Constellium (NYSE:CSTM) Hits New 1-Year High - Here's What Happened

Key Points

• Constellium shares reached a new 52-week high intraday at $31.50 (last $31.04), and several analysts raised targets—most notably Wells Fargo to $35—leaving a MarketBeat consensus of a Moderate Buy with a $31.50 target.
• The company posted a strong quarter, beating EPS ($0.80 vs. $0.36) and revenue ($2.20B vs. $2.05B) with 27.9% year-over-year sales growth, and its board authorized a $300 million buyback to repurchase up to 8.8% of shares.

Constellium SE (NYSE:CSTM - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $31.50 and last traded at $31.0350, with a volume of 100436 shares changing hands. The stock had previously closed at $30.81.

Wall Street Analyst Weigh In

Several research firms recently commented on CSTM. Wells Fargo & Company upped their price target on shares of Constellium from $29.00 to $35.00 and gave the company an "overweight" rating in a research report on Wednesday, April 15th. BMO Capital Markets set a $32.00 price target on Constellium and gave the company an "outperform" rating in a research report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $29.00 price objective on shares of Constellium in a research note on Thursday, April 9th. Weiss Ratings restated a "hold (c)" rating on shares of Constellium in a research report on Monday, December 29th. Finally, Zacks Research downgraded shares of Constellium from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.50.

Constellium Stock Up 0.2%

The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.51 and a current ratio of 1.29. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 16.02 and a beta of 1.43. The stock's fifty day simple moving average is $26.19 and its two-hundred day simple moving average is $21.21.

Constellium (NYSE:CSTM - Get Free Report) last issued its earnings results on Saturday, February 14th. The industrial products company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.44. Constellium had a return on equity of 32.14% and a net margin of 3.23%.The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the company earned ($0.34) EPS. The firm's quarterly revenue was up 27.9% on a year-over-year basis. On average, sell-side analysts anticipate that Constellium SE will post 2.13 EPS for the current year.

Constellium announced that its board has authorized a stock buyback 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 shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Constellium

In related news, SVP Philip Ryan Jurkovic sold 29,900 shares of the company's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $25.87, for a total transaction of $773,513.00. Following the transaction, the senior vice president owned 210,723 shares in the company, valued at $5,451,404.01. This represents a 12.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $436,683.67. Following the transaction, the senior vice president owned 103,466 shares in the company, valued at approximately $2,552,506.22. The trade was a 14.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 214,543 shares of company stock worth $5,565,129 over the last quarter. Corporate insiders own 1.20% of the company's stock.

Institutional Trading of Constellium

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its position in Constellium by 6,985.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,488 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 1,467 shares in the last quarter. Allworth Financial LP grew its stake in shares of Constellium by 52.5% during the 4th quarter. Allworth Financial LP now owns 2,074 shares of the industrial products company's stock worth $39,000 after acquiring an additional 714 shares in the last quarter. EverSource Wealth Advisors LLC grew 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 in the last quarter. GAMMA Investing LLC grew its stake in shares of Constellium by 29.7% during the 4th quarter. GAMMA Investing LLC now owns 3,089 shares of the industrial products company's stock worth $58,000 after acquiring an additional 707 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Constellium by 53.7% during the 3rd quarter. Quarry LP now owns 5,610 shares of the industrial products company's stock worth $83,000 after acquiring an additional 1,960 shares in the last quarter. 92.59% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.