Stevens Capital Management LP Takes Position in Commercial Metals (NYSE:CMC)

Stevens Capital Management LP purchased a new position in shares of Commercial Metals (NYSE:CMC) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 5,561 shares of the basic materials company’s stock, valued at approximately $276,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Heck Capital Advisors LLC bought a new stake in shares of Commercial Metals during the 4th quarter valued at $34,000. V Square Quantitative Management LLC increased its stake in shares of Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 267 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 297 shares during the period. Amundi increased its stake in Commercial Metals by 29.9% in the fourth quarter. Amundi now owns 2,189 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 504 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Commercial Metals by 56.6% in the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after purchasing an additional 944 shares during the period. 86.90% of the stock is owned by institutional investors.

Commercial Metals Price Performance

Shares of CMC opened at $48.89 on Tuesday. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. Commercial Metals has a twelve month low of $42.62 and a twelve month high of $64.53. The stock has a market capitalization of $5.56 billion, a P/E ratio of 44.04, a P/E/G ratio of 2.62 and a beta of 1.17. The company has a 50 day moving average of $48.87 and a 200-day moving average of $52.74.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company posted $0.88 EPS. The business’s revenue was down 5.1% on a year-over-year basis. As a group, equities research analysts forecast that Commercial Metals will post 3.09 EPS 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 given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Monday, March 31st. Commercial Metals’s dividend payout ratio (DPR) is presently 120.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CMC. BMO Capital Markets dropped their price objective on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research note on Friday. UBS Group dropped their price target on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday. 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 research report on Monday, January 6th. Morgan Stanley dropped their target price on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Finally, The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.33.

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.