BlackRock Inc. Buys 2,052,599 Shares of Constellium (CSTM)

BlackRock Inc. boosted its stake in shares of Constellium (NYSE:CSTM) by 2,011.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,154,669 shares of the industrial products company’s stock after buying an additional 2,052,599 shares during the quarter. BlackRock Inc.’s holdings in Constellium were worth $24,025,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CSTM. Monarch Partners Asset Management LLC acquired a new position in Constellium during the 4th quarter worth about $16,219,000. Boussard & Gavaudan Investment Management LLP lifted its stake in shares of Constellium by 79.9% in the 4th quarter. Boussard & Gavaudan Investment Management LLP now owns 2,719,822 shares of the industrial products company’s stock valued at $30,054,000 after purchasing an additional 1,207,612 shares during the period. Governors Lane LP lifted its stake in shares of Constellium by 97.9% in the 4th quarter. Governors Lane LP now owns 2,275,288 shares of the industrial products company’s stock valued at $25,369,000 after purchasing an additional 1,125,288 shares during the period. Evermore Global Advisors LLC lifted its stake in shares of Constellium by 28.7% in the 4th quarter. Evermore Global Advisors LLC now owns 2,533,103 shares of the industrial products company’s stock valued at $28,244,000 after purchasing an additional 565,248 shares during the period. Finally, Brightline Capital Management LLC acquired a new position in shares of Constellium in the 4th quarter valued at about $5,073,000. 80.71% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of NYSE:CSTM opened at $11.80 on Monday. The stock has a market capitalization of $1,240.59, a PE ratio of -36.88 and a beta of 0.90. The company has a debt-to-equity ratio of -6.34, a quick ratio of 0.68 and a current ratio of 1.26. Constellium has a 1 year low of $5.35 and a 1 year high of $14.10.

Constellium (NYSE:CSTM) last announced its quarterly earnings data on Thursday, February 22nd. The industrial products company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.87). Constellium had a negative net margin of 0.66% and a negative return on equity of 5.81%. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. equities research analysts forecast that Constellium will post 1.08 EPS for the current fiscal year.

CSTM has been the topic of a number of recent analyst reports. ValuEngine downgraded Constellium from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Goldman Sachs initiated coverage on Constellium in a research note on Tuesday, March 20th. They issued a “buy” rating and a $16.00 price objective on the stock. Morgan Stanley boosted their price objective on Constellium from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Societe Generale downgraded Constellium from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. Finally, Cowen set a $20.00 price objective on Constellium and gave the company a “buy” rating in a research note on Tuesday, February 6th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Constellium has a consensus rating of “Hold” and a consensus target price of $14.60.

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About Constellium

Constellium N.V. engages in the design, manufacture, and sale of specialty rolled and extruded aluminum products for the aerospace, packaging, and automotive end-markets. The company operates in three segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry.

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Institutional Ownership by Quarter for Constellium (NYSE:CSTM)

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