Intech Investment Management LLC Acquires 15,458 Shares of Commercial Metals (NYSE:CMC)

Intech Investment Management LLC grew its position in shares of Commercial Metals (NYSE:CMC) by 42.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 51,850 shares of the basic materials company’s stock after acquiring an additional 15,458 shares during the period. Intech Investment Management LLC’s holdings in Commercial Metals were worth $2,572,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CMC. Atria Investments Inc purchased a new stake in shares of Commercial Metals in the 3rd quarter worth approximately $290,000. KBC Group NV lifted its holdings in shares of Commercial Metals by 15.9% during the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock valued at $170,000 after buying an additional 425 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Commercial Metals in the 3rd quarter worth $1,008,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Commercial Metals in the 3rd quarter worth $5,662,000. Finally, Moran Wealth Management LLC increased its stake in Commercial Metals by 336.7% in the 3rd quarter. Moran Wealth Management LLC now owns 60,372 shares of the basic materials company’s stock worth $3,318,000 after buying an additional 46,547 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CMC shares. Morgan Stanley dropped their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. UBS Group upgraded 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 report 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 report on Monday, January 6th. The Goldman Sachs Group initiated 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. Finally, BMO Capital Markets decreased their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $61.83.

Commercial Metals Stock Performance

Commercial Metals stock opened at $46.82 on Thursday. The company has a 50 day moving average price of $48.88 and a 200-day moving average price of $52.81. 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 has a fifty-two week low of $42.62 and a fifty-two week high of $64.53. The company has a market capitalization of $5.32 billion, a PE ratio of 42.18, a P/E/G ratio of 2.62 and a beta of 1.17.

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

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.54%. Commercial Metals’s dividend payout ratio is currently 64.86%.

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.