Commercial Metals (NYSE:CMC) Stock Position Decreased by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its stake in Commercial Metals (NYSE:CMC) by 0.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 138,505 shares of the basic materials company’s stock after selling 1,183 shares during the quarter. Retirement Systems of Alabama’s holdings in Commercial Metals were worth $6,870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. First Dallas Securities Inc. increased its stake in Commercial Metals by 41.5% in the 4th quarter. First Dallas Securities Inc. now owns 30,079 shares of the basic materials company’s stock worth $1,492,000 after purchasing an additional 8,828 shares in the last quarter. Hodges Capital Management Inc. boosted its holdings in shares of Commercial Metals by 24.2% in the fourth quarter. Hodges Capital Management Inc. now owns 290,942 shares of the basic materials company’s stock worth $14,431,000 after buying an additional 56,666 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of Commercial Metals in the fourth quarter worth approximately $34,000. Hantz Financial Services Inc. raised its holdings in shares of Commercial Metals by 92.8% during the fourth quarter. Hantz Financial Services Inc. now owns 30,205 shares of the basic materials company’s stock valued at $1,498,000 after acquiring an additional 14,537 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in shares of Commercial Metals by 9.3% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 10,476 shares of the basic materials company’s stock valued at $520,000 after acquiring an additional 889 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CMC shares. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and reduced their target price for the company from $56.00 to $54.00 in a report on Friday, January 10th. Jefferies Financial Group reduced their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target for the company. Finally, BMO Capital Markets decreased their price target 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. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $62.33.

Commercial Metals Price Performance

Commercial Metals stock opened at $49.68 on Monday. The business’s 50-day simple moving average is $52.19 and its 200 day simple moving average is $54.07. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of 44.76, a P/E/G ratio of 2.58 and a beta of 1.18. Commercial Metals has a 12-month low of $45.50 and a 12-month high of $64.53.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the firm earned $1.49 earnings per share. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. As a group, research analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Thursday, January 16th were given a $0.18 dividend. The ex-dividend date was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.45%. Commercial Metals’s dividend payout ratio is 64.86%.

About Commercial Metals

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.