Spring Capital Management LLC Purchases New Holdings in Commercial Metals (NYSE:CMC)

Spring Capital Management LLC purchased a new stake in shares of Commercial Metals (NYSE:CMC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,000 shares of the basic materials company's stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CMC. Jacobs Levy Equity Management Inc. boosted its position in Commercial Metals by 122.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company's stock valued at $68,455,000 after buying an additional 686,519 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its stake in shares of Commercial Metals by 58.0% during the third quarter. Thompson Siegel & Walmsley LLC now owns 1,440,531 shares of the basic materials company's stock valued at $79,172,000 after acquiring an additional 528,876 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new position in Commercial Metals in the third quarter valued at about $16,731,000. Van ECK Associates Corp increased its position in Commercial Metals by 204.3% in the third quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company's stock worth $21,570,000 after purchasing an additional 282,511 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Commercial Metals by 17.5% during the 2nd quarter. AQR Capital Management LLC now owns 774,218 shares of the basic materials company's stock worth $42,203,000 after purchasing an additional 115,326 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Stock Down 0.5 %

Shares of NYSE CMC traded down $0.25 during mid-day trading on Friday, reaching $50.63. 739,215 shares of the company's stock were exchanged, compared to its average volume of 1,058,324. The company has a current ratio of 2.76, a quick ratio of 2.78 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $55.57 and a 200 day simple moving average of $54.70. Commercial Metals has a twelve month low of $45.50 and a twelve month high of $64.53. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 45.61, a PEG ratio of 2.08 and a beta of 1.19.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, meeting analysts' consensus estimates 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 net margin of 1.70% and a return on equity of 9.88%. The business's revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 earnings per share. As a group, equities analysts expect that Commercial Metals will post 3.47 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $0.72 annualized dividend and a dividend yield of 1.42%. Commercial Metals's dividend payout ratio is currently 64.86%.

Analysts Set New Price Targets

Several brokerages have recently commented on CMC. Jefferies Financial Group lowered their price target on shares of Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Monday, January 6th. BNP Paribas cut shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research report on Friday, January 3rd. Wolfe Research lowered Commercial Metals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, October 9th. Morgan Stanley began coverage on Commercial Metals in a research note on Thursday, December 19th. They set an "equal weight" rating and a $65.00 price objective for the company. Finally, 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 note on Friday, January 10th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Commercial Metals currently has an average rating of "Hold" and an average target price of $63.83.

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.