Hudson Bay Capital Management LP Sells 201,809 Shares of Constellium SE $CSTM

Hudson Bay Capital Management LP lessened its holdings in shares of Constellium SE (NYSE:CSTM) by 39.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307,487 shares of the industrial products company’s stock after selling 201,809 shares during the period. Hudson Bay Capital Management LP owned about 0.22% of Constellium worth $4,575,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CSTM. EverSource Wealth Advisors LLC lifted its stake in shares of Constellium by 578.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,348 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 2,002 shares during the last quarter. KBC Group NV purchased a new position in Constellium during the 2nd quarter valued at $56,000. Quarry LP grew its position in Constellium by 53.7% in the 3rd quarter. Quarry LP now owns 5,610 shares of the industrial products company’s stock valued at $83,000 after acquiring an additional 1,960 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in Constellium in the 3rd quarter valued at $85,000. Finally, Focus Partners Wealth purchased a new stake in Constellium in the third quarter worth $161,000. 92.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellium

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 transaction of $773,513.00. Following the transaction, the senior vice president directly owned 210,723 shares in the company, valued at $5,451,404.01. The trade was a 12.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Nicolas Brun sold 17,701 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $24.67, for a total value of $436,683.67. Following the transaction, the senior vice president directly owned 103,466 shares in the company, valued at $2,552,506.22. This represents a 14.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 214,543 shares of company stock valued at $5,565,129. Corporate insiders own 1.54% of the company’s stock.

Constellium Stock Down 5.7%

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

Constellium (NYSE:CSTM) last posted its quarterly earnings data on Wednesday, February 18th. The industrial products company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.36 by $0.44. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.05 billion. Constellium had a net margin of 3.23% and a return on equity of 32.14%. Constellium’s revenue was up 27.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.34) EPS. On average, equities analysts anticipate that Constellium SE will post 1.1 earnings per share for the current fiscal year.

Constellium announced that its Board of Directors has authorized a share buyback program on Thursday, March 12th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 8.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CSTM shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Constellium in a research report on Monday, December 29th. JPMorgan Chase & Co. raised their price target on shares of Constellium from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Thursday, February 19th. Wells Fargo & Company lifted their price objective on shares of Constellium from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, February 19th. BMO Capital Markets boosted their price objective on shares of Constellium from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday, February 18th. Finally, Zacks Research upgraded shares of Constellium from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Constellium currently has an average rating of “Buy” and an average price target of $29.00.

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.