Constellium (NYSE:CSTM) Trading Down 8.5%

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Constellium NV (NYSE:CSTM) shares dropped 8.5% during trading on Wednesday . The stock traded as low as $10.82 and last traded at $10.84, approximately 1,543,584 shares were traded during mid-day trading. An increase of 51% from the average daily volume of 1,022,395 shares. The stock had previously closed at $11.85.

CSTM has been the subject of several research analyst reports. ValuEngine lowered Constellium from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Deutsche Bank set a $12.00 price objective on Constellium and gave the stock a “buy” rating in a report on Thursday, July 11th.

The stock has a market capitalization of $1.59 billion, a P/E ratio of 15.27 and a beta of 1.71. The firm has a fifty day simple moving average of $10.94.

Constellium (NYSE:CSTM) last issued its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.20). Constellium had a negative return on equity of 49.69% and a net margin of 3.44%. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the firm earned $0.39 EPS. The business’s revenue was up 4.3% on a year-over-year basis. On average, research analysts predict that Constellium NV will post 0.86 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSTM. Norges Bank purchased a new position in Constellium during the fourth quarter valued at $7,280,000. FMR LLC lifted its position in Constellium by 24.9% during the first quarter. FMR LLC now owns 4,166,800 shares of the industrial products company’s stock valued at $33,251,000 after purchasing an additional 829,800 shares in the last quarter. Anchor Bolt Capital LP purchased a new position in Constellium during the second quarter valued at $7,754,000. SkyTop Capital Management LLC lifted its position in Constellium by 53.7% during the second quarter. SkyTop Capital Management LLC now owns 1,766,717 shares of the industrial products company’s stock valued at $17,738,000 after purchasing an additional 616,919 shares in the last quarter. Finally, Diameter Capital Partners LP lifted its position in Constellium by 37.8% during the second quarter. Diameter Capital Partners LP now owns 2,067,975 shares of the industrial products company’s stock valued at $20,762,000 after purchasing an additional 567,672 shares in the last quarter. Institutional investors own 65.85% of the company’s stock.

Constellium Company Profile (NYSE:CSTM)

Constellium N.V. engages in the design, manufacture, and sale of specialty rolled and extruded aluminum products for the aerospace, packaging, and automotive end-markets. The company operates in three segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry.

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