Royce & Associates LP Grows Position in Commercial Metals (NYSE:CMC)

Royce & Associates LP increased its position in shares of Commercial Metals (NYSE:CMC) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 461,467 shares of the basic materials company’s stock after buying an additional 30,750 shares during the period. Royce & Associates LP owned about 0.41% of Commercial Metals worth $22,889,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC increased its stake in shares of Commercial Metals by 5.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 4,528 shares of the basic materials company’s stock worth $225,000 after buying an additional 229 shares during the period. Truist Financial Corp increased its stake in Commercial Metals by 3.5% in the fourth quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company’s stock valued at $355,000 after purchasing an additional 242 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased 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 valued at $138,000 after purchasing an additional 254 shares during the last quarter. Arizona State Retirement System increased its stake in Commercial Metals by 0.8% in the fourth quarter. Arizona State Retirement System now owns 33,373 shares of the basic materials company’s stock valued at $1,655,000 after purchasing an additional 262 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its stake in Commercial Metals by 60.7% in the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 267 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Price Performance

Shares of NYSE CMC opened at $46.33 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The stock has a fifty day moving average price of $49.03 and a 200 day moving average price of $52.95. Commercial Metals has a 1-year low of $42.62 and a 1-year high of $64.53. The company has a market cap of $5.26 billion, a PE ratio of 41.73, a P/E/G ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the company earned $1.49 earnings per share. The company’s revenue for the quarter was down 4.7% on a year-over-year basis. Sell-side analysts forecast that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, January 16th. Commercial Metals’s dividend payout ratio (DPR) is currently 64.86%.

Wall Street Analyst Weigh In

Several equities analysts have commented on CMC shares. UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and dropped their price target for the company from $56.00 to $54.00 in a research note on Friday, January 10th. Jefferies Financial Group lowered their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley lowered their target price on shares of 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. BMO Capital Markets lowered their target price on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research report on Friday, January 3rd. Finally, BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. 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, Commercial Metals presently has a consensus rating of “Hold” and a consensus price target of $61.83.

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.