Moore Capital Management LP Has $16.17 Million Holdings in Constellium SE $CSTM

Key Points

• Moore Capital Management reduced its Constellium stake by 25.5% in the fourth quarter, selling 294,088 shares and leaving it with 857,954 shares worth about $16.17 million.
• Constellium reported better-than-expected Q1 earnings, posting $1.42 EPS versus $0.62 expected, while revenue rose 24.4% year over year to $2.46 billion.
• The company also approved a $300 million share buyback, and analysts remain broadly positive with a consensus Buy rating and average price target of $36.60.

Moore Capital Management LP cut its holdings in Constellium SE (NYSE:CSTM - Free Report) by 25.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 857,954 shares of the industrial products company's stock after selling 294,088 shares during the period. Moore Capital Management LP owned about 0.62% of Constellium worth $16,172,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Constellium by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 2,407,597 shares of the industrial products company's stock valued at $35,825,000 after purchasing an additional 236,264 shares during the last quarter. GW&K Investment Management LLC acquired a new stake in shares of Constellium in the third quarter valued at approximately $2,381,000. Algert Global LLC raised its holdings in shares of Constellium by 71.8% in the third quarter. Algert Global LLC now owns 595,676 shares of the industrial products company's stock valued at $8,864,000 after purchasing an additional 249,020 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Constellium in the fourth quarter valued at approximately $8,239,000. Finally, Convergence Investment Partners LLC acquired a new stake in shares of Constellium in the fourth quarter valued at approximately $1,387,000. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Constellium Price Performance

NYSE:CSTM opened at $33.71 on Thursday. Constellium SE has a 1-year low of $12.68 and a 1-year high of $36.99. The company has a current ratio of 1.39, a quick ratio of 0.60 and a debt-to-equity ratio of 1.71. The firm has a fifty day simple moving average of $32.53 and a 200 day simple moving average of $25.99. The stock has a market capitalization of $4.59 billion, a PE ratio of 10.91 and a beta of 1.55.

Constellium (NYSE:CSTM - Get Free Report) last released its earnings results on Wednesday, April 29th. The industrial products company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.80. Constellium had a net margin of 4.87% and a return on equity of 46.22%. The business had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.43 billion. During the same period last year, the business earned $0.26 earnings per share. The firm's revenue was up 24.4% on a year-over-year basis. On average, research analysts expect that Constellium SE will post 3.34 EPS for the current fiscal year.

Constellium declared that its board has approved a share buyback program on Thursday, March 12th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 8.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In other Constellium news, SVP Philip Ryan Jurkovic sold 48,784 shares of Constellium stock in a transaction on Friday, May 1st. The shares were sold at an average price of $32.01, for a total transaction of $1,561,575.84. Following the completion of the transaction, the senior vice president directly owned 172,149 shares of the company's stock, valued at $5,510,489.49. The trade was a 22.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jack Q. Guo sold 25,201 shares of Constellium stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $32.62, for a total transaction of $822,056.62. Following the transaction, the chief financial officer directly owned 185,368 shares of the company's stock, valued at approximately $6,046,704.16. This trade represents a 11.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 195,153 shares of company stock valued at $6,369,312. 1.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. BMO Capital Markets set a $32.00 price objective on shares of Constellium and gave the company an "outperform" rating in a report on Thursday, April 9th. Zacks Research upgraded shares of Constellium from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. UBS Group started coverage on shares of Constellium in a report on Tuesday, May 5th. They issued a "buy" rating and a $38.00 price objective on the stock. Weiss Ratings raised shares of Constellium from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, June 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $40.00 target price on shares of Constellium in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Constellium currently has an average rating of "Buy" and a consensus target price of $36.60.

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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