HighTower Advisors LLC Has $2.92 Million Stock Holdings in Commercial Metals (NYSE:CMC)

HighTower Advisors LLC boosted its position in shares of Commercial Metals (NYSE:CMC - Free Report) by 269.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,768 shares of the basic materials company's stock after acquiring an additional 42,840 shares during the period. HighTower Advisors LLC owned 0.05% of Commercial Metals worth $2,915,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new position in shares of Commercial Metals during the 4th quarter worth about $34,000. V Square Quantitative Management LLC lifted its holdings in shares of Commercial Metals by 60.7% during the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after buying an additional 267 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Commercial Metals by 22.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock valued at $82,000 after acquiring an additional 297 shares during the period. Amundi grew its stake in shares of Commercial Metals by 29.9% in the fourth quarter. Amundi now owns 2,189 shares of the basic materials company's stock worth $108,000 after acquiring an additional 504 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Commercial Metals by 56.6% in the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company's stock worth $130,000 after acquiring an additional 944 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several analysts have issued reports on CMC shares. BMO Capital Markets decreased their price target on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a research report on Friday. The Goldman Sachs Group began coverage on Commercial Metals in a research 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 report on Friday, March 7th. BNP Paribas downgraded Commercial Metals from an "outperform" rating to a "neutral" rating in a research report on Friday, January 3rd. Finally, Jefferies Financial Group lowered their price objective on Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Commercial Metals has an average rating of "Hold" and an average target price of $60.33.

Commercial Metals Price Performance

Shares of Commercial Metals stock traded down $0.17 during midday trading on Tuesday, hitting $48.58. 1,207,848 shares of the company were exchanged, compared to its average volume of 865,864. The firm has a 50 day simple moving average of $48.87 and a 200-day simple moving average of $52.74. 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 firm has a market cap of $5.52 billion, a P/E ratio of 43.77, a PEG 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.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm's revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 earnings per share. Research analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Monday, March 31st. Commercial Metals's payout ratio is 120.00%.

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.