CenterBook Partners LP Sells 32,927 Shares of Constellium SE $CSTM

CenterBook Partners LP lessened its stake in Constellium SE (NYSE:CSTM) by 37.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,927 shares of the industrial products company’s stock after selling 32,927 shares during the quarter. CenterBook Partners LP’s holdings in Constellium were worth $1,054,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CSTM. Clearbridge Investments LLC lifted its stake in Constellium by 1.3% in the fourth quarter. Clearbridge Investments LLC now owns 122,138 shares of the industrial products company’s stock valued at $2,302,000 after acquiring an additional 1,553 shares during the last quarter. Vise Technologies Inc. bought a new position in shares of Constellium in the 4th quarter valued at about $202,000. Goldman Sachs Group Inc. increased its stake in shares of Constellium by 13.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,367,485 shares of the industrial products company’s stock worth $25,777,000 after purchasing an additional 160,078 shares during the last quarter. BW Gestao de Investimentos Ltda. bought a new stake in shares of Constellium in the 4th quarter valued at about $10,297,000. Finally, Penn Capital Management Company LLC bought a new stake in shares of Constellium in the 4th quarter valued at about $6,900,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Constellium

In related news, SVP Philip Ryan Jurkovic sold 48,784 shares of Constellium stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $32.01, for a total transaction of $1,561,575.84. Following the completion of the sale, the senior vice president directly owned 172,149 shares of the company’s stock, valued at approximately $5,510,489.49. This trade represents a 22.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Philippe Hoffmann sold 50,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $31.92, for a total value of $1,596,000.00. Following the completion of the sale, the insider owned 144,153 shares of the company’s stock, valued at $4,601,363.76. This trade represents a 25.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 195,153 shares of company stock valued at $6,369,312 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CSTM. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $34.00 price target (up from $30.00) on shares of Constellium in a report on Thursday, April 30th. Zacks Research upgraded Constellium from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Constellium in a research report on Tuesday, May 26th. BMO Capital Markets set a $32.00 target price on Constellium and gave the stock an “outperform” rating in a research note on Thursday, April 9th. Finally, Wells Fargo & Company increased their price target on Constellium from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $36.60.

Constellium Stock Performance

Shares of CSTM stock opened at $32.63 on Thursday. Constellium SE has a 52 week low of $12.68 and a 52 week high of $36.99. The company has a market capitalization of $4.44 billion, a price-to-earnings ratio of 10.56 and a beta of 1.55. The company has a 50-day simple moving average of $31.77 and a 200 day simple moving average of $25.33. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.60 and a current ratio of 1.39.

Constellium (NYSE:CSTM) last released its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.80. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Constellium had a net margin of 4.87% and a return on equity of 46.22%. The business’s revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. On average, sell-side analysts predict that Constellium SE will post 3.34 earnings per share for the current year.

Constellium declared that its board has approved a stock buyback plan on Thursday, March 12th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 8.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

About Constellium

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.