Commercial Metals (NYSE:CMC) Shares Bought by William Blair Investment Management LLC

William Blair Investment Management LLC grew its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 2.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 685,155 shares of the basic materials company's stock after acquiring an additional 16,828 shares during the period. William Blair Investment Management LLC owned about 0.60% of Commercial Metals worth $33,984,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in Commercial Metals during the 4th quarter worth $34,000. V Square Quantitative Management LLC grew its position in shares of Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after buying an additional 267 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock worth $82,000 after buying an additional 297 shares in the last quarter. Amundi increased its stake in shares of 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 holdings in shares of Commercial Metals by 56.6% in the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company's stock valued at $130,000 after acquiring an additional 944 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of research analysts have commented on CMC shares. BNP Paribas downgraded shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research report on Friday, January 3rd. The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a report on Monday, December 2nd. They set a "buy" rating and a $75.00 price objective on the stock. Jefferies Financial Group lowered their target price on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a report on Monday, January 6th. Morgan Stanley dropped their target price 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. Finally, UBS Group raised 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. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $61.17.

Commercial Metals Stock Down 1.5 %

CMC stock traded down $0.69 on Friday, hitting $46.67. 4,747,041 shares of the company's stock were exchanged, compared to its average volume of 866,372. The firm has a 50 day moving average price of $48.86 and a two-hundred day moving average price of $52.72. Commercial Metals has a 12-month low of $42.62 and a 12-month high of $64.53. The stock has a market cap of $5.30 billion, a P/E ratio of 42.04, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly 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). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business posted $0.88 EPS. Commercial Metals's revenue was down 5.1% compared to the same quarter last year. As a group, equities research analysts expect that Commercial Metals will post 3.09 EPS for the current fiscal 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 1.54%. The ex-dividend date is Monday, March 31st. Commercial Metals's payout ratio is 120.00%.

About Commercial Metals

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.