Constellium (NYSE:CSTM) Shares Down 5.4% Following Weak Earnings

Constellium SE (NYSE:CSTM)’s share price fell 5.4% on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $20.00 and last traded at $20.18. 1,559,268 shares changed hands during trading, an increase of 111% from the average session volume of 739,664 shares. The stock had previously closed at $21.33.

The industrial products company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.15). Constellium had a net margin of 1.73% and a return on equity of 15.90%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.71 billion.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CSTM. JPMorgan Chase & Co. cut their price objective on Constellium from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Thursday. UBS Group assumed coverage on shares of Constellium in a research note on Tuesday, January 16th. They issued a “buy” rating and a $27.00 price objective for the company. Benchmark reissued a “buy” rating and issued a $24.00 price objective on shares of Constellium in a research note on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Constellium from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $25.40.

Hedge Funds Weigh In On Constellium

Large investors have recently bought and sold shares of the business. Vaughan Nelson Investment Management L.P. grew its holdings in Constellium by 84.8% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,598,159 shares of the industrial products company’s stock worth $51,860,000 after purchasing an additional 1,192,105 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Constellium by 2,745.7% in the third quarter. Principal Financial Group Inc. now owns 1,016,502 shares of the industrial products company’s stock worth $18,500,000 after purchasing an additional 980,781 shares during the last quarter. Rubric Capital Management LP grew its holdings in Constellium by 49.6% in the fourth quarter. Rubric Capital Management LP now owns 2,924,438 shares of the industrial products company’s stock worth $58,372,000 after purchasing an additional 970,164 shares during the last quarter. Norges Bank purchased a new position in Constellium in the fourth quarter worth $18,845,000. Finally, Cannell & Co. grew its holdings in Constellium by 29.3% in the fourth quarter. Cannell & Co. now owns 2,561,727 shares of the industrial products company’s stock worth $51,132,000 after purchasing an additional 580,500 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Constellium Stock Up 1.6 %

The stock has a market capitalization of $2.99 billion, a PE ratio of 23.00 and a beta of 1.71. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.31 and a quick ratio of 0.52. The business’s fifty day moving average price is $20.59 and its two-hundred day moving average price is $18.92.

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.