LSV Asset Management Decreases Stake in Commercial Metals Company $CMC

LSV Asset Management decreased its holdings in Commercial Metals Company (NYSE:CMC) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 265,700 shares of the basic materials company’s stock after selling 12,500 shares during the quarter. LSV Asset Management owned about 0.24% of Commercial Metals worth $15,219,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in CMC. Norges Bank purchased a new position in shares of Commercial Metals in the 2nd quarter valued at about $70,402,000. Vaughan Nelson Investment Management L.P. acquired a new position in Commercial Metals during the third quarter worth about $54,394,000. Encompass Capital Advisors LLC purchased a new position in Commercial Metals in the second quarter valued at about $34,225,000. Thomist Capital Management LP purchased a new position in Commercial Metals in the second quarter valued at about $14,950,000. Finally, Franklin Resources Inc. lifted its position in shares of Commercial Metals by 10.0% during the 2nd quarter. Franklin Resources Inc. now owns 3,193,930 shares of the basic materials company’s stock valued at $156,215,000 after acquiring an additional 290,256 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMC has been the subject of several research analyst reports. Wall Street Zen raised Commercial Metals from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 28th. Wells Fargo & Company raised their price target on Commercial Metals from $68.00 to $79.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. The Goldman Sachs Group reiterated a “buy” rating and issued a $84.00 price objective on shares of Commercial Metals in a research report on Tuesday, December 30th. Citigroup raised their target price on shares of Commercial Metals from $65.00 to $85.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, Zacks Research cut shares of Commercial Metals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $72.70.

Insider Activity at Commercial Metals

In other Commercial Metals news, Director Dennis V. Arriola purchased 2,000 shares of Commercial Metals stock in a transaction on Tuesday, January 20th. The shares were bought at an average price of $74.69 per share, with a total value of $149,380.00. Following the purchase, the director directly owned 9,238 shares in the company, valued at $689,986.22. This trade represents a 27.63% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer J. Durbin sold 25,050 shares of Commercial Metals stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $79.97, for a total value of $2,003,248.50. Following the completion of the sale, the insider directly owned 52,880 shares of the company’s stock, valued at approximately $4,228,813.60. This represents a 32.14% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.62% of the stock is currently owned by insiders.

Commercial Metals Stock Down 0.2%

CMC opened at $79.61 on Friday. The firm has a market cap of $8.83 billion, a P/E ratio of 20.52, a PEG ratio of 0.43 and a beta of 1.49. The business’s fifty day simple moving average is $74.35 and its 200 day simple moving average is $63.97. Commercial Metals Company has a 52 week low of $37.92 and a 52 week high of $84.87. The company has a quick ratio of 3.70, a current ratio of 4.47 and a debt-to-equity ratio of 0.77.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, January 8th. The basic materials company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.29. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2.06 billion. Commercial Metals had a net margin of 5.46% and a return on equity of 11.43%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 EPS. As a group, equities research analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 19th were given a dividend of $0.18 per share. The ex-dividend date was Friday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Commercial Metals’s dividend payout ratio (DPR) is 18.56%.

Commercial Metals Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.