Commercial Metals (NYSE:CMC) Shares Bought by Vest Financial LLC

Vest Financial LLC increased its holdings in shares of Commercial Metals (NYSE:CMC - Free Report) by 72.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,531 shares of the basic materials company's stock after purchasing an additional 20,411 shares during the quarter. Vest Financial LLC's holdings in Commercial Metals were worth $2,407,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Strategic Financial Concepts LLC acquired a new position in Commercial Metals during the 4th quarter worth about $984,000. Meritage Portfolio Management lifted its position in shares of Commercial Metals by 12.2% during the fourth quarter. Meritage Portfolio Management now owns 9,299 shares of the basic materials company's stock worth $461,000 after purchasing an additional 1,013 shares in the last quarter. Tectonic Advisors LLC boosted its stake in shares of Commercial Metals by 4.9% in the fourth quarter. Tectonic Advisors LLC now owns 18,637 shares of the basic materials company's stock valued at $924,000 after purchasing an additional 863 shares during the period. First Dallas Securities Inc. grew its holdings in shares of Commercial Metals by 41.5% in the fourth quarter. First Dallas Securities Inc. now owns 30,079 shares of the basic materials company's stock valued at $1,492,000 after purchasing an additional 8,828 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its stake in Commercial Metals by 24.2% during the 4th quarter. Hodges Capital Management Inc. now owns 290,942 shares of the basic materials company's stock worth $14,431,000 after buying an additional 56,666 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Ratings Changes

CMC has been the subject of several recent research reports. Jefferies Financial Group decreased 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. BMO Capital Markets lowered their target price on Commercial Metals from $62.00 to $58.00 and set a "market perform" rating for the company in a research note on Friday, January 3rd. The Goldman Sachs Group assumed coverage on Commercial Metals in a report on Monday, December 2nd. They set a "buy" rating and a $75.00 price target on the stock. UBS Group upgraded Commercial Metals from a "sell" rating to a "neutral" rating and decreased their price objective for the company from $56.00 to $54.00 in a research note on Friday, January 10th. Finally, Morgan Stanley cut their target price on shares of Commercial Metals from $65.00 to $56.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Commercial Metals currently has a consensus rating of "Hold" and a consensus target price of $62.33.

Commercial Metals Stock Up 0.5 %

Shares of CMC traded up $0.24 during mid-day trading on Wednesday, reaching $50.07. The company's stock had a trading volume of 1,243,721 shares, compared to its average volume of 1,152,497. 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 12-month low of $45.50 and a 12-month high of $64.53. The stock has a market cap of $5.69 billion, a PE ratio of 45.11, a price-to-earnings-growth ratio of 2.58 and a beta of 1.18. The company's 50 day moving average is $51.43 and its 200 day moving average is $53.91.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the firm posted $1.49 earnings per share. The firm's revenue was down 4.7% on a year-over-year basis. Equities analysts anticipate that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Thursday, January 16th were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, January 16th. This represents a $0.72 annualized dividend and a yield of 1.44%. Commercial Metals's dividend payout ratio is currently 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.