Ritholtz Wealth Management Buys Shares of 36,973 Constellium SE $CSTM

Key Points

• Ritholtz Wealth Management initiated a new position in Constellium SE, buying 36,973 shares worth about $909,000 in the first quarter.
• Constellium reported better-than-expected Q1 earnings, posting $1.42 EPS versus the $0.62 consensus estimate, while revenue rose 24.4% year over year to $2.46 billion.
• The company’s board approved a $300 million share buyback, and analysts remain generally upbeat with a consensus Buy rating and average price target of $36.60.

Ritholtz Wealth Management bought a new position in shares of Constellium SE (NYSE:CSTM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,973 shares of the industrial products company's stock, valued at approximately $909,000.

Other large investors also recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of Constellium by 5.3% during the 1st quarter. Royal Bank of Canada now owns 72,526 shares of the industrial products company's stock valued at $732,000 after buying an additional 3,629 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Constellium by 354.0% in the first quarter. AQR Capital Management LLC now owns 91,566 shares of the industrial products company's stock worth $924,000 after acquiring an additional 71,396 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Constellium by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 77,021 shares of the industrial products company's stock valued at $777,000 after acquiring an additional 3,393 shares during the period. Prudential Financial Inc. bought a new position in shares of Constellium during the second quarter valued at approximately $218,000. Finally, Norges Bank bought a new position in shares of Constellium during the second quarter valued at approximately $1,499,000. 92.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Jack Q. Guo sold 25,201 shares of Constellium stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $32.62, for a total transaction of $822,056.62. Following the sale, the chief financial officer directly owned 185,368 shares in the company, valued at $6,046,704.16. The trade was a 11.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michiel Brandjes sold 10,400 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $31.25, for a total transaction of $325,000.00. Following the completion of the sale, the director directly owned 41,600 shares of the company's stock, valued at $1,300,000. The trade was a 20.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 195,153 shares of company stock valued at $6,369,312. Company insiders own 1.20% of the company's stock.

Constellium Stock Performance

Shares of NYSE CSTM opened at $31.11 on Tuesday. 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 stock has a 50 day simple moving average of $33.13 and a 200-day simple moving average of $26.87. The company has a market cap of $4.24 billion, a PE ratio of 10.07 and a beta of 1.55. Constellium SE has a 12-month low of $13.04 and a 12-month high of $36.99.

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

Constellium declared that its board has approved a share buyback plan on Thursday, March 12th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 8.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently issued reports on CSTM shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $40.00 price target on shares of Constellium in a report on Thursday, April 30th. Wells Fargo & Company increased their target price on Constellium from $35.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Zacks Research upgraded Constellium from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. BMO Capital Markets set a $32.00 price target on shares of Constellium and gave the company an "outperform" rating in a report on Thursday, April 9th. Finally, UBS Group initiated coverage on shares of Constellium in a research report on Tuesday, May 5th. They set a "buy" rating and a $38.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $36.60.

Constellium 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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