Short Interest in Constellium SE (NYSE:CSTM) Drops By 5.4%

Constellium SE (NYSE:CSTM) saw a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 2,470,000 shares, a decline of 5.4% from the September 30th total of 2,610,000 shares. Based on an average daily volume of 1,330,000 shares, the short-interest ratio is currently 1.9 days. Approximately 1.9% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. CWM LLC lifted its holdings in Constellium by 81.1% in the 2nd quarter. CWM LLC now owns 1,510 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 676 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in Constellium by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 42,134 shares of the industrial products company’s stock worth $794,000 after buying an additional 698 shares in the last quarter. Signaturefd LLC boosted its holdings in Constellium by 16.0% during the second quarter. Signaturefd LLC now owns 6,752 shares of the industrial products company’s stock worth $127,000 after buying an additional 933 shares in the last quarter. Highland Capital Management LLC grew its position in Constellium by 10.1% in the third quarter. Highland Capital Management LLC now owns 13,462 shares of the industrial products company’s stock worth $219,000 after buying an additional 1,233 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Constellium by 29.9% in the first quarter. Advisors Asset Management Inc. now owns 7,065 shares of the industrial products company’s stock valued at $156,000 after buying an additional 1,625 shares in the last quarter. 92.59% of the stock is owned by institutional investors and hedge funds.

Constellium Stock Performance

Shares of NYSE CSTM traded up $0.01 during midday trading on Thursday, reaching $11.33. 536,431 shares of the company traded hands, compared to its average volume of 1,086,418. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 12.50 and a beta of 1.59. The stock has a 50-day moving average price of $15.34 and a 200 day moving average price of $17.89. Constellium has a 52 week low of $10.49 and a 52 week high of $23.20. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.33 and a quick ratio of 0.60.

Constellium (NYSE:CSTM) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.38). Constellium had a return on equity of 17.59% and a net margin of 2.35%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the firm posted $0.47 earnings per share. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Constellium will post 1.54 earnings per share for the current fiscal year.

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.