Constellium (NYSE:CSTM) Hits New 52-Week High – Still a Buy?
by Jessica Moore · The Cerbat GemShares of Constellium SE (NYSE:CSTM – Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $27.54 and last traded at $27.4520, with a volume of 5182641 shares. The stock had previously closed at $24.58.
Analysts Set New Price Targets
Several research firms have commented on CSTM. Wells Fargo & Company increased their price objective on shares of Constellium from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, February 19th. Zacks Research upgraded Constellium from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. increased their price target on Constellium from $26.00 to $29.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. BMO Capital Markets raised their price target on Constellium from $25.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Constellium in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $29.00.
Check Out Our Latest Report on CSTM
Constellium Stock Down 0.0%
The business’s 50 day simple moving average is $24.69 and its 200 day simple moving average is $19.88. The company has a current ratio of 1.29, a quick ratio of 0.51 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $3.73 billion, a PE ratio of 14.31 and a beta of 1.43.
Constellium (NYSE:CSTM – Get Free Report) last announced its earnings results on Thursday, February 19th. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.44. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.05 billion. Constellium had a net margin of 3.23% and a return on equity of 32.14%. The business’s revenue was up 27.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.34) EPS. On average, equities research analysts forecast that Constellium SE will post 1.1 earnings per share for the current year.
Constellium announced that its Board of Directors has initiated a share repurchase 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 purchase up to 8.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Insiders Place Their Bets
In related news, SVP Philip Ryan Jurkovic sold 29,900 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $25.87, for a total value of $773,513.00. Following the completion of the sale, the senior vice president directly owned 210,723 shares in the company, valued at $5,451,404.01. This trade represents a 12.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marcus Becker sold 1,113 shares of Constellium stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $25.87, for a total transaction of $28,793.31. Following the transaction, the senior vice president directly owned 33,237 shares of the company’s stock, valued at $859,841.19. The trade was a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 214,543 shares of company stock worth $5,565,129. 1.54% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Constellium
Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Constellium by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 2,407,597 shares of the industrial products company’s stock worth $35,825,000 after purchasing an additional 236,264 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Constellium during the third quarter valued at approximately $2,876,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Constellium by 89.1% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 121,720 shares of the industrial products company’s stock valued at $1,811,000 after buying an additional 57,337 shares during the last quarter. Knights of Columbus Asset Advisors LLC purchased a new stake in shares of Constellium in the third quarter worth approximately $1,969,000. Finally, SG Americas Securities LLC raised its holdings in shares of Constellium by 97.2% in the third quarter. SG Americas Securities LLC now owns 889,288 shares of the industrial products company’s stock worth $13,233,000 after buying an additional 438,412 shares during the period. Institutional investors own 92.59% of the company’s stock.
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.