Public Employees Retirement System of Ohio Sells 153,412 Shares of Constellium SE $CSTM

Key Points

• The Public Employees Retirement System of Ohio significantly reduced its stake in Constellium SE by 96.2%, selling 153,412 shares during the second quarter, leaving it with only 6,142 shares valued at approximately $82,000.
• Various hedge funds made notable adjustments to their holdings in Constellium, with Westwood Holdings Group and Millennium Management increasing their positions by 12.2% and 65.8% respectively during the first quarter.
• Analysts have mixed opinions on Constellium, with Weiss Ratings reaffirming a "sell (d+)" rating and Zacks Research downgrading it to a "strong sell", while the stock maintains an average price target of $19.00.

Public Employees Retirement System of Ohio lowered its stake in shares of Constellium SE (NYSE:CSTM - Free Report) by 96.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,142 shares of the industrial products company's stock after selling 153,412 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Constellium were worth $82,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Westwood Holdings Group Inc. increased its position in shares of Constellium by 12.2% during the first quarter. Westwood Holdings Group Inc. now owns 6,518,601 shares of the industrial products company's stock valued at $65,773,000 after buying an additional 708,412 shares during the period. Millennium Management LLC increased its position in shares of Constellium by 65.8% during the first quarter. Millennium Management LLC now owns 4,115,439 shares of the industrial products company's stock valued at $41,525,000 after buying an additional 1,633,561 shares during the period. Encompass Capital Advisors LLC increased its position in shares of Constellium by 82.6% during the first quarter. Encompass Capital Advisors LLC now owns 3,357,544 shares of the industrial products company's stock valued at $33,878,000 after buying an additional 1,519,220 shares during the period. Nuveen LLC purchased a new position in shares of Constellium during the first quarter valued at about $19,630,000. Finally, Bridgeway Capital Management LLC increased its position in shares of Constellium by 1.4% during the first quarter. Bridgeway Capital Management LLC now owns 850,506 shares of the industrial products company's stock valued at $8,582,000 after buying an additional 11,618 shares during the period. Hedge funds and other institutional investors own 92.59% of the company's stock.

Wall Street Analyst Weigh In

CSTM has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Constellium in a research note on Saturday, September 27th. Zacks Research downgraded shares of Constellium from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 2nd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $19.00.

Constellium Trading Up 1.8%

NYSE:CSTM opened at $15.42 on Wednesday. The company's 50 day moving average price is $14.50 and its 200-day moving average price is $12.72. Constellium SE has a 52 week low of $7.32 and a 52 week high of $16.49. The company has a quick ratio of 0.53, a current ratio of 1.23 and a debt-to-equity ratio of 2.47. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 81.14 and a beta of 1.71.

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

About Constellium

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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