Stevens Capital Management LP Invests $276,000 in Commercial Metals (NYSE:CMC)

Stevens Capital Management LP purchased a new position in Commercial Metals (NYSE:CMC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,561 shares of the basic materials company's stock, valued at approximately $276,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. lifted its position in Commercial Metals by 122.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company's stock worth $68,455,000 after buying an additional 686,519 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Commercial Metals in the 3rd quarter worth approximately $16,731,000. Victory Capital Management Inc. boosted its stake in shares of Commercial Metals by 11.3% in the 4th quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company's stock valued at $120,152,000 after purchasing an additional 245,468 shares in the last quarter. Boston Partners boosted its stake in shares of Commercial Metals by 6.4% in the 4th quarter. Boston Partners now owns 4,055,150 shares of the basic materials company's stock valued at $201,178,000 after purchasing an additional 243,921 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Commercial Metals during the 4th quarter valued at $11,052,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Commercial Metals Trading Down 3.1 %

NYSE:CMC traded down $1.48 during trading hours on Friday, hitting $46.90. The company had a trading volume of 67,813 shares, compared to its average volume of 864,199. 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 stock has a 50-day moving average price of $48.75 and a 200 day moving average price of $52.68. The company has a market capitalization of $5.33 billion, a PE ratio of 42.31, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. Commercial Metals has a 52 week low of $42.62 and a 52 week high of $64.53.

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Commercial Metals (NYSE:CMC - Get Free Report) last announced its earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share 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 company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm posted $0.88 EPS. The company's revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities research analysts predict that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.54%. The ex-dividend date is Monday, March 31st. Commercial Metals's dividend payout ratio is currently 120.00%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CMC shares. Jefferies Financial Group cut their price target on shares of Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Monday, January 6th. BMO Capital Markets dropped their target price on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a report on Friday, March 21st. Morgan Stanley decreased their price target on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. The Goldman Sachs Group started coverage on Commercial Metals in a research note on Monday, December 2nd. They set a "buy" rating and a $75.00 price objective for the company. Finally, UBS Group decreased 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 note on Monday. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $60.33.

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.