Rubric Capital Management LP Sells 2,139,063 Shares of Constellium SE (NYSE:CSTM)

Rubric Capital Management LP trimmed its position in shares of Constellium SE (NYSE:CSTM - Free Report) by 58.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,523,832 shares of the industrial products company's stock after selling 2,139,063 shares during the period. Rubric Capital Management LP owned about 1.06% of Constellium worth $24,778,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CWM LLC grew its position in shares of Constellium by 81.1% in the 2nd quarter. CWM LLC now owns 1,510 shares of the industrial products company's stock worth $28,000 after buying an additional 676 shares during the last quarter. SummerHaven Investment Management LLC grew its position in shares of Constellium by 1.7% in the 2nd 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 during the last quarter. Signaturefd LLC grew its position in shares of Constellium by 16.0% in the 2nd quarter. Signaturefd LLC now owns 6,752 shares of the industrial products company's stock worth $127,000 after buying an additional 933 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Constellium by 4.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 25,001 shares of the industrial products company's stock worth $407,000 after buying an additional 1,079 shares during the last quarter. Finally, Highland Capital Management LLC grew its position in shares of Constellium by 10.1% in the 3rd 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. 92.59% of the stock is currently owned by institutional investors.

Constellium Stock Down 1.8 %

Shares of CSTM traded down $0.23 on Wednesday, reaching $12.25. The stock had a trading volume of 805,434 shares, compared to its average volume of 1,112,976. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 16.47 and a beta of 1.65. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.52 and a current ratio of 1.28. The company has a 50-day simple moving average of $13.55 and a 200-day simple moving average of $16.70. Constellium SE has a 12-month low of $10.49 and a 12-month high of $23.20.

Constellium (NYSE:CSTM - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.38). The company had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.80 billion. Constellium had a net margin of 1.47% and a return on equity of 10.83%. The firm's quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 EPS. Sell-side analysts predict that Constellium SE will post 0.71 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.