Constellium (NYSE:CSTM – Get Free Report) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.
Other equities analysts have also recently issued reports about the stock. UBS Group initiated coverage on shares of Constellium in a research report on Tuesday, May 5th. They issued a “buy” rating and a $38.00 target price for the company. Wells Fargo & Company increased 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. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $40.00 price objective on shares of Constellium in a research note on Thursday, April 30th. Weiss Ratings upgraded shares of Constellium from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $34.00 target price (up from $30.00) on shares of Constellium in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.
Get Our Latest Research Report on Constellium
Constellium Stock Up 2.2%
Constellium (NYSE:CSTM – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.80. The business had revenue of $2.46 billion during 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%. Constellium’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.26 earnings per share. Sell-side analysts anticipate that Constellium will post 3.34 EPS for the current fiscal year.
Constellium declared that its Board of Directors has approved a stock buyback program on Thursday, March 12th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 8.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
Insider Transactions 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 shares were sold at an average price of $32.01, for a total transaction of $1,561,575.84. Following the sale, the senior vice president directly owned 172,149 shares of the company’s stock, valued at approximately $5,510,489.49. The trade was a 22.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jack Q. Guo sold 25,201 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $32.62, for a total transaction of $822,056.62. Following the transaction, the chief financial officer owned 185,368 shares of the company’s stock, valued at approximately $6,046,704.16. This represents a 11.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 195,153 shares of company stock valued at $6,369,312. 1.20% of the stock is owned by company insiders.
Institutional Trading of Constellium
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in shares of Constellium by 100.1% in the 1st quarter. Bank of America Corp DE now owns 851,222 shares of the industrial products company’s stock valued at $20,923,000 after acquiring an additional 425,871 shares during the last quarter. Edgestream Partners L.P. grew its position in Constellium by 9.9% during the 1st quarter. Edgestream Partners L.P. now owns 226,292 shares of the industrial products company’s stock worth $5,562,000 after acquiring an additional 20,370 shares during the last quarter. Janus Henderson Group PLC grew its position in Constellium by 775.9% during the 1st quarter. Janus Henderson Group PLC now owns 439,301 shares of the industrial products company’s stock worth $10,797,000 after acquiring an additional 389,147 shares during the last quarter. Amundi bought a new position in Constellium in the first quarter valued at about $218,000. Finally, California State Teachers Retirement System raised its position in Constellium by 24.0% in the first quarter. California State Teachers Retirement System now owns 145,732 shares of the industrial products company’s stock valued at $3,582,000 after purchasing an additional 28,191 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.
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.
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