” rating in a research note on Friday, October 31st. Finally, Wells Fargo & Company increased their price target on Constellium from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.00.

Constellium Trading Down 1.1%

The company has a fifty day moving average of $16.16 and a 200-day moving average of $14.75. The company has a current ratio of 1.28, a quick ratio of 0.54 and a debt-to-equity ratio of 2.29. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 23.20 and a beta of 1.55.

Constellium (NYSE:CSTM) last released its earnings results on Wednesday, October 29th. The industrial products company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.25. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $1.79 billion. Constellium had a return on equity of 14.33% and a net margin of 1.42%.The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 earnings per share. As a group, equities research analysts anticipate that Constellium SE will post 1.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Constellium

Hedge funds have recently modified their holdings of the business. Millennium Management LLC boosted its position in Constellium by 35.4% during the third 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 during the last quarter. Encompass Capital Advisors LLC lifted its stake in Constellium by 59.7% in the 2nd quarter. Encompass Capital Advisors LLC now owns 5,362,760 shares of the industrial products company’s stock worth $71,325,000 after purchasing an additional 2,005,216 shares in the last quarter. Vanguard Group Inc. boosted 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 during the last quarter. JPMorgan Chase & Co. grew its position in shares of Constellium by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 2,407,597 shares of the industrial products company’s stock valued at $35,825,000 after purchasing an additional 236,264 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Constellium in the first quarter valued at approximately $19,630,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

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.