Grantham Mayo Van Otterloo & Co. LLC Increases Stake in Commercial Metals (NYSE:CMC)

Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of Commercial Metals (NYSE:CMC) by 26.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 85,338 shares of the basic materials company’s stock after acquiring an additional 17,827 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Commercial Metals were worth $4,233,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CMC. Heck Capital Advisors LLC acquired a new position in Commercial Metals in the fourth quarter valued at approximately $34,000. V Square Quantitative Management LLC boosted its holdings 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 buying an additional 267 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after buying an additional 297 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Commercial Metals during the 4th quarter worth $105,000. Finally, Amundi lifted its position 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 acquiring an additional 504 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Commercial Metals Stock Performance

NYSE:CMC opened at $40.95 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 36.89, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. The firm’s fifty day moving average price is $48.07 and its 200 day moving average price is $52.48. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $64.53.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results 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 firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 earnings per share. On average, sell-side analysts expect 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. Stockholders of record on Monday, March 31st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.76%. Commercial Metals’s dividend payout ratio is currently 120.00%.

Commercial Metals 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.