Meritage Portfolio Management Grows Position in Commercial Metals (NYSE:CMC)

Meritage Portfolio Management grew its stake in shares of Commercial Metals (NYSE:CMC) by 12.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,299 shares of the basic materials company’s stock after purchasing an additional 1,013 shares during the quarter. Meritage Portfolio Management’s holdings in Commercial Metals were worth $461,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Heck Capital Advisors LLC purchased a new stake in shares of Commercial Metals during the fourth quarter valued at approximately $34,000. nVerses Capital LLC purchased a new stake in shares of Commercial Metals during the third quarter valued at approximately $66,000. GAMMA Investing LLC boosted its stake in shares of Commercial Metals by 56.6% during the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 944 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in shares of Commercial Metals during the fourth quarter valued at approximately $134,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in Commercial Metals by 10.0% in the fourth 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. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Performance

Shares of Commercial Metals stock opened at $50.10 on Friday. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $5.69 billion, a P/E ratio of 45.14, a P/E/G ratio of 2.49 and a beta of 1.18. The business has a fifty day simple moving average of $52.43 and a two-hundred day simple moving average of $54.18. Commercial Metals has a 12 month low of $45.50 and a 12 month high of $64.53.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. The business had revenue of $1.91 billion during 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%. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.49 earnings per share. On average, equities analysts forecast that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $0.72 annualized dividend and a dividend yield of 1.44%. Commercial Metals’s payout ratio is presently 64.86%.

Analysts Set New Price Targets

CMC has been the subject of a number of research analyst reports. Morgan Stanley dropped their price target on Commercial Metals from $65.00 to $56.00 and set an “equal weight” rating for the company in a research note on Monday. The Goldman Sachs Group initiated coverage on Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target for the company. UBS Group raised Commercial Metals from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $56.00 to $54.00 in a research note on Friday, January 10th. Jefferies Financial Group dropped their price target on 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, BMO Capital Markets dropped their price target 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. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company 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.