Choreo LLC Decreases Stock Holdings in Commercial Metals (NYSE:CMC)

Choreo LLC reduced its position in Commercial Metals (NYSE:CMC) by 7.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,787 shares of the basic materials company’s stock after selling 884 shares during the period. Choreo LLC’s holdings in Commercial Metals were worth $531,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Heck Capital Advisors LLC acquired a new stake in Commercial Metals in the fourth quarter valued at approximately $34,000. nVerses Capital LLC acquired a new stake in shares of Commercial Metals in the 3rd quarter worth $66,000. GAMMA Investing LLC grew its stake in Commercial Metals by 56.6% during the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after buying an additional 944 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Commercial Metals by 10.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock valued at $138,000 after buying an additional 254 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Commercial Metals in the fourth quarter valued at about $134,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $56.00 to $54.00 in a research note on Friday, January 10th. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target for the company. BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Jefferies Financial Group reduced their target price on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, BMO Capital Markets dropped their price target on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $62.33.

Commercial Metals Trading Down 1.8 %

Shares of Commercial Metals stock opened at $49.88 on Wednesday. The stock has a market cap of $5.67 billion, a PE ratio of 44.94, a price-to-earnings-growth ratio of 2.58 and a beta of 1.18. The firm has a fifty day moving average price of $51.68 and a 200 day moving average price of $53.94. Commercial Metals has a 1 year low of $45.50 and a 1 year high of $64.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the business posted $1.49 EPS. The company’s revenue was down 4.7% on a year-over-year basis. Equities research analysts predict that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend was Thursday, January 16th. Commercial Metals’s payout ratio is presently 64.86%.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.