Millennium Management LLC Acquires 1,633,561 Shares of 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 boosted its position in Constellium SE (NYSE:CSTM - Free Report) by 65.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,115,439 shares of the industrial products company's stock after purchasing an additional 1,633,561 shares during the quarter. Millennium Management LLC owned about 2.88% of Constellium worth $41,525,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Constellium by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,021 shares of the industrial products company's stock valued at $777,000 after purchasing an additional 3,393 shares during the period. Encompass Capital Advisors LLC boosted its stake in Constellium by 82.6% in the 1st quarter. Encompass Capital Advisors LLC now owns 3,357,544 shares of the industrial products company's stock valued at $33,878,000 after purchasing an additional 1,519,220 shares during the period. Concentric Capital Strategies LP bought a new stake in Constellium in the 1st quarter valued at $803,000. Bridgeway Capital Management LLC boosted its stake in Constellium by 1.4% in the 1st quarter. Bridgeway Capital Management LLC now owns 850,506 shares of the industrial products company's stock valued at $8,582,000 after purchasing an additional 11,618 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Constellium by 354.0% during the 1st quarter. AQR Capital Management LLC now owns 91,566 shares of the industrial products company's stock valued at $924,000 after acquiring an additional 71,396 shares during the period. 92.59% of the stock is currently owned by institutional investors.

Constellium Price Performance

Shares of NYSE:CSTM traded up $0.36 during trading on Monday, reaching $15.30. 214,501 shares of the company traded hands, compared to its average volume of 1,548,133. The company's 50 day moving average is $14.09 and its two-hundred day moving average is $12.29. The firm has a market capitalization of $2.13 billion, a PE ratio of 80.66 and a beta of 1.70. The company has a quick ratio of 0.53, a current ratio of 1.23 and a debt-to-equity ratio of 2.47. Constellium SE has a 52 week low of $7.32 and a 52 week high of $17.27.

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

Constellium Company 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.