Ionic Capital Management LLC Sells 35,873 Shares of Constellium SE (NYSE:CSTM)

Ionic Capital Management LLC lowered its stake in Constellium SE (NYSE:CSTM) by 6.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 531,490 shares of the industrial products company’s stock after selling 35,873 shares during the quarter. Constellium makes up approximately 1.5% of Ionic Capital Management LLC’s investment portfolio, making the stock its 4th largest position. Ionic Capital Management LLC owned 0.37% of Constellium worth $8,642,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CSTM. Vaughan Nelson Investment Management L.P. grew its stake in 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 valued at $63,339,000 after buying an additional 257,618 shares in the last quarter. Victory Capital Management Inc. raised its position in Constellium by 15.6% in the third quarter. Victory Capital Management Inc. now owns 823,290 shares of the industrial products company’s stock worth $13,387,000 after acquiring an additional 111,390 shares during the period. Vanguard Group Inc. boosted its position in shares of Constellium by 10.3% during the first quarter. Vanguard Group Inc. now owns 1,559,907 shares of the industrial products company’s stock worth $34,490,000 after acquiring an additional 145,604 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Constellium during the second quarter valued at $3,567,000. Finally, SG Americas Securities LLC bought a new position in shares of Constellium during the 3rd quarter worth $683,000. 92.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CSTM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Constellium from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft downgraded shares of Constellium from a “buy” rating to a “hold” rating and reduced their price target for the company from $22.00 to $12.00 in a report on Thursday, October 24th. StockNews.com downgraded Constellium from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, BMO Capital Markets decreased their target price on Constellium from $22.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Constellium has a consensus rating of “Moderate Buy” and an average price target of $21.00.

Constellium Stock Up 1.8 %

CSTM opened at $12.48 on Tuesday. The company has a market capitalization of $1.80 billion, a PE ratio of 16.87 and a beta of 1.65. The company has a quick ratio of 0.52, a current ratio of 1.28 and a debt-to-equity ratio of 1.93. Constellium SE has a 52 week low of $10.49 and a 52 week high of $23.20. The firm has a 50-day simple moving average of $13.22 and a two-hundred day simple moving average of $16.48.

Constellium (NYSE:CSTM) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.38). The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Constellium had a return on equity of 10.83% and a net margin of 1.47%. The firm’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. Analysts forecast that Constellium SE will post 0.71 earnings per share for the current fiscal year.

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.