Hoey Investments Inc. Has $1.24 Million Stock Position in Commercial Metals (NYSE:CMC)

Hoey Investments Inc. boosted its holdings in shares of Commercial Metals (NYSE:CMC) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,896 shares of the basic materials company’s stock after acquiring an additional 2,119 shares during the period. Commercial Metals makes up approximately 0.2% of Hoey Investments Inc.’s investment portfolio, making the stock its 23rd largest holding. Hoey Investments Inc.’s holdings in Commercial Metals were worth $1,235,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Heck Capital Advisors LLC bought a new stake in shares of Commercial Metals during the fourth quarter worth $34,000. V Square Quantitative Management LLC boosted its holdings in shares of Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after buying an additional 267 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Commercial Metals by 22.0% during the fourth 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 during the last quarter. New Age Alpha Advisors LLC bought a new stake in Commercial Metals during the fourth quarter worth $105,000. Finally, Amundi lifted its stake in Commercial Metals by 29.9% in the fourth quarter. Amundi now owns 2,189 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 504 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CMC shares. UBS Group dropped their target price on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Morgan Stanley reduced their target price on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. 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 on the stock. Finally, Jefferies Financial Group reduced their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.33.

Commercial Metals Trading Down 4.6 %

CMC opened at $46.15 on Monday. The company’s 50 day moving average is $48.67 and its 200-day moving average is $52.71. The company has a market cap of $5.24 billion, a P/E ratio of 41.58, a PEG ratio of 2.62 and a beta of 1.17. Commercial Metals has a 1-year low of $42.62 and a 1-year high of $64.53. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the previous year, the firm posted $0.88 EPS. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. Equities research analysts predict that Commercial Metals will post 3.09 earnings per share 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. Shareholders of record on Monday, March 31st will be given a $0.18 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 1.56%. Commercial Metals’s dividend payout ratio is presently 120.00%.

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.