Van ECK Associates Corp Grows Holdings in Commercial Metals (NYSE:CMC)

Van ECK Associates Corp boosted its position in shares of Commercial Metals (NYSE:CMC - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 485,146 shares of the basic materials company's stock after acquiring an additional 64,338 shares during the period. Van ECK Associates Corp owned 0.43% of Commercial Metals worth $24,064,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. State Street Corp grew its stake in Commercial Metals by 0.4% during the third quarter. State Street Corp now owns 5,830,412 shares of the basic materials company's stock valued at $320,439,000 after acquiring an additional 24,665 shares in the last quarter. Geode Capital Management LLC grew its stake in Commercial Metals by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company's stock worth $156,093,000 after buying an additional 28,019 shares in the last quarter. Victory Capital Management Inc. grew its stake in Commercial Metals by 1.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,176,959 shares of the basic materials company's stock worth $119,646,000 after buying an additional 41,206 shares in the last quarter. Principal Financial Group Inc. grew its stake in Commercial Metals by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company's stock worth $94,208,000 after buying an additional 17,931 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Commercial Metals by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company's stock worth $80,369,000 after buying an additional 18,262 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Commercial Metals Trading Up 1.3 %

NYSE:CMC traded up $0.69 during midday trading on Tuesday, reaching $53.19. 326,952 shares of the stock traded hands, compared to its average volume of 1,114,996. The company has a fifty day moving average of $50.85 and a 200 day moving average of $53.72. Commercial Metals has a 12 month low of $45.50 and a 12 month high of $64.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The stock has a market capitalization of $6.04 billion, a P/E ratio of 47.95, a PEG ratio of 2.58 and a beta of 1.18.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, meeting analysts' consensus estimates of $0.78. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the business posted $1.49 EPS. The firm's revenue was down 4.7% compared to the same quarter last year. On average, research analysts predict that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were issued a $0.18 dividend. The ex-dividend date was Thursday, January 16th. This represents a $0.72 annualized dividend and a yield of 1.35%. Commercial Metals's dividend payout ratio (DPR) is presently 64.86%.

Wall Street Analyst Weigh In

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

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.