Cibc World Markets Corp Invests $529,000 in Commercial Metals (NYSE:CMC)

Cibc World Markets Corp bought a new position in Commercial Metals (NYSE:CMC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,662 shares of the basic materials company's stock, valued at approximately $529,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Heck Capital Advisors LLC purchased a new stake in shares of Commercial Metals during the 4th quarter worth about $34,000. V Square Quantitative Management LLC boosted its position in 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 during the last quarter. Jones Financial Companies Lllp increased its holdings in Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock worth $82,000 after purchasing an additional 297 shares during the last quarter. Amundi grew its holdings in Commercial Metals by 29.9% during the 4th quarter. Amundi now owns 2,189 shares of the basic materials company's stock worth $108,000 after acquiring an additional 504 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake 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 in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CMC. 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. BNP Paribas cut shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. Jefferies Financial Group lowered 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. The Goldman Sachs Group assumed coverage on Commercial Metals in a research report on Monday, December 2nd. They set a "buy" rating and a $75.00 price objective for the company. Finally, UBS Group lowered their price objective on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Commercial Metals presently has a consensus rating of "Hold" and a consensus target price of $60.33.

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Commercial Metals Stock Performance

Commercial Metals stock traded up $0.30 on Wednesday, reaching $48.83. 1,068,136 shares of the stock were exchanged, compared to its average volume of 867,593. The stock has a market cap of $5.55 billion, a PE ratio of 43.99, a PEG ratio of 2.62 and a beta of 1.17. The firm has a fifty day moving average price of $48.86 and a two-hundred day moving average price of $52.73. Commercial Metals has a twelve month low of $42.62 and a twelve month high of $64.53. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The business's revenue for the quarter was down 5.1% compared to the same quarter last year. Sell-side analysts anticipate that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Monday, March 31st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 1.47%. Commercial Metals's dividend payout ratio (DPR) is 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.