Cannell & Spears LLC Sells 3,136,020 Shares of Constellium SE (NYSE:CSTM)

Cannell & Spears LLC trimmed its holdings in shares of Constellium SE (NYSE:CSTM) by 96.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,882 shares of the industrial products company’s stock after selling 3,136,020 shares during the period. Cannell & Spears LLC’s holdings in Constellium were worth $1,344,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CSTM. Victory Capital Management Inc. boosted its position in Constellium by 15.1% during the fourth quarter. Victory Capital Management Inc. now owns 947,430 shares of the industrial products company’s stock valued at $9,730,000 after purchasing an additional 124,140 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Constellium during the 4th quarter worth approximately $1,386,000. Barclays PLC boosted its holdings in shares of Constellium by 476.1% in the 3rd quarter. Barclays PLC now owns 336,569 shares of the industrial products company’s stock valued at $5,473,000 after buying an additional 278,149 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Constellium by 41.7% in the fourth quarter. SG Americas Securities LLC now owns 59,521 shares of the industrial products company’s stock valued at $611,000 after buying an additional 17,515 shares in the last quarter. Finally, Verition Fund Management LLC increased its holdings in Constellium by 102.8% during the third quarter. Verition Fund Management LLC now owns 158,902 shares of the industrial products company’s stock worth $2,584,000 after buying an additional 80,552 shares during the last quarter. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Deutsche Bank Aktiengesellschaft upgraded shares of Constellium from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Tuesday, February 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Constellium Stock Performance

CSTM opened at $10.11 on Tuesday. 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 12-month low of $9.04 and a 12-month high of $23.20. The business has a 50 day moving average of $10.62 and a 200-day moving average of $11.87. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 31.58 and a beta of 1.64.

Constellium (NYSE:CSTM) last announced its quarterly earnings results on Thursday, February 20th. The industrial products company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.47). Constellium had a net margin of 0.67% and a return on equity of 4.83%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.69 billion. On average, equities research analysts expect that Constellium SE will post 1.1 earnings per share for the current year.

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.