Commercial Metals (NYSE:CMC) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC raised its holdings in Commercial Metals (NYSE:CMC) by 42.5% during the 4th quarter, Holdings Channel reports. The firm owned 51,850 shares of the basic materials company’s stock after purchasing an additional 15,458 shares during the quarter. Intech Investment Management LLC’s holdings in Commercial Metals were worth $2,572,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of CMC. Atria Investments Inc acquired a new position in Commercial Metals during the third quarter worth approximately $290,000. KBC Group NV grew its holdings in Commercial Metals by 15.9% during the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock valued at $170,000 after purchasing an additional 425 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Commercial Metals during the 3rd quarter valued at $1,008,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Commercial Metals during the 3rd quarter valued at $5,662,000. Finally, Moran Wealth Management LLC boosted its stake in Commercial Metals by 336.7% during the 3rd quarter. Moran Wealth Management LLC now owns 60,372 shares of the basic materials company’s stock valued at $3,318,000 after acquiring an additional 46,547 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

CMC has been the topic of a number of recent research reports. UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $56.00 to $54.00 in a research report on Friday, January 10th. The Goldman Sachs Group initiated 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 on the stock. BMO Capital Markets reduced their price target on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research report on Friday, January 3rd. Jefferies Financial Group reduced their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Morgan Stanley reduced their price target on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Commercial Metals presently has an average rating of “Hold” and a consensus target price of $61.83.

Commercial Metals Trading Up 1.0 %

NYSE:CMC opened at $46.82 on Thursday. Commercial Metals has a 12 month low of $42.62 and a 12 month high of $64.53. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 42.18, a P/E/G ratio of 2.62 and a beta of 1.17. 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 company’s 50 day moving average is $48.88 and its 200-day moving average is $52.81.

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

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.54%. Commercial Metals’s dividend payout ratio (DPR) is presently 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.