Xponance Inc. Acquires 520 Shares of Commercial Metals (NYSE:CMC)

Xponance Inc. boosted its holdings in Commercial Metals (NYSE:CMC) by 3.2% in the 4th quarter, HoldingsChannel reports. The firm owned 16,794 shares of the basic materials company’s stock after purchasing an additional 520 shares during the quarter. Xponance Inc.’s holdings in Commercial Metals were worth $833,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CMC. Intech Investment Management LLC boosted its position in shares of Commercial Metals by 87.8% during the third quarter. Intech Investment Management LLC now owns 36,392 shares of the basic materials company’s stock worth $2,000,000 after acquiring an additional 17,010 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Commercial Metals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock valued at $80,369,000 after purchasing an additional 18,262 shares during the last quarter. Citigroup Inc. grew its position in shares of Commercial Metals by 99.0% during the third quarter. Citigroup Inc. now owns 123,506 shares of the basic materials company’s stock valued at $6,788,000 after purchasing an additional 61,447 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Commercial Metals by 37.8% in the third quarter. Cerity Partners LLC now owns 38,990 shares of the basic materials company’s stock worth $2,143,000 after purchasing an additional 10,693 shares during the last quarter. Finally, Qsemble Capital Management LP lifted its position in shares of Commercial Metals by 20.9% in the third quarter. Qsemble Capital Management LP now owns 8,973 shares of the basic materials company’s stock worth $493,000 after buying an additional 1,549 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 price objective on the stock. UBS Group reduced their price target on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday. BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Jefferies Financial Group reduced their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Morgan Stanley lowered their price target on shares of 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $60.33.

Commercial Metals Price Performance

CMC stock opened at $48.89 on Tuesday. The stock has a market cap of $5.56 billion, a PE ratio of 44.04, a P/E/G ratio of 2.62 and a beta of 1.17. Commercial Metals has a 12 month low of $42.62 and a 12 month high of $64.53. The company has a 50-day moving average price of $48.87 and a 200 day moving average price of $52.74. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29.

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

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.47%. The ex-dividend date is Monday, March 31st. Commercial Metals’s dividend payout ratio (DPR) is presently 120.00%.

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.