Commercial Metals Company $CMC Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its holdings in shares of Commercial Metals Company (NYSE:CMC) by 29.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,272 shares of the basic materials company’s stock after purchasing an additional 8,915 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Commercial Metals were worth $2,719,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CMC. Artemis Investment Management LLP purchased a new stake in Commercial Metals during the fourth quarter worth approximately $103,962,000. Merewether Investment Management LP purchased a new stake in Commercial Metals during the third quarter worth approximately $26,847,000. UBS Group AG lifted its stake in Commercial Metals by 41.8% during the third quarter. UBS Group AG now owns 1,521,130 shares of the basic materials company’s stock worth $87,130,000 after purchasing an additional 448,083 shares during the last quarter. Millennium Management LLC lifted its stake in Commercial Metals by 44.2% during the third quarter. Millennium Management LLC now owns 1,013,517 shares of the basic materials company’s stock worth $58,054,000 after purchasing an additional 310,431 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in Commercial Metals by 11,006.1% during the third quarter. Bessemer Group Inc. now owns 260,993 shares of the basic materials company’s stock worth $14,948,000 after purchasing an additional 258,643 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CMC. Wells Fargo & Company decreased their target price on Commercial Metals from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft upgraded Commercial Metals to a “buy” rating in a research note on Friday. Wall Street Zen cut Commercial Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Barclays initiated coverage on Commercial Metals in a research report on Thursday. They issued an “equal weight” rating and a $75.00 price target for the company. Finally, KeyCorp initiated coverage on Commercial Metals in a research report on Wednesday, March 25th. They issued a “sector weight” rating for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Commercial Metals has an average rating of “Moderate Buy” and a consensus target price of $74.82.

Commercial Metals Stock Down 0.0%

CMC opened at $71.87 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.38 and a quick ratio of 1.55. The stock has a market capitalization of $7.97 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 0.42 and a beta of 1.49. The business has a 50-day moving average of $65.93 and a two-hundred day moving average of $68.91. Commercial Metals Company has a 12 month low of $45.50 and a 12 month high of $84.87.

Commercial Metals (NYSE:CMC) last posted 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 during the quarter, compared to analysts’ expectations of $2.10 billion. Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 EPS. On average, research analysts expect that Commercial Metals Company will post 6.51 earnings per share for the current year.

Commercial Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, April 6th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, April 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. This is an increase from Commercial Metals’s previous quarterly dividend of $0.18. Commercial Metals’s dividend payout ratio is presently 16.04%.

Commercial Metals Company 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.