Constellium N.V. (CSTM) Position Trimmed by Sound Point Capital Management LP
Sound Point Capital Management LP decreased its holdings in shares of Constellium N.V. (NYSE:CSTM) by 52.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 988,269 shares of the industrial products company’s stock after selling 1,077,226 shares during the quarter. Constellium N.V. comprises approximately 1.4% of Sound Point Capital Management LP’s holdings, making the stock its 14th largest position. Sound Point Capital Management LP owned about 0.94% of Constellium N.V. worth $6,819,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Fox Run Management L.L.C. bought a new stake in Constellium N.V. during the 2nd quarter valued at approximately $108,000. ClariVest Asset Management LLC boosted its stake in Constellium N.V. by 12.4% during the 1st quarter. ClariVest Asset Management LLC now owns 16,323 shares of the industrial products company’s stock valued at $106,000 after purchasing an additional 1,800 shares during the period. KCG Holdings Inc. boosted its stake in Constellium N.V. by 52.2% during the 1st quarter. KCG Holdings Inc. now owns 19,334 shares of the industrial products company’s stock valued at $126,000 after purchasing an additional 6,629 shares during the period. Quantum Capital Management boosted its stake in Constellium N.V. by 37.7% during the 2nd quarter. Quantum Capital Management now owns 23,080 shares of the industrial products company’s stock valued at $159,000 after purchasing an additional 6,324 shares during the period. Finally, Cannell Peter B & Co. Inc. boosted its stake in Constellium N.V. by 76.4% during the 2nd quarter. Cannell Peter B & Co. Inc. now owns 51,150 shares of the industrial products company’s stock valued at $353,000 after purchasing an additional 22,150 shares during the period. Hedge funds and other institutional investors own 57.42% of the company’s stock.
A number of analysts have commented on the company. BidaskClub upgraded Constellium N.V. from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Cowen and Company raised their price objective on Constellium N.V. from $6.00 to $8.30 and gave the stock a “market perform” rating in a research report on Monday, July 31st. BMO Capital Markets set a $9.00 price objective on Constellium N.V. and gave the stock a “hold” rating in a research report on Friday, July 28th. Finally, Seaport Global Securities downgraded Constellium N.V. from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $8.00 to $9.00 in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $8.77.
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Shares of Constellium N.V. (NYSE CSTM) remained flat at $10.90 during mid-day trading on Thursday. The company had a trading volume of 295,937 shares. The company’s 50-day moving average is $10.42 and its 200-day moving average is $7.92. Constellium N.V. has a 52-week low of $4.85 and a 52-week high of $11.70. The firm has a market capitalization of $1.15 billion, a P/E ratio of 40.82 and a beta of 0.69.
Constellium N.V. (NYSE:CSTM) last issued its quarterly earnings data on Thursday, July 27th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.08). Constellium N.V. had a negative return on equity of 4.31% and a net margin of 0.48%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm earned $0.08 EPS. The company’s revenue was up 12.1% on a year-over-year basis. On average, equities analysts predict that Constellium N.V. will post $0.62 earnings per share for the current fiscal year.
Constellium N.V. Company Profile
Constellium N.V. is a Netherlands-based company engaged in developing aluminum products for a range of markets and applications, including aerospace, automotive and packaging. The Company’s manufacturing facilities are located in the United States, Europe and China. It operates through three segments: Packaging & Automotive Rolled Product; Aerospace & Transportation, and Automotive Structures & Industry.
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