Commercial Metals Company $CMC Stock Position Lowered by Savant Capital LLC

Savant Capital LLC lessened its position in Commercial Metals Company (NYSE:CMC) by 74.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,494 shares of the basic materials company’s stock after selling 24,874 shares during the quarter. Savant Capital LLC’s holdings in Commercial Metals were worth $588,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CMC. Rothschild Investment LLC lifted its position in shares of Commercial Metals by 169.6% in the 3rd quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 324 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Commercial Metals by 110.7% in the 4th quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 301 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Commercial Metals in the 4th quarter valued at approximately $54,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Commercial Metals in the 3rd quarter valued at approximately $73,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Commercial Metals by 84.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,550 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 708 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CMC. Wells Fargo & Company reduced their price target on shares of Commercial Metals from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Friday, March 27th. KeyCorp began coverage on shares of Commercial Metals in a research report on Wednesday, March 25th. They issued a “sector weight” rating for the company. Wall Street Zen downgraded shares of Commercial Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Commercial Metals to a “buy” rating in a research report on Friday, May 22nd. Finally, UBS Group upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and increased their target price for the stock from $79.00 to $89.00 in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.10.

Commercial Metals Stock Performance

Shares of CMC opened at $76.72 on Thursday. The company’s fifty day moving average is $68.19 and its 200-day moving average is $69.86. Commercial Metals Company has a 12 month low of $47.06 and a 12 month high of $84.87. The firm has a market cap of $8.51 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 0.46 and a beta of 1.50. The company has a quick ratio of 1.55, a current ratio of 2.38 and a debt-to-equity ratio of 0.75.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, March 26th. The basic materials company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.12). The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.10 billion. Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 EPS. Equities analysts expect that Commercial Metals Company will post 6.45 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. This is a boost from Commercial Metals’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, April 6th. Commercial Metals’s dividend payout ratio (DPR) is presently 16.04%.

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.