Coldstream Capital Management Inc. Lowers Stock Holdings in Commercial Metals (NYSE:CMC)

Coldstream Capital Management Inc. lessened its stake in shares of Commercial Metals (NYSE:CMC) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,761 shares of the basic materials company’s stock after selling 331 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Commercial Metals were worth $236,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CMC. JPMorgan Chase & Co. raised its position in Commercial Metals by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,081,153 shares of the basic materials company’s stock worth $59,420,000 after buying an additional 66,092 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Commercial Metals by 1.1% during the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after purchasing an additional 17,931 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Commercial Metals by 66.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 71,151 shares of the basic materials company’s stock valued at $3,529,000 after purchasing an additional 28,297 shares during the period. Covea Finance boosted its holdings in Commercial Metals by 44.2% in the 4th quarter. Covea Finance now owns 62,000 shares of the basic materials company’s stock valued at $3,075,000 after purchasing an additional 19,000 shares in the last quarter. Finally, Spring Capital Management LLC acquired a new position in Commercial Metals during the 4th quarter worth approximately $248,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Commercial Metals

In other news, Director John R. Mcpherson bought 2,475 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the transaction, the director now owns 15,141 shares in the company, valued at $611,999.22. The trade was a 19.54 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

CMC has been the subject of several recent analyst reports. Morgan Stanley reduced their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. UBS Group lowered their price target on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Jefferies Financial Group decreased their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, BMO Capital Markets dropped their target price on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a report on Friday, March 21st. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Commercial Metals currently has an average rating of “Hold” and an average price target of $60.33.

Commercial Metals Stock Performance

NYSE:CMC opened at $46.49 on Friday. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $5.25 billion, a P/E ratio of 41.88, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. The firm has a 50-day moving average price of $44.83 and a two-hundred day moving average price of $50.85. Commercial Metals has a twelve month low of $37.92 and a twelve month high of $64.53.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data 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 business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the business earned $0.88 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, research analysts expect that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were given a $0.18 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.55%. Commercial Metals’s dividend payout ratio is currently 120.00%.

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.