Nordea Investment Management AB Grows Position in Commercial Metals (NYSE:CMC)

Nordea Investment Management AB increased its stake in shares of Commercial Metals (NYSE:CMC) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 248,166 shares of the basic materials company’s stock after acquiring an additional 8,226 shares during the quarter. Nordea Investment Management AB owned about 0.22% of Commercial Metals worth $12,381,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Commercial Metals by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,081,153 shares of the basic materials company’s stock valued at $59,420,000 after purchasing an additional 66,092 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Commercial Metals by 1.1% during the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock valued at $94,208,000 after buying an additional 17,931 shares during the last quarter. Vestcor Inc grew its holdings in Commercial Metals by 108.0% during the 3rd quarter. Vestcor Inc now owns 18,103 shares of the basic materials company’s stock valued at $995,000 after buying an additional 9,400 shares in the last quarter. Seizert Capital Partners LLC increased its stake in Commercial Metals by 32.5% in the 3rd quarter. Seizert Capital Partners LLC now owns 75,873 shares of the basic materials company’s stock worth $4,170,000 after acquiring an additional 18,600 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised 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 worth $80,369,000 after acquiring an additional 18,262 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Trading Down 2.5 %

CMC opened at $47.65 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. The stock’s 50 day moving average price is $56.73 and its 200-day moving average price is $54.92. Commercial Metals has a one year low of $47.41 and a one year high of $64.53. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 2.74 and a beta of 1.19.

Commercial Metals (NYSE:CMC) last released its earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.78. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The business’s revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.49 earnings per share. On average, equities analysts forecast that Commercial Metals will post 4.26 EPS for the current year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th will be paid a $0.18 dividend. The ex-dividend date is Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.51%. Commercial Metals’s dividend payout ratio is currently 17.39%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CMC shares. BMO Capital Markets cut their target price on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a report on Friday, January 3rd. BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. The Goldman Sachs Group started 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 on the stock. UBS Group reiterated a “sell” rating and issued a $56.00 price target (down previously from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. Finally, Morgan Stanley began coverage on Commercial Metals in a research report on Thursday, December 19th. They set an “equal weight” rating and a $65.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $64.17.

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.