Commercial Metals (NYSE:CMC) Shares Acquired by AlphaQuest LLC

AlphaQuest LLC grew its position in Commercial Metals (NYSE:CMC) by 569,200.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,079 shares of the basic materials company’s stock after acquiring an additional 17,076 shares during the quarter. AlphaQuest LLC’s holdings in Commercial Metals were worth $847,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. State Street Corp boosted its holdings in shares of Commercial Metals by 0.4% in the third quarter. State Street Corp now owns 5,830,412 shares of the basic materials company’s stock valued at $320,439,000 after acquiring an additional 24,665 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Commercial Metals by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock worth $156,093,000 after purchasing an additional 28,019 shares during the period. Victory Capital Management Inc. lifted its holdings 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 purchasing an additional 245,468 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Commercial Metals by 1.1% during the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after purchasing an additional 17,931 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Commercial Metals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock worth $80,369,000 after purchasing an additional 18,262 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CMC. UBS Group raised Commercial Metals from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $56.00 to $54.00 in a report on Friday, January 10th. BMO Capital Markets decreased their price target on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a report on Friday, January 3rd. Morgan Stanley decreased their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday. BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Finally, Jefferies Financial Group reduced their target price on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Commercial Metals currently has a consensus rating of “Hold” and an average target price of $61.83.

Commercial Metals Price Performance

Commercial Metals stock opened at $43.24 on Tuesday. Commercial Metals has a one year low of $41.84 and a one year high of $64.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The business has a fifty day moving average of $49.37 and a two-hundred day moving average of $53.20. The company has a market cap of $4.91 billion, a P/E ratio of 38.95, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last announced 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 9.88% and a net margin of 1.70%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the business posted $1.49 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, analysts predict that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Thursday, January 16th. Commercial Metals’s dividend payout ratio is currently 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.