Commercial Metals (NYSE:CMC) Shares Bought by Royce & Associates LP

Royce & Associates LP grew its position in Commercial Metals (NYSE:CMC) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 461,467 shares of the basic materials company’s stock after buying an additional 30,750 shares during the quarter. Royce & Associates LP’s holdings in Commercial Metals were worth $22,889,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CMC. Heck Capital Advisors LLC purchased a new position in shares of Commercial Metals in the fourth quarter valued at $34,000. V Square Quantitative Management LLC increased its position in shares of 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 valued at $35,000 after buying an additional 267 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Commercial Metals by 22.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after buying an additional 297 shares in the last quarter. Amundi increased its position in shares of Commercial Metals by 29.9% in the fourth quarter. Amundi now owns 2,189 shares of the basic materials company’s stock valued at $108,000 after buying an additional 504 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Commercial Metals by 56.6% in the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after buying an additional 944 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CMC. Morgan Stanley dropped their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. BMO Capital Markets dropped their price objective on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday, January 3rd. The Goldman Sachs Group initiated coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective for the company. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $56.00 to $54.00 in a research report on Friday, January 10th. Finally, Jefferies Financial Group dropped their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.83.

Commercial Metals Stock Up 4.1 %

CMC opened at $46.33 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 41.73, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The business has a 50-day moving average of $49.03 and a two-hundred day moving average of $52.95. Commercial Metals has a 12 month low of $42.62 and a 12 month high of $64.53.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, meeting the consensus estimate 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 9.88% and a net margin of 1.70%. The company’s revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.49 EPS. On average, research analysts expect that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Thursday, January 16th. Commercial Metals’s dividend payout ratio is currently 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.