Jennison Associates LLC decreased its stake in Constellium N.V. (NYSE:CSTM) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,723,769 shares of the industrial products company’s stock after selling 275,549 shares during the period. Jennison Associates LLC owned about 3.49% of Constellium N.V. worth $25,694,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Fox Run Management L.L.C. bought a new stake in Constellium N.V. during the second quarter valued at about $108,000. Prescott Group Capital Management L.L.C. bought a new stake in Constellium N.V. during the first quarter valued at about $965,000. Boussard & Gavaudan Investment Management LLP increased its stake in Constellium N.V. by 59.8% in the second quarter. Boussard & Gavaudan Investment Management LLP now owns 1,513,802 shares of the industrial products company’s stock valued at $10,332,000 after buying an additional 566,447 shares during the last quarter. RMB Capital Management LLC increased its stake in Constellium N.V. by 11.1% in the first quarter. RMB Capital Management LLC now owns 185,496 shares of the industrial products company’s stock valued at $1,206,000 after buying an additional 18,550 shares during the last quarter. Finally, Credit Suisse AG increased its stake in Constellium N.V. by 1,949.8% in the first quarter. Credit Suisse AG now owns 390,975 shares of the industrial products company’s stock valued at $2,541,000 after buying an additional 371,901 shares during the last quarter. Hedge funds and other institutional investors own 62.19% of the company’s stock.
Shares of Constellium N.V. (CSTM) opened at 10.30 on Friday. The firm’s 50-day moving average price is $9.02 and its 200 day moving average price is $7.36. The firm has a market cap of $1.09 billion, a P/E ratio of 39.46 and a beta of 0.77. Constellium N.V. has a 12-month low of $4.85 and a 12-month high of $10.95.
Constellium N.V. (NYSE:CSTM) last announced its earnings results on Thursday, July 27th. The industrial products company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.24 by $0.08. Constellium N.V. had a net margin of 0.48% and a negative return on equity of 4.31%. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities analysts expect that Constellium N.V. will post $0.61 earnings per share for the current fiscal year.
CSTM has been the topic of several recent analyst reports. Seaport Global Securities downgraded Constellium N.V. from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $8.00 to $9.00 in a report on Friday, July 28th. BidaskClub upgraded Constellium N.V. from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Cowen and Company boosted their price objective on Constellium N.V. from $6.00 to $8.30 and gave the stock a “market perform” rating in a report on Monday, July 31st. Finally, BMO Capital Markets set a $9.00 price objective on Constellium N.V. and gave the stock a “hold” rating in a report on Friday, July 28th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $8.77.
Constellium N.V. Company Profile
Constellium N.V. is a Netherlands-based company engaged in developing aluminum products for a range of markets and applications, including aerospace, automotive and packaging. The Company’s manufacturing facilities are located in the United States, Europe and China. It operates through three segments: Packaging & Automotive Rolled Product; Aerospace & Transportation, and Automotive Structures & Industry.
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