SG Americas Securities LLC Has $110,000 Stock Position in Commercial Metals (NYSE:CMC)

SG Americas Securities LLC lowered its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 92.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,211 shares of the basic materials company's stock after selling 28,255 shares during the quarter. SG Americas Securities LLC's holdings in Commercial Metals were worth $110,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CMC. Thurston Springer Miller Herd & Titak Inc. boosted its position in Commercial Metals by 10.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company's stock worth $138,000 after acquiring an additional 254 shares during the period. Tectonic Advisors LLC boosted its position in Commercial Metals by 1.6% during the 3rd quarter. Tectonic Advisors LLC now owns 17,774 shares of the basic materials company's stock worth $977,000 after acquiring an additional 272 shares during the period. Assetmark Inc. boosted its position in Commercial Metals by 6.4% during the 3rd quarter. Assetmark Inc. now owns 4,602 shares of the basic materials company's stock worth $253,000 after acquiring an additional 277 shares during the period. Verdence Capital Advisors LLC boosted its position in Commercial Metals by 4.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,160 shares of the basic materials company's stock worth $394,000 after acquiring an additional 287 shares during the period. Finally, TD Private Client Wealth LLC boosted its position in Commercial Metals by 6.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 5,908 shares of the basic materials company's stock worth $325,000 after acquiring an additional 332 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CMC. UBS Group upgraded Commercial Metals from a "sell" rating to a "neutral" rating and reduced their price target for the stock from $56.00 to $54.00 in a research report on Friday, January 10th. Morgan Stanley reduced their price target on Commercial Metals from $65.00 to $56.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. Jefferies Financial Group reduced their price target on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group assumed coverage on Commercial Metals in a report on Monday, December 2nd. They issued a "buy" rating and a $75.00 price objective for the company. Finally, BNP Paribas lowered Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $62.33.

Commercial Metals Price Performance

Shares of Commercial Metals stock traded up $0.92 during trading on Friday, hitting $52.40. The stock had a trading volume of 1,096,586 shares, compared to its average volume of 996,336. The business has a fifty day moving average of $51.05 and a two-hundred day moving average of $53.76. The firm has a market cap of $5.95 billion, a P/E ratio of 47.20, a PEG ratio of 2.58 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. Commercial Metals has a fifty-two week low of $45.50 and a fifty-two week high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.78. The company 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%. Commercial Metals's revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.49 earnings per share. On average, sell-side analysts expect that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, January 16th. Commercial Metals's dividend payout ratio (DPR) is presently 64.86%.

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.