Commercial Metals (NYSE:CMC) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC increased its stake in Commercial Metals (NYSE:CMC) by 5.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,933 shares of the basic materials company’s stock after purchasing an additional 856 shares during the period. Commonwealth Equity Services LLC’s holdings in Commercial Metals were worth $889,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in shares of Commercial Metals during the third quarter valued at $342,000. BNP Paribas Financial Markets grew its stake in Commercial Metals by 18.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 29,772 shares of the basic materials company’s stock valued at $1,636,000 after purchasing an additional 4,699 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Commercial Metals by 8.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,710 shares of the basic materials company’s stock worth $1,633,000 after purchasing an additional 2,285 shares during the period. Rockefeller Capital Management L.P. acquired a new position in Commercial Metals in the 3rd quarter worth approximately $4,345,000. Finally, Verition Fund Management LLC purchased a new position in Commercial Metals during the 3rd quarter worth approximately $374,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Up 2.3 %

Commercial Metals stock opened at $47.05 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The stock has a market capitalization of $5.32 billion, a PE ratio of 42.38, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The business has a 50 day simple moving average of $48.48 and a 200-day simple moving average of $52.65. Commercial Metals has a 12 month low of $42.62 and a 12 month high of $64.53.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 EPS. On average, analysts anticipate that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Monday, March 31st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Monday, March 31st. Commercial Metals’s dividend payout ratio is presently 120.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. UBS Group lowered their target price on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. BMO Capital Markets reduced their price target on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research report on Friday, March 21st. Finally, Morgan Stanley decreased their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Commercial Metals has an average rating of “Hold” and an average price target of $60.33.

Commercial Metals Profile

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.