Rubric Capital Management LP Sells 2,139,063 Shares of Constellium SE (NYSE:CSTM)

Rubric Capital Management LP reduced its position in shares of Constellium SE (NYSE:CSTM) by 58.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,523,832 shares of the industrial products company’s stock after selling 2,139,063 shares during the quarter. Rubric Capital Management LP’s holdings in Constellium were worth $24,778,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSTM. FMR LLC grew its stake in shares of Constellium by 3.4% in the 3rd quarter. FMR LLC now owns 14,681,988 shares of the industrial products company’s stock worth $238,729,000 after buying an additional 484,011 shares in the last quarter. Westwood Holdings Group Inc. increased its stake in Constellium by 47.7% during the second quarter. Westwood Holdings Group Inc. now owns 4,131,418 shares of the industrial products company’s stock worth $77,877,000 after acquiring an additional 1,334,550 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Constellium by 8.3% during the second 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 purchasing an additional 257,618 shares during the period. Highland Peak Capital LLC lifted its stake in shares of Constellium by 14.1% in the 2nd quarter. Highland Peak Capital LLC now owns 1,902,378 shares of the industrial products company’s stock valued at $35,860,000 after purchasing an additional 234,756 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Constellium by 1.3% in 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 during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.

Constellium Stock Performance

Shares of Constellium stock opened at $12.47 on Wednesday. Constellium SE has a 12 month low of $10.49 and a 12 month high of $23.20. The stock’s fifty day moving average price is $13.64 and its 200-day moving average price is $16.76. The firm has a market cap of $1.80 billion, a P/E ratio of 16.85 and a beta of 1.65. The company has a current ratio of 1.28, a quick ratio of 0.52 and a debt-to-equity ratio of 1.93.

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

Wall Street Analyst Weigh In

Several research firms have commented on CSTM. StockNews.com lowered shares of Constellium from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. cut their target price on Constellium from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. BMO Capital Markets cut their price objective on Constellium from $22.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft downgraded Constellium from a “buy” rating to a “hold” rating and decreased their target price for the stock from $22.00 to $12.00 in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Constellium currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

About Constellium

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.