Chesapeake Capital Corp IL Takes $325,000 Position in Commercial Metals (NYSE:CMC)

Chesapeake Capital Corp IL acquired a new stake in Commercial Metals (NYSE:CMC) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 6,544 shares of the basic materials company’s stock, valued at approximately $325,000.

Other large investors have also modified their holdings of the company. Xponance Inc. raised its stake in shares of Commercial Metals by 3.2% during the fourth quarter. Xponance Inc. now owns 16,794 shares of the basic materials company’s stock worth $833,000 after purchasing an additional 520 shares during the last quarter. Boston Partners raised its position in Commercial Metals by 6.4% in the fourth quarter. Boston Partners now owns 4,055,150 shares of the basic materials company’s stock worth $201,178,000 after acquiring an additional 243,921 shares in the last quarter. Intech Investment Management LLC raised its position in Commercial Metals by 42.5% in the fourth quarter. Intech Investment Management LLC now owns 51,850 shares of the basic materials company’s stock worth $2,572,000 after acquiring an additional 15,458 shares in the last quarter. RD Lewis Holdings Inc. purchased a new position in Commercial Metals in the fourth quarter worth $1,883,000. Finally, William Blair Investment Management LLC raised its position in Commercial Metals by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 685,155 shares of the basic materials company’s stock worth $33,984,000 after acquiring an additional 16,828 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CMC. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $56.00 to $54.00 in a research report on Friday, January 10th. The Goldman Sachs Group began coverage on Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target for the company. BMO Capital Markets dropped their price target 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. Jefferies Financial Group decreased their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley decreased their price objective 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Commercial Metals currently has an average rating of “Hold” and a consensus price target of $61.83.

Commercial Metals Stock Performance

Commercial Metals stock opened at $46.30 on Wednesday. The stock’s 50-day moving average is $48.89 and its 200-day moving average is $52.85. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 41.71, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. 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 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business posted $1.49 EPS. Equities analysts anticipate 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 issued 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 1.56%. Commercial Metals’s dividend payout ratio (DPR) is 64.86%.

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.