Commercial Metals (NYSE:CMC) Holdings Lifted by Intech Investment Management LLC

Intech Investment Management LLC raised its holdings in Commercial Metals (NYSE:CMC - Free Report) by 42.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 51,850 shares of the basic materials company's stock after acquiring an additional 15,458 shares during the period. Intech Investment Management LLC's holdings in Commercial Metals were worth $2,572,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. State Street Corp grew its holdings in Commercial Metals by 0.4% in the 3rd quarter. State Street Corp now owns 5,830,412 shares of the basic materials company's stock valued at $320,439,000 after buying an additional 24,665 shares during the period. Geode Capital Management LLC lifted its stake in shares of Commercial Metals by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company's stock worth $156,093,000 after purchasing an additional 28,019 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Commercial Metals by 11.3% in the fourth quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company's stock worth $120,152,000 after buying an additional 245,468 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Commercial Metals by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company's stock valued at $94,208,000 after buying an additional 17,931 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Commercial Metals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company's stock worth $80,369,000 after purchasing an additional 18,262 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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Commercial Metals Stock Performance

CMC traded up $2.30 on Monday, hitting $48.89. 1,568,190 shares of the company's stock were exchanged, compared to its average volume of 866,506. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average of $48.86 and a two-hundred day moving average of $52.75. Commercial Metals has a twelve month low of $42.62 and a twelve month high of $64.53. The firm has a market cap of $5.56 billion, a PE ratio of 44.04, a P/E/G ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC - Get Free Report) last announced 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 return on equity of 9.88% and a net margin of 1.70%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last 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, research analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be issued a $0.18 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.47%. Commercial Metals's dividend payout ratio is currently 120.00%.

Analysts Set New Price Targets

A number of brokerages have commented on CMC. UBS Group cut their price objective on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a report on Monday. Jefferies Financial Group dropped their price objective on Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Monday, January 6th. The Goldman Sachs Group started coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a "buy" rating and a $75.00 price target for the company. BNP Paribas cut shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. Finally, Morgan Stanley decreased their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $60.33.

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.