181,796 Constellium SE $CSTM Shares Sold by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada cut its Constellium stake by 98.6% in the third quarter, selling 181,796 shares and retaining 2,520 shares valued at approximately $62,000.
• Institutional ownership remains high at 92.59%, with several funds increasing their positions. Analysts maintain a “Moderate Buy” consensus, with an average price target of $33.33.
• Constellium reported quarterly earnings of $1.04 per share, beating estimates of $0.86, while revenue rose 30.7% year over year to $2.75 billion. The stock opened at $23.19, well below its 52-week high of $36.99.

TD Waterhouse Canada Inc. decreased its position in Constellium SE (NYSE:CSTM - Free Report) by 98.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,520 shares of the industrial products company's stock after selling 181,796 shares during the period. TD Waterhouse Canada Inc.'s holdings in Constellium were worth $62,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its stake in Constellium by 56.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 198,487 shares of the industrial products company's stock valued at $4,801,000 after purchasing an additional 72,000 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of Constellium in the third quarter valued at about $333,000. Contravisory Investment Management Inc. increased its holdings in shares of Constellium by 10.3% in the third quarter. Contravisory Investment Management Inc. now owns 17,117 shares of the industrial products company's stock valued at $414,000 after purchasing an additional 1,598 shares during the period. NorthCrest Asset Manangement LLC increased its holdings in shares of Constellium by 6.3% in the third quarter. NorthCrest Asset Manangement LLC now owns 8,431 shares of the industrial products company's stock valued at $216,000 after purchasing an additional 499 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Constellium by 12.5% in the third quarter. GAMMA Investing LLC now owns 4,010 shares of the industrial products company's stock valued at $97,000 after purchasing an additional 447 shares during the period. Hedge funds and other institutional investors own 92.59% of the company's stock.

Analyst Ratings Changes

CSTM has been the subject of a number of research reports. Wall Street Zen downgraded Constellium from a "strong-buy" rating to a "buy" rating in a report on Saturday, October 17th. UBS Group dropped their target price on Constellium from $34.00 to $32.00 and set a "buy" rating on the stock in a research report on Thursday, October 8th. Wells Fargo & Company cut their price target on shares of Constellium from $39.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, September 18th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Constellium from $39.00 to $36.00 and set a "buy" rating on the stock in a report on Thursday, October 8th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Constellium in a research report on Monday, September 28th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $33.33.

Insider Activity

In related news, Director Jean-Christophe Deslarzes bought 1,490 shares of the stock in a transaction dated Monday, August 3rd. The shares were purchased at an average price of $27.24 per share, for a total transaction of $40,587.60. Following the completion of the purchase, the director directly owned 43,515 shares of the company's stock, valued at $1,185,348.60. This represents a 3.55% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is currently owned by company insiders.

Constellium Trading Down 0.1%

NYSE CSTM opened at $23.19 on Monday. The company has a market capitalization of $3.14 billion, a PE ratio of 5.98 and a beta of 1.57. The company has a fifty day moving average of $25.93 and a 200 day moving average of $29.45. Constellium SE has a 1 year low of $14.62 and a 1 year high of $36.99. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.43 and a quick ratio of 0.61.

Constellium (NYSE:CSTM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.86 by $0.18. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.73 billion. Constellium had a net margin of 5.69% and a return on equity of 51.66%. The firm's revenue was up 30.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 earnings per share. Research analysts forecast that Constellium SE will post 3.79 earnings per share for the current year.

Constellium Company Profile

Constellium SE NYSE: CSTM is a global manufacturer of aluminum products and components. The company develops and produces rolled, extruded and formed aluminum solutions for customers in the aerospace, automotive, packaging, transportation and industrial sectors.

Its products include aerospace plates and sheets, automotive body and structural components, aluminum beverage-can sheet, foil stock, extrusions and other engineered components. Constellium's offerings are used in aircraft structures, vehicles, beverage and food packaging, rail transportation and various industrial applications.

Constellium was established in 2011 following the acquisition and combination of aluminum products businesses formerly associated with Alcan.

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.