Commercial Metals (NYSE:CMC) Position Reduced by LSV Asset Management

LSV Asset Management reduced its position in Commercial Metals (NYSE:CMC) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 256,200 shares of the basic materials company’s stock after selling 5,100 shares during the period. LSV Asset Management owned about 0.22% of Commercial Metals worth $12,820,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. HM Payson & Co. purchased a new position in shares of Commercial Metals during the third quarter valued at $25,000. Daiwa Securities Group Inc. acquired a new position in shares of Commercial Metals in the 4th quarter valued at about $30,000. Headlands Technologies LLC purchased a new stake in shares of Commercial Metals in the third quarter worth approximately $51,000. GAMMA Investing LLC purchased a new position in Commercial Metals during the fourth quarter valued at approximately $74,000. Finally, Planned Solutions Inc. acquired a new position in Commercial Metals in the 4th quarter valued at approximately $73,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Barbara Smith sold 35,704 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total value of $2,066,547.52. Following the sale, the chairman now directly owns 36,196 shares of the company’s stock, valued at $2,095,024.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Commercial Metals Stock Up 0.9 %

CMC stock opened at $56.27 on Wednesday. The company has a current ratio of 4.19, a quick ratio of 2.69 and a debt-to-equity ratio of 0.27. The firm has a market cap of $6.51 billion, a PE ratio of 9.77 and a beta of 1.35. Commercial Metals has a 1 year low of $39.85 and a 1 year high of $59.81. The company has a fifty day simple moving average of $55.53 and a 200 day simple moving average of $50.99.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.05). Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the business posted $1.44 earnings per share. The firm’s revenue was down 8.4% on a year-over-year basis. Sell-side analysts anticipate that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, April 1st were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 1.28%. Commercial Metals’s dividend payout ratio (DPR) is presently 12.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. BMO Capital Markets boosted their price target on shares of Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. StockNews.com lowered Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Finally, UBS Group assumed coverage on Commercial Metals in a report on Tuesday, January 16th. They set a “buy” rating and a $65.00 price target for the company.

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.