Bank of America Corp DE Has $20.92 Million Position in Constellium SE $CSTM

Key Points

• Bank of America doubled its Constellium stake in the first quarter, adding 425,871 shares to own 851,222 shares valued at approximately $20.9 million. Institutional investors and hedge funds collectively own 92.59% of the company.
• Analyst sentiment remains positive but mixed, with four Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $35.80, above the reported $28.03 share price.
• Constellium exceeded quarterly expectations, reporting adjusted earnings of $1.04 per share versus the $0.86 consensus and revenue of $2.75 billion, up 30.7% year over year.

Bank of America Corp DE lifted its stake in shares of Constellium SE (NYSE:CSTM - Free Report) by 100.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 851,222 shares of the industrial products company's stock after acquiring an additional 425,871 shares during the period. Bank of America Corp DE owned approximately 0.63% of Constellium worth $20,923,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its position in Constellium by 620.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,228,027 shares of the industrial products company's stock valued at $79,345,000 after purchasing an additional 2,780,260 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Constellium by 894.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,056,336 shares of the industrial products company's stock valued at $50,545,000 after acquiring an additional 1,849,554 shares during the last quarter. Millennium Management LLC raised its holdings in Constellium by 35.4% during the third quarter. Millennium Management LLC now owns 6,935,766 shares of the industrial products company's stock worth $103,204,000 after acquiring an additional 1,813,400 shares in the last quarter. Morgan Stanley raised its holdings in Constellium by 48.4% during the fourth quarter. Morgan Stanley now owns 3,728,118 shares of the industrial products company's stock worth $70,275,000 after acquiring an additional 1,216,516 shares in the last quarter. Finally, Scopus Asset Management L.P. acquired a new position in Constellium during the second quarter valued at approximately $14,054,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Constellium from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft set a $39.00 price objective on Constellium in a report on Thursday, July 30th. Weiss Ratings lowered shares of Constellium from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, July 1st. UBS Group dropped their price target on shares of Constellium from $38.00 to $35.00 and set a "buy" rating on the stock in a research report on Wednesday, July 8th. Finally, Zacks Research downgraded shares of Constellium from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $35.80.

Insider Buying and Selling

In related news, SVP Marcus Becker sold 10,391 shares of the firm's stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $34.93, for a total transaction of $362,957.63. Following the transaction, the senior vice president directly owned 16,784 shares of the company's stock, valued at approximately $586,265.12. This trade represents a 38.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jean-Christophe Deslarzes bought 1,490 shares of the stock in a transaction dated Monday, August 3rd. The shares were acquired at an average cost of $27.24 per share, for a total transaction of $40,587.60. Following the completion of the acquisition, the director directly owned 43,515 shares of the company's stock, valued at approximately $1,185,348.60. This trade represents a 3.55% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.20% of the stock is owned by insiders.

Constellium Price Performance

Shares of CSTM opened at $28.03 on Wednesday. The company's 50-day moving average is $30.44 and its 200-day moving average is $29.13. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.43 and a quick ratio of 0.61. The firm has a market capitalization of $3.80 billion, a PE ratio of 7.22 and a beta of 1.57. Constellium SE has a fifty-two week low of $13.58 and a fifty-two week high of $36.99.

Constellium (NYSE:CSTM - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.18. The firm had revenue of $2.75 billion for the quarter, compared to analysts' expectations of $2.73 billion. Constellium had a net margin of 5.69% and a return on equity of 51.66%. The business's revenue was up 30.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. Equities analysts forecast that Constellium SE will post 3.7 EPS for the current year.

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.

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