Hsbc Holdings PLC Buys 16,164 Shares of Constellium SE $CSTM

Hsbc Holdings PLC increased its stake in Constellium SE (NYSE:CSTM) by 28.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,436 shares of the industrial products company’s stock after buying an additional 16,164 shares during the period. Hsbc Holdings PLC’s holdings in Constellium were worth $1,382,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its position in Constellium by 35.4% in the 3rd quarter. Millennium Management LLC now owns 6,935,766 shares of the industrial products company’s stock valued at $103,204,000 after buying an additional 1,813,400 shares during the period. Morgan Stanley raised its stake in shares of Constellium by 48.4% during the fourth quarter. Morgan Stanley now owns 3,728,118 shares of the industrial products company’s stock valued at $70,275,000 after acquiring an additional 1,216,516 shares in the last quarter. Scopus Asset Management L.P. bought a new stake in shares of Constellium during the second quarter valued at approximately $14,054,000. Vanguard Group Inc. boosted its holdings in shares of Constellium by 39.7% in the third quarter. Vanguard Group Inc. now owns 3,299,064 shares of the industrial products company’s stock valued at $49,090,000 after purchasing an additional 938,155 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Constellium in the second quarter valued at approximately $9,498,000. Institutional investors own 92.59% of the company’s stock.

Insider Activity

In other Constellium news, SVP Marcus Becker sold 10,391 shares of the business’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $34.93, for a total value of $362,957.63. Following the completion of the transaction, the senior vice president directly owned 16,784 shares in the company, valued at approximately $586,265.12. The trade was a 38.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bradley Lee Soultz purchased 2,500 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $33.84 per share, with a total value of $84,600.00. Following the completion of the transaction, the director owned 2,500 shares of the company’s stock, valued at approximately $84,600. The trade was a ? increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 195,153 shares of company stock worth $6,369,312 over the last ninety days. 1.20% of the stock is currently owned by corporate insiders.

Constellium Stock Performance

Shares of NYSE:CSTM opened at $31.84 on Wednesday. The firm has a 50 day moving average of $33.17 and a 200 day moving average of $26.97. The company has a quick ratio of 0.60, a current ratio of 1.39 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 10.30 and a beta of 1.55. Constellium SE has a 52 week low of $13.04 and a 52 week high of $36.99.

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

Constellium declared that its board has approved a stock repurchase program on Thursday, March 12th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 8.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

CSTM has been the topic of several research reports. BMO Capital Markets set a $32.00 price objective on Constellium and gave the stock an “outperform” rating in a report on Thursday, April 9th. Wells Fargo & Company upped their target price on Constellium from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings raised Constellium from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, June 12th. UBS Group began coverage on Constellium in a research note on Tuesday, May 5th. They set a “buy” rating and a $38.00 price target on the stock. Finally, Zacks Research upgraded Constellium from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Constellium has a consensus rating of “Buy” and an average target price of $36.60.

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.