Constellium (NYSE:CSTM) Sees Strong Trading Volume Following Strong Earnings

Constellium SE (NYSE:CSTM) shares saw unusually-high trading volume on Tuesday following a better than expected earnings announcement. Approximately 757,130 shares were traded during trading, a decline of 15% from the previous session’s volume of 889,565 shares.The stock last traded at $17.38 and had previously closed at $18.51.

The industrial products company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. The business had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.89 billion. Constellium had a net margin of 2.35% and a return on equity of 17.93%. Constellium’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CSTM shares. BMO Capital Markets dropped their price objective on shares of Constellium from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reduced their price objective on Constellium from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Benchmark restated a “buy” rating and issued a $24.00 target price on shares of Constellium in a research note on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Constellium from $24.50 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Constellium has a consensus rating of “Buy” and an average target price of $25.00.

Institutional Investors Weigh In On Constellium

A number of institutional investors have recently made changes to their positions in CSTM. Vaughan Nelson Investment Management L.P. lifted its position in shares of Constellium by 8.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 3,360,198 shares of the industrial products company’s stock worth $63,339,000 after purchasing an additional 257,618 shares during the period. Rubric Capital Management LP lifted its stake in shares of Constellium by 49.6% in the 4th quarter. Rubric Capital Management LP now owns 2,924,438 shares of the industrial products company’s stock valued at $58,372,000 after purchasing an additional 970,164 shares during the period. Westwood Holdings Group Inc. increased its holdings in Constellium by 12,970.1% in the first quarter. Westwood Holdings Group Inc. now owns 2,796,868 shares of the industrial products company’s stock worth $61,839,000 after purchasing an additional 2,775,469 shares in the last quarter. Cannell & Co. increased its stake in Constellium by 29.3% in the fourth quarter. Cannell & Co. now owns 2,561,727 shares of the industrial products company’s stock valued at $51,132,000 after purchasing an additional 580,500 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Constellium by 1.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,698,900 shares of the industrial products company’s stock worth $37,563,000 after purchasing an additional 21,569 shares in the last quarter. Institutional investors own 92.59% of the company’s stock.

Constellium Price Performance

The business has a 50-day moving average of $19.95 and a 200 day moving average of $19.96. The company has a current ratio of 1.31, a quick ratio of 0.58 and a debt-to-equity ratio of 2.01. The firm has a market capitalization of $2.53 billion, a P/E ratio of 19.38 and a beta of 1.60.

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.