Natixis Advisors LLC Sells 598 Shares of Commercial Metals (NYSE:CMC)

Natixis Advisors LLC cut its holdings in shares of Commercial Metals (NYSE:CMC) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,863 shares of the basic materials company’s stock after selling 598 shares during the quarter. Natixis Advisors LLC’s holdings in Commercial Metals were worth $1,092,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CMC. Boston Partners grew its position in shares of Commercial Metals by 23,390.7% during the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock valued at $180,752,000 after acquiring an additional 3,063,241 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in Commercial Metals during the second quarter valued at $50,132,000. Van ECK Associates Corp increased its position in Commercial Metals by 204.3% in the third quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company’s stock worth $21,570,000 after buying an additional 282,511 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Commercial Metals by 163.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 219,770 shares of the basic materials company’s stock valued at $11,756,000 after buying an additional 136,367 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of Commercial Metals by 17.5% during the 2nd quarter. AQR Capital Management LLC now owns 774,218 shares of the basic materials company’s stock valued at $42,203,000 after buying an additional 115,326 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Price Performance

CMC opened at $62.15 on Wednesday. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $7.08 billion, a P/E ratio of 15.01, a PEG ratio of 2.63 and a beta of 1.14. The stock has a 50-day moving average price of $55.74 and a 200-day moving average price of $54.75. Commercial Metals has a 12-month low of $43.52 and a 12-month high of $63.40.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Equities analysts predict that Commercial Metals will post 4.35 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.16%. Commercial Metals’s dividend payout ratio (DPR) is currently 17.39%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CMC. BMO Capital Markets set a $62.00 target price on shares of Commercial Metals and gave the stock a “market perform” rating in a research note on Friday, October 18th. Jefferies Financial Group assumed coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective for the company. Finally, Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.25.

Commercial Metals Company 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.