Constellium SE $CSTM Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Constellium SE (NYSE:CSTM) by 10.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,407,597 shares of the industrial products company’s stock after buying an additional 236,264 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.75% of Constellium worth $35,825,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. CIBC Bancorp USA Inc. purchased a new stake in shares of Constellium in the third quarter valued at about $226,000. PharVision Advisers LLC increased its position in Constellium by 206.6% during the third quarter. PharVision Advisers LLC now owns 33,893 shares of the industrial products company’s stock worth $504,000 after purchasing an additional 22,838 shares during the last quarter. Virtus Advisers LLC purchased a new position in Constellium during the third quarter worth about $387,000. Voleon Capital Management LP boosted its holdings in Constellium by 370.6% in the 3rd quarter. Voleon Capital Management LP now owns 446,347 shares of the industrial products company’s stock valued at $6,642,000 after purchasing an additional 351,503 shares during the last quarter. Finally, Scopus Asset Management L.P. boosted its holdings in Constellium by 23.7% in the 3rd quarter. Scopus Asset Management L.P. now owns 1,306,708 shares of the industrial products company’s stock valued at $19,444,000 after purchasing an additional 250,000 shares during the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Constellium Stock Performance

Shares of CSTM stock opened at $22.36 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.51 and a current ratio of 1.29. The firm has a market cap of $3.02 billion, a P/E ratio of 11.58 and a beta of 1.48. The firm’s 50 day moving average price is $24.15 and its 200-day moving average price is $19.17. Constellium SE has a one year low of $7.32 and a one year high of $27.41.

Constellium (NYSE:CSTM) last announced its earnings results on Wednesday, February 18th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.44. Constellium had a return on equity of 32.14% and a net margin of 3.23%.The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the company earned ($0.34) earnings per share. The firm’s quarterly revenue was up 27.9% compared to the same quarter last year. As a group, equities research analysts predict that Constellium SE will post 1.1 EPS 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 shares. This repurchase authorization allows the industrial products company to buy up to 8.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CSTM shares. Weiss Ratings restated a “hold (c)” rating on shares of Constellium in a report on Monday, December 29th. Wells Fargo & Company increased their price objective on Constellium from $25.00 to $29.00 and gave the stock an “overweight” rating in a research report on Thursday, February 19th. Zacks Research upgraded Constellium from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. Deutsche Bank Aktiengesellschaft upped their price target on Constellium from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Finally, BMO Capital Markets increased their price target on Constellium from $25.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Constellium presently has an average rating of “Buy” and an average target price of $29.00.

Insiders Place Their Bets

In related news, SVP Philip Ryan Jurkovic sold 29,900 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $25.87, for a total value of $773,513.00. Following the sale, the senior vice president owned 210,723 shares in the company, valued at approximately $5,451,404.01. The trade was a 12.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jack Q. Guo sold 41,717 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $25.87, for a total value of $1,079,218.79. Following the transaction, the chief financial officer directly owned 190,879 shares in the company, valued at approximately $4,938,039.73. The trade was a 17.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 214,543 shares of company stock valued at $5,565,129. Insiders own 1.54% of the company’s stock.

Constellium 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.