Connor Clark & Lunn Investment Management Ltd. Has $1.17 Million Holdings in Commercial Metals (NYSE:CMC)

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Commercial Metals (NYSE:CMC - Free Report) by 77.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,660 shares of the basic materials company's stock after selling 79,358 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Commercial Metals were worth $1,174,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of Commercial Metals by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,081,153 shares of the basic materials company's stock worth $59,420,000 after buying an additional 66,092 shares during the period. Principal Financial Group Inc. increased its stake in shares of Commercial Metals by 1.1% during the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company's stock worth $94,208,000 after purchasing an additional 17,931 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Commercial Metals by 66.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 71,151 shares of the basic materials company's stock worth $3,529,000 after purchasing an additional 28,297 shares during the period. Vestcor Inc lifted its holdings in Commercial Metals by 108.0% during the 3rd quarter. Vestcor Inc now owns 18,103 shares of the basic materials company's stock worth $995,000 after purchasing an additional 9,400 shares during the last quarter. Finally, Covea Finance boosted its stake in Commercial Metals by 44.2% in the 4th quarter. Covea Finance now owns 62,000 shares of the basic materials company's stock valued at $3,075,000 after purchasing an additional 19,000 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

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

Commercial Metals Price Performance

NYSE:CMC traded up $2.30 during mid-day trading on Monday, reaching $48.89. The stock had a trading volume of 1,568,190 shares, compared to its average volume of 866,506. Commercial Metals has a 12 month low of $42.62 and a 12 month high of $64.53. The stock has a market capitalization of $5.56 billion, a PE ratio of 44.04, a P/E/G ratio of 2.62 and a beta of 1.17. 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 simple moving average of $48.86 and a two-hundred day simple moving average of $52.75.

Commercial Metals (NYSE:CMC - Get Free Report) 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 the consensus estimate of $0.31 by ($0.05). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the business posted $0.88 EPS. The company's revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.47%. Commercial Metals's dividend payout ratio (DPR) is currently 120.00%.

About Commercial Metals

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.