Jennison Associates LLC Sells 133,920 Shares of Constellium SE (NYSE:CSTM)

Jennison Associates LLC lessened its holdings in Constellium SE (NYSE:CSTM) by 2.6% in the third quarter, HoldingsChannel reports. The fund owned 5,049,383 shares of the industrial products company’s stock after selling 133,920 shares during the period. Jennison Associates LLC’s holdings in Constellium were worth $82,103,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CSTM. CWM LLC raised its stake in 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 purchasing an additional 676 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Constellium by 863.5% during the third quarter. Blue Trust Inc. now owns 1,956 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 1,753 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Constellium in the second quarter valued at approximately $85,000. Quarry LP boosted its stake in shares of Constellium by 290.0% in the second quarter. Quarry LP now owns 5,023 shares of the industrial products company’s stock valued at $95,000 after buying an additional 3,735 shares during the period. Finally, Signaturefd LLC grew its position in Constellium by 16.0% during the second quarter. Signaturefd LLC now owns 6,752 shares of the industrial products company’s stock worth $127,000 after buying an additional 933 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Constellium Stock Up 0.7 %

Shares of NYSE CSTM opened at $11.66 on Thursday. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 15.76 and a beta of 1.65. The company has a current ratio of 1.28, a quick ratio of 0.52 and a debt-to-equity ratio of 1.93. Constellium SE has a 12 month low of $10.49 and a 12 month high of $23.20. The stock has a 50-day moving average price of $13.89 and a two-hundred day moving average price of $16.95.

Constellium (NYSE:CSTM) last released 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). Constellium had a return on equity of 10.83% and a net margin of 1.47%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the company earned $0.47 earnings per share. Constellium’s revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, analysts forecast that Constellium SE will post 0.71 earnings per share for the current fiscal year.

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.