Corient Private Wealth LLC lowered its holdings in shares of Commercial Metals (NYSE:CMC – Free Report) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,560 shares of the basic materials company’s stock after selling 754 shares during the quarter. Corient Private Wealth LLC’s holdings in Commercial Metals were worth $1,169,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Heck Capital Advisors LLC purchased a new position in Commercial Metals in the 4th quarter worth about $34,000. V Square Quantitative Management LLC grew its stake in Commercial Metals by 60.7% in the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 267 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 297 shares during the period. Amundi lifted its holdings in shares of Commercial Metals by 29.9% in the 4th quarter. Amundi now owns 2,189 shares of the basic materials company’s stock worth $108,000 after buying an additional 504 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Commercial Metals by 56.6% in the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after acquiring an additional 944 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.
Wall Street Analyst Weigh In
CMC has been the subject of several recent analyst reports. The Goldman Sachs Group began coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price for the company. Jefferies Financial Group decreased their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. UBS Group decreased their price target on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Morgan Stanley dropped their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $60.33.
Commercial Metals Price Performance
Shares of NYSE:CMC opened at $48.83 on Thursday. Commercial Metals has a twelve month low of $42.62 and a twelve month high of $64.53. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The company has a market cap of $5.55 billion, a PE ratio of 43.99, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company’s 50 day moving average is $48.81 and its 200 day moving average is $52.71.
Commercial Metals (NYSE:CMC – Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The business had revenue of $1.75 billion during the quarter, compared to analyst estimates 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 was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 EPS. On average, sell-side analysts forecast that Commercial Metals will post 3.09 EPS for the current year.
Commercial Metals Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.47%. 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.
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