Allspring Global Investments Holdings LLC Grows Stock Position in Constellium SE (NYSE:CSTM)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Constellium SE (NYSE:CSTM) by 464.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 124,067 shares of the industrial products company’s stock after acquiring an additional 102,085 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.09% of Constellium worth $2,743,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. increased its stake in 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 purchasing an additional 1,192,105 shares in the last quarter. Rubric Capital Management LP raised its stake in Constellium by 49.6% in the 4th quarter. Rubric Capital Management LP now owns 2,924,438 shares of the industrial products company’s stock worth $58,372,000 after acquiring an additional 970,164 shares during the last quarter. Norges Bank acquired a new stake in Constellium during the 4th quarter worth about $18,845,000. Cannell & Co. grew its stake in Constellium by 29.3% during the 4th quarter. Cannell & Co. now owns 2,561,727 shares of the industrial products company’s stock valued at $51,132,000 after purchasing an additional 580,500 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC acquired a new position in shares of Constellium in the fourth quarter valued at about $8,816,000. 92.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CSTM has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Constellium from $28.00 to $27.00 and set an “overweight” rating on the stock in a research report on Thursday, April 25th. Benchmark reiterated a “buy” rating and issued a $24.00 price objective on shares of Constellium in a research note on Friday, April 19th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Constellium currently has a consensus rating of “Buy” and a consensus price target of $25.40.

Constellium Price Performance

NYSE:CSTM opened at $18.94 on Wednesday. The company has a 50 day moving average price of $20.42 and a 200-day moving average price of $20.06. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 21.04 and a beta of 1.60. Constellium SE has a 1-year low of $14.12 and a 1-year high of $23.20. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.31 and a quick ratio of 0.58.

Constellium (NYSE:CSTM) last released its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.15). Constellium had a return on equity of 15.68% and a net margin of 1.73%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.71 billion. Equities research analysts forecast that Constellium SE will post 1.77 EPS for the current year.

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.