Harbour Capital Advisors LLC Sells 245 Shares of Commercial Metals (NYSE:CMC)

Harbour Capital Advisors LLC reduced its stake in Commercial Metals (NYSE:CMCFree Report) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,525 shares of the basic materials company’s stock after selling 245 shares during the quarter. Harbour Capital Advisors LLC’s holdings in Commercial Metals were worth $417,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in shares of Commercial Metals in the third quarter valued at about $66,000. GAMMA Investing LLC raised its position in Commercial Metals by 56.6% in the 4th 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 during the last quarter. KBC Group NV boosted its position 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 worth $170,000 after acquiring an additional 425 shares during the last quarter. Highland Capital Management LLC bought a new position in shares of Commercial Metals during the 3rd quarter worth approximately $206,000. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Commercial Metals by 29.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,798 shares of the basic materials company’s stock worth $209,000 after acquiring an additional 870 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CMC. Morgan Stanley started coverage on shares of Commercial Metals in a report on Thursday, December 19th. They set an “equal weight” rating and a $65.00 target price for the company. BMO Capital Markets cut 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 decreased their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wolfe Research lowered Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Finally, BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Commercial Metals currently has an average rating of “Hold” and a consensus target price of $63.83.

Check Out Our Latest Stock Report on Commercial Metals

Commercial Metals Price Performance

Shares of NYSE CMC opened at $48.52 on Tuesday. The company has a quick ratio of 2.78, a current ratio of 3.94 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average price is $56.35 and its two-hundred day moving average price is $54.80. The company has a market cap of $5.51 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. Commercial Metals has a twelve month low of $45.50 and a twelve month high of $64.53.

Commercial Metals (NYSE:CMCGet Free Report) last posted its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the business earned $1.49 EPS. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, analysts predict that Commercial Metals will post 4.26 EPS for the current year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Thursday, January 16th. Commercial Metals’s dividend payout ratio is presently 64.86%.

Commercial Metals Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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