Mountaineer Partners Management LLC Buys 8,428,150 Shares of Constellium SE (NYSE:CSTM)

Mountaineer Partners Management LLC grew its position in Constellium SE (NYSE:CSTM) by 1,683.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,928,919 shares of the industrial products company’s stock after buying an additional 8,428,150 shares during the quarter. Constellium accounts for 1.2% of Mountaineer Partners Management LLC’s holdings, making the stock its 12th largest holding. Mountaineer Partners Management LLC owned about 6.19% of Constellium worth $145,184,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. raised its stake in Constellium by 8.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 3,360,198 shares of the industrial products company’s stock worth $63,339,000 after acquiring an additional 257,618 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Constellium by 15.6% during the 3rd quarter. Victory Capital Management Inc. now owns 823,290 shares of the industrial products company’s stock worth $13,387,000 after purchasing an additional 111,390 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Constellium by 10.3% in the first quarter. Vanguard Group Inc. now owns 1,559,907 shares of the industrial products company’s stock valued at $34,490,000 after purchasing an additional 145,604 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Constellium in the second quarter valued at about $3,567,000. Finally, SG Americas Securities LLC purchased a new position in Constellium in the third quarter worth approximately $683,000. 92.59% of the stock is currently owned by institutional investors.

Constellium Stock Down 1.8 %

CSTM stock opened at $12.26 on Wednesday. Constellium SE has a twelve month low of $10.49 and a twelve month high of $23.20. The company has a current ratio of 1.28, a quick ratio of 0.52 and a debt-to-equity ratio of 1.93. The company has a market capitalization of $1.77 billion, a P/E ratio of 16.57 and a beta of 1.65. The firm has a 50 day simple moving average of $13.22 and a 200-day simple moving average of $16.48.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. BMO Capital Markets lowered their price objective on shares of Constellium from $22.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. StockNews.com downgraded shares of Constellium from a “buy” rating to a “hold” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered shares of Constellium from a “buy” rating to a “hold” rating and lowered their target price for the stock from $22.00 to $12.00 in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut their price target on Constellium from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. 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, the stock presently 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.