Thornburg Investment Management Inc. Purchases Shares of 251,735 Constellium SE $CSTM

Key Points

• Thornburg Investment Management disclosed a new position in Constellium SE, buying 251,735 shares in the fourth quarter worth about $4.75 million.
• Wall Street sentiment on Constellium remains positive, with analysts giving it a Buy consensus rating and an average price target of $36.60.
• Constellium reported strong quarterly results, including $1.42 EPS versus $0.62 expected and revenue of $2.46 billion, while also authorizing a $300 million share buyback.

Thornburg Investment Management Inc. purchased a new stake in Constellium SE (NYSE:CSTM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 251,735 shares of the industrial products company's stock, valued at approximately $4,745,000. Thornburg Investment Management Inc. owned approximately 0.18% of Constellium as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Ethic Inc. raised its holdings in shares of Constellium by 1.6% in the 4th quarter. Ethic Inc. now owns 29,283 shares of the industrial products company's stock valued at $552,000 after acquiring an additional 456 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Constellium by 29.7% in the 4th quarter. GAMMA Investing LLC now owns 3,089 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 707 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Constellium by 52.5% in the 4th quarter. Allworth Financial LP now owns 2,074 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 714 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Constellium by 34.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,151 shares of the industrial products company's stock valued at $59,000 after acquiring an additional 803 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Constellium by 1.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,027 shares of the industrial products company's stock valued at $1,038,000 after acquiring an additional 1,006 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CSTM. UBS Group began coverage on Constellium in a report on Tuesday, May 5th. They issued a "buy" rating and a $38.00 price target on the stock. Wells Fargo & Company raised their price target on Constellium from $35.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $40.00 price target on shares of Constellium in a report on Thursday, April 30th. Zacks Research raised Constellium from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $34.00 price objective (up from $30.00) on shares of Constellium in a research report on Thursday, April 30th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Constellium has a consensus rating of "Buy" and an average price target of $36.60.

Insider Buying and Selling at Constellium

In related news, Director Michiel Brandjes sold 10,400 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $31.25, for a total transaction of $325,000.00. Following the transaction, the director directly owned 41,600 shares in the company, valued at $1,300,000. This trade represents a 20.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Nicolas Brun sold 26,661 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $33.85, for a total value of $902,474.85. Following the transaction, the senior vice president owned 104,891 shares in the company, valued at approximately $3,550,560.35. The trade was a 20.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 195,153 shares of company stock worth $6,369,312 over the last quarter. Company insiders own 1.20% of the company's stock.

Constellium Price Performance

CSTM opened at $34.66 on Tuesday. The stock's 50 day simple moving average is $32.28 and its 200 day simple moving average is $25.74. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.39 and a quick ratio of 0.60. Constellium SE has a 1 year low of $12.68 and a 1 year high of $36.99. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of 11.22 and a beta of 1.55.

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

Constellium declared that its board has initiated a stock repurchase program 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 purchase up to 8.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

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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