Prudential Financial Inc. Reduces Stake in Commercial Metals (NYSE:CMC)

Prudential Financial Inc. cut its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 139,534 shares of the basic materials company's stock after selling 19,784 shares during the quarter. Prudential Financial Inc. owned approximately 0.12% of Commercial Metals worth $6,921,000 at the end of the most recent reporting period.

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

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Commercial Metals Stock Down 10.7 %

Shares of CMC stock traded down $5.02 during trading hours on Thursday, reaching $42.02. 998,469 shares of the company's stock were exchanged, compared to its average volume of 1,229,809. Commercial Metals has a 1 year low of $41.56 and a 1 year high of $64.53. 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 market cap of $4.75 billion, a PE ratio of 37.86, a PEG ratio of 2.62 and a beta of 1.17. The stock's fifty day moving average price is $48.42 and its two-hundred day moving average price is $52.61.

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

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Monday, March 31st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Monday, March 31st. Commercial Metals's payout ratio is 120.00%.

Analyst Ratings Changes

Several analysts have issued reports on CMC shares. BMO Capital Markets dropped their target price on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a research report on Friday, March 21st. Morgan Stanley dropped their price objective on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Friday, March 7th. Jefferies Financial Group reduced their target price on shares of Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a report on Monday, January 6th. BNP Paribas lowered shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research report on Friday, January 3rd. Finally, 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 research report on Monday, March 24th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $60.33.

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.