American Century Companies Inc. Grows Stake in Commercial Metals (NYSE:CMC)

American Century Companies Inc. grew its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 1.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 852,994 shares of the basic materials company's stock after purchasing an additional 12,909 shares during the period. American Century Companies Inc. owned approximately 0.75% of Commercial Metals worth $42,309,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quantbot Technologies LP boosted its stake in shares of Commercial Metals by 209.2% during the 4th quarter. Quantbot Technologies LP now owns 19,219 shares of the basic materials company's stock worth $953,000 after acquiring an additional 13,004 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Commercial Metals by 44.9% during the fourth quarter. Teacher Retirement System of Texas now owns 35,565 shares of the basic materials company's stock worth $1,764,000 after purchasing an additional 11,015 shares during the last quarter. Chesapeake Capital Corp IL purchased a new stake in Commercial Metals during the fourth quarter worth $325,000. Xponance Inc. grew its holdings in Commercial Metals by 3.2% in the fourth quarter. Xponance Inc. now owns 16,794 shares of the basic materials company's stock valued at $833,000 after purchasing an additional 520 shares during the last quarter. Finally, Boston Partners increased its position in shares of Commercial Metals by 6.4% in the fourth quarter. Boston Partners now owns 4,055,150 shares of the basic materials company's stock valued at $201,178,000 after buying an additional 243,921 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Morgan Stanley lowered their price objective on shares of 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. BNP Paribas lowered shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research report on Friday, January 3rd. BMO Capital Markets cut their price objective on 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. Jefferies Financial Group reduced their target price on Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, The Goldman Sachs Group started coverage on Commercial Metals in a research report on Monday, December 2nd. They set a "buy" rating and a $75.00 price target for the company. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $60.33.

Commercial Metals Trading Up 2.3 %

Shares of NYSE CMC traded up $1.04 during trading on Tuesday, hitting $47.05. 1,484,811 shares of the company traded hands, compared to its average volume of 911,033. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $5.32 billion, a P/E ratio of 42.38, a P/E/G ratio of 2.62 and a beta of 1.17. The company has a 50-day moving average price of $48.48 and a 200-day moving average price of $52.65. Commercial Metals has a 1 year low of $42.62 and a 1 year high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing the consensus estimate 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 business's revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 earnings per share. On average, equities analysts predict 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. Shareholders 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 dividend on an annualized basis and a yield of 1.53%. 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.