Huber Capital Management LLC Decreases Stake in Commercial Metals (NYSE:CMC)

Huber Capital Management LLC cut its holdings in shares of Commercial Metals (NYSE:CMC) by 40.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,600 shares of the basic materials company’s stock after selling 6,400 shares during the quarter. Huber Capital Management LLC’s holdings in Commercial Metals were worth $476,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CMC. Norges Bank bought a new stake in shares of Commercial Metals in the fourth quarter valued at approximately $69,261,000. Franklin Resources Inc. raised its holdings in Commercial Metals by 87.0% during the 4th quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company’s stock valued at $95,204,000 after acquiring an additional 893,094 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Commercial Metals by 45.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,576,316 shares of the basic materials company’s stock worth $78,185,000 after acquiring an additional 495,163 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Commercial Metals by 11.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company’s stock worth $120,152,000 after acquiring an additional 245,468 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of 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 during the period. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

CMC has been the topic of a number of recent research reports. UBS Group dropped their price objective on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. BMO Capital Markets lowered their price target on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a report on Friday, March 21st. BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Jefferies Financial Group decreased their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Morgan Stanley cut their price target on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.33.

Commercial Metals Trading Up 0.3 %

Shares of Commercial Metals stock opened at $47.14 on Thursday. 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 1 year low of $42.62 and a 1 year high of $64.53. The firm has a market cap of $5.33 billion, a PE ratio of 42.47, a PEG ratio of 2.62 and a beta of 1.17. The company has a 50 day simple moving average of $48.42 and a two-hundred day simple moving average of $52.61.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 earnings per share. Analysts expect that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Monday, March 31st. Commercial Metals’s payout ratio is currently 120.00%.

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.