EMC Capital Management Trims Stake in Commercial Metals (NYSE:CMC)

EMC Capital Management reduced its holdings in Commercial Metals (NYSE:CMC - Free Report) by 75.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,193 shares of the basic materials company's stock after selling 16,013 shares during the quarter. EMC Capital Management's holdings in Commercial Metals were worth $258,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Commercial Metals in the third quarter valued at approximately $66,000. 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 valued at $130,000 after acquiring an additional 944 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in Commercial Metals by 10.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company's stock valued at $138,000 after acquiring an additional 254 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Commercial Metals in the fourth quarter valued at approximately $134,000. Finally, KBC Group NV grew its stake in Commercial Metals by 15.9% in the third quarter. KBC Group NV now owns 3,099 shares of the basic materials company's stock valued at $170,000 after acquiring an additional 425 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Stock Performance

CMC stock traded up $0.21 during midday trading on Tuesday, hitting $47.85. The company's stock had a trading volume of 279,032 shares, compared to its average volume of 1,100,296. The stock's 50-day moving average price is $53.20 and its 200 day moving average price is $54.31. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. Commercial Metals has a 1 year low of $45.50 and a 1 year high of $64.53. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 43.14, a PEG ratio of 2.49 and a beta of 1.18.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business's revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.49 earnings per share. On average, equities analysts forecast 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. Shareholders of record on Thursday, January 16th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $0.72 annualized dividend and a dividend yield of 1.50%. Commercial Metals's payout ratio is presently 64.86%.

Wall Street Analyst Weigh In

CMC has been the subject of a number of research reports. BMO Capital Markets reduced their price objective on Commercial Metals from $62.00 to $58.00 and set a "market perform" rating for the company in a research note on Friday, January 3rd. UBS Group raised Commercial Metals from a "sell" rating to a "neutral" rating and cut their target price for the company from $56.00 to $54.00 in a research report on Friday, January 10th. BNP Paribas cut Commercial Metals from an "outperform" rating to a "neutral" rating in a research report on Friday, January 3rd. Morgan Stanley cut their target price on Commercial Metals from $65.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Monday. Finally, Wolfe Research cut Commercial Metals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus 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.