Nut Tree Capital Management LP cut its position in shares of Constellium SE (NYSE:CSTM) by 2.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,300,000 shares of the industrial products company’s stock after selling 100,000 shares during the quarter. Constellium accounts for 12.9% of Nut Tree Capital Management LP’s investment portfolio, making the stock its 3rd biggest holding. Nut Tree Capital Management LP owned approximately 2.36% of Constellium worth $62,535,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of CSTM. Nisa Investment Advisors LLC purchased a new position in Constellium during the second quarter worth $27,000. Eagle Bay Advisors LLC purchased a new position in Constellium during the second quarter worth $35,000. Ameritas Investment Partners Inc. purchased a new position in Constellium during the second quarter worth $182,000. SG Americas Securities LLC purchased a new position in Constellium during the second quarter worth $214,000. Finally, Bridgewater Associates LP purchased a new position in Constellium during the second quarter worth $295,000. 91.41% of the stock is owned by hedge funds and other institutional investors.
Shares of CSTM traded up $0.14 during midday trading on Thursday, reaching $19.22. 10,597 shares of the company were exchanged, compared to its average volume of 986,407. The stock has a 50-day moving average price of $19.68 and a 200-day moving average price of $18.23. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 11.78 and a beta of 2.62. Constellium SE has a 1-year low of $8.05 and a 1-year high of $21.59. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of 13.85.
A number of equities research analysts have recently commented on the company. TheStreet raised Constellium from a “d” rating to a “c+” rating in a research report on Wednesday, July 28th. The Goldman Sachs Group assumed coverage on Constellium in a research report on Thursday, September 9th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Constellium from $21.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Constellium has a consensus rating of “Buy” and an average price target of $21.67.
Constellium SE operates as a holding company with interest in the design and manufacture of a range of specialty rolled, and extruded aluminum products, serving primarily the aerospace, packaging and automotive end-markets. The company operates through the following segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry.
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