Congress Asset Management Co. Buys 7,155 Shares of Commercial Metals (NYSE:CMC)

Congress Asset Management Co. boosted its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,135 shares of the basic materials company's stock after purchasing an additional 7,155 shares during the quarter. Congress Asset Management Co. owned 0.06% of Commercial Metals worth $3,429,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. raised its stake in Commercial Metals by 10.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company's stock valued at $138,000 after purchasing an additional 254 shares during the last quarter. V Square Quantitative Management LLC raised its stake in Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 267 shares during the last quarter. Tectonic Advisors LLC raised its stake in Commercial Metals by 1.6% during the 3rd quarter. Tectonic Advisors LLC now owns 17,774 shares of the basic materials company's stock valued at $977,000 after purchasing an additional 272 shares during the last quarter. Assetmark Inc. raised its stake in Commercial Metals by 6.4% during the 3rd quarter. Assetmark Inc. now owns 4,602 shares of the basic materials company's stock valued at $253,000 after purchasing an additional 277 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its stake in Commercial Metals by 4.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,160 shares of the basic materials company's stock valued at $394,000 after purchasing an additional 287 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Price Performance

Shares of CMC traded down $1.06 during trading hours on Friday, hitting $49.78. The stock had a trading volume of 928,696 shares, compared to its average volume of 1,119,765. The company's fifty day moving average is $50.18 and its two-hundred day moving average is $53.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. Commercial Metals has a 52 week low of $45.50 and a 52 week high of $64.53. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 44.84, a P/E/G ratio of 2.66 and a beta of 1.18.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the firm earned $1.49 EPS. The firm's quarterly revenue was down 4.7% compared to the same quarter last year. On average, analysts anticipate that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Thursday, January 16th. Commercial Metals's payout ratio is 64.86%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CMC shares. The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They set a "buy" rating and a $75.00 target price for the company. Morgan Stanley lowered their price target on shares of Commercial Metals from $65.00 to $56.00 and set an "equal weight" rating on the stock in a report on Monday, February 3rd. Jefferies Financial Group lowered their price target on shares of Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Monday, January 6th. BNP Paribas lowered shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. Finally, UBS Group raised shares of Commercial Metals from a "sell" rating to a "neutral" rating and lowered their price target for the company from $56.00 to $54.00 in a report on Friday, January 10th. 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 stock has a consensus rating of "Hold" and an average target price of $62.33.

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.