Constellium (NYSE:CSTM) Sees Unusually-High Trading Volume Following Strong Earnings

Shares of Constellium SE (NYSE:CSTM) saw an uptick in trading volume on Tuesday after the company announced better than expected quarterly earnings. 757,130 shares changed hands during mid-day trading, a decline of 15% from the previous session’s volume of 889,565 shares.The stock last traded at $17.38 and had previously closed at $18.51.

The industrial products company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.05. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.89 billion. Constellium had a return on equity of 17.93% and a net margin of 2.35%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 EPS.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BMO Capital Markets dropped their price objective on Constellium from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price objective on Constellium from $24.50 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Benchmark reissued a “buy” rating and set a $24.00 price objective on shares of Constellium in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. dropped their price objective on Constellium from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $25.00.

Institutional Trading of Constellium

Several institutional investors and hedge funds have recently modified their holdings of the business. DekaBank Deutsche Girozentrale purchased a new position in shares of Constellium during the 4th quarter valued at about $2,024,000. Principal Financial Group Inc. raised its holdings in shares of Constellium by 21.2% during the 4th quarter. Principal Financial Group Inc. now owns 1,231,960 shares of the industrial products company’s stock valued at $24,590,000 after buying an additional 215,458 shares in the last quarter. Norges Bank purchased a new position in shares of Constellium during the 4th quarter valued at about $18,845,000. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Constellium by 84.8% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,598,159 shares of the industrial products company’s stock valued at $51,860,000 after buying an additional 1,192,105 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Constellium by 170.2% during the 1st quarter. Sei Investments Co. now owns 279,648 shares of the industrial products company’s stock valued at $6,183,000 after buying an additional 176,158 shares in the last quarter. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Constellium Trading Down 2.8 %

The stock has a fifty day moving average of $19.95 and a two-hundred day moving average of $19.96. The company has a current ratio of 1.31, a quick ratio of 0.58 and a debt-to-equity ratio of 2.01. The company has a market capitalization of $2.52 billion, a PE ratio of 19.38 and a beta of 1.60.

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.