Constellium (NYSE:CSTM) Reaches New 52-Week High After Analyst Upgrade

Constellium SE (NYSE:CSTM)’s stock price hit a new 52-week high on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $34.35 and last traded at $34.2390, with a volume of 1745233 shares changing hands. The stock had previously closed at $33.88.

A number of other equities analysts have also weighed in on CSTM. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $34.00 price target (up from $30.00) on shares of Constellium in a research report on Thursday, April 30th. UBS Group assumed coverage on shares of Constellium in a research report on Tuesday, May 5th. They issued a “buy” rating and a $38.00 price target for the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $40.00 price target on shares of Constellium in a research report on Thursday, April 30th. Wells Fargo & Company upped their price target on shares of Constellium from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, BMO Capital Markets set a $32.00 price target on Constellium and gave the stock an “outperform” rating in a report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $36.60.

Insider Buying and Selling at Constellium

In other news, Director Michiel Brandjes sold 10,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $31.25, for a total transaction of $325,000.00. Following the transaction, the director owned 41,600 shares of the company’s stock, valued at approximately $1,300,000. The trade was a 20.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jack Q. Guo sold 25,201 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $32.62, for a total value of $822,056.62. Following the transaction, the chief financial officer directly owned 185,368 shares in the company, valued at approximately $6,046,704.16. This represents a 11.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 386,589 shares of company stock worth $11,133,606. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Constellium

Several large investors have recently modified their holdings of CSTM. Royal Bank of Canada increased its position in shares of Constellium by 5.3% during the 1st quarter. Royal Bank of Canada now owns 72,526 shares of the industrial products company’s stock valued at $732,000 after purchasing an additional 3,629 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Constellium by 354.0% during the 1st quarter. AQR Capital Management LLC now owns 91,566 shares of the industrial products company’s stock valued at $924,000 after purchasing an additional 71,396 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Constellium by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,021 shares of the industrial products company’s stock valued at $777,000 after purchasing an additional 3,393 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of Constellium during the 2nd quarter valued at approximately $218,000. Finally, Norges Bank bought a new position in Constellium in the 2nd quarter valued at $1,499,000. Institutional investors own 92.59% of the company’s stock.

Constellium Stock Up 3.7%

The company has a 50-day simple moving average of $28.16 and a 200 day simple moving average of $22.81. The company has a market cap of $4.70 billion, a P/E ratio of 11.18 and a beta of 1.54. The company has a current ratio of 1.39, a quick ratio of 0.60 and a debt-to-equity ratio of 1.71.

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

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

Constellium Company 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.