Millennium Management LLC Increases Stake in Constellium SE $CSTM

Key Points

• Millennium Management LLC increased its stake in Constellium SE by 65.8%, owning approximately 2.88% of the company valued at $41.5 million.
• Other hedge funds have adjusted their positions in Constellium, with significant increases from Raymond James, Northern Trust, and Ameriprise Financial.
• Constellium's stock recently dropped 4.0% and reported an earnings per share of $0.25, missing estimates of $0.28.

Millennium Management LLC raised its holdings in shares of Constellium SE (NYSE:CSTM - Free Report) by 65.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,115,439 shares of the industrial products company's stock after acquiring an additional 1,633,561 shares during the quarter. Millennium Management LLC owned approximately 2.88% of Constellium worth $41,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Constellium in the 4th quarter worth $213,000. Northern Trust Corp grew its holdings in Constellium by 2.7% during the fourth quarter. Northern Trust Corp now owns 913,228 shares of the industrial products company's stock valued at $9,379,000 after purchasing an additional 23,789 shares during the period. Algert Global LLC increased its position in Constellium by 15.3% in the fourth quarter. Algert Global LLC now owns 32,040 shares of the industrial products company's stock worth $329,000 after buying an additional 4,250 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Constellium by 40.0% in the fourth quarter. Ameriprise Financial Inc. now owns 122,672 shares of the industrial products company's stock worth $1,260,000 after buying an additional 35,080 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in shares of Constellium during the 4th quarter valued at about $1,053,000. Institutional investors own 92.59% of the company's stock.

Constellium Trading Down 4.0%

Shares of NYSE:CSTM opened at $13.75 on Wednesday. The stock has a 50 day moving average of $14.07 and a 200 day moving average of $12.21. The company has a market cap of $1.92 billion, a PE ratio of 72.37 and a beta of 1.70. Constellium SE has a 12-month low of $7.32 and a 12-month high of $17.27. The company has a current ratio of 1.23, a quick ratio of 0.53 and a debt-to-equity ratio of 2.47.

Constellium (NYSE:CSTM - Get Free Report) last released its earnings results on Tuesday, July 29th. The industrial products company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.03). The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.08 billion. Constellium had a return on equity of 3.43% and a net margin of 0.37%. As a group, equities research analysts expect that Constellium SE will post 1.1 EPS for the current year.

Constellium Profile

Constellium SE, together with its subsidiaries, engages in the design, manufacture, and sale of rolled and extruded aluminum products for the packaging, aerospace, automotive, defense, and other transportation and industry end-markets. The company operates through three segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry.

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