Constellium SE (NYSE:CSTM) Stake Lessened by Jennison Associates LLC

Jennison Associates LLC lowered its holdings in Constellium SE (NYSE:CSTM) by 96.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,310 shares of the industrial products company’s stock after selling 4,876,073 shares during the period. Jennison Associates LLC owned approximately 0.12% of Constellium worth $1,780,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Geneos Wealth Management Inc. purchased a new stake in shares of Constellium in the fourth quarter valued at $31,000. Blue Trust Inc. lifted its holdings in shares of Constellium by 863.5% in the third quarter. Blue Trust Inc. now owns 1,956 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 1,753 shares in the last quarter. Quarry LP lifted its holdings in shares of Constellium by 45.3% in the third quarter. Quarry LP now owns 7,296 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 2,273 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Constellium by 41.5% in the third quarter. Signaturefd LLC now owns 9,557 shares of the industrial products company’s stock valued at $155,000 after purchasing an additional 2,805 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of Constellium during the third quarter worth $168,000. Hedge funds and other institutional investors own 92.59% of the company’s stock.

Constellium Trading Up 1.4 %

Constellium stock opened at $9.82 on Friday. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.28 and a quick ratio of 0.52. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 13.26 and a beta of 1.68. Constellium SE has a one year low of $9.35 and a one year high of $23.20. The company’s fifty day moving average price is $10.66 and its two-hundred day moving average price is $13.37.

Analyst Ratings Changes

Several brokerages recently issued reports on CSTM. BMO Capital Markets cut their price objective on Constellium from $22.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. StockNews.com lowered Constellium from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft lowered Constellium from a “buy” rating to a “hold” rating and cut their price objective for the stock from $22.00 to $12.00 in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut their price objective on Constellium from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Constellium currently has a consensus rating of “Moderate Buy” and an average price target of $19.50.

Constellium 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.