IFP Advisors Inc Lowers Holdings in Commercial Metals Company $CMC

IFP Advisors Inc decreased its holdings in Commercial Metals Company (NYSE:CMC) by 49.4% in the 4th quarter, HoldingsChannel reports. The firm owned 23,095 shares of the basic materials company’s stock after selling 22,507 shares during the quarter. IFP Advisors Inc’s holdings in Commercial Metals were worth $1,599,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Commercial Metals by 430.9% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 29,247 shares of the basic materials company’s stock valued at $1,675,000 after purchasing an additional 23,738 shares during the period. Merit Financial Group LLC purchased a new position in shares of Commercial Metals in the third quarter valued at approximately $821,000. American Century Companies Inc. boosted its stake in shares of Commercial Metals by 6.6% in the third quarter. American Century Companies Inc. now owns 1,823,923 shares of the basic materials company’s stock valued at $104,474,000 after purchasing an additional 112,267 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Commercial Metals by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 884,604 shares of the basic materials company’s stock valued at $50,670,000 after purchasing an additional 64,491 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in Commercial Metals by 14.1% in the third quarter. Russell Investments Group Ltd. now owns 459,657 shares of the basic materials company’s stock worth $26,329,000 after acquiring an additional 56,705 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CMC. Zacks Research downgraded shares of Commercial Metals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. KeyCorp began coverage on shares of Commercial Metals in a research note on Wednesday, March 25th. They issued a “sector weight” rating for the company. The Goldman Sachs Group began coverage on shares of Commercial Metals in a research note on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded shares of Commercial Metals to a “buy” rating in a research note on Friday. Finally, UBS Group upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $79.00 to $89.00 in a research note on Wednesday, May 13th. One equities research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $74.82.

Commercial Metals Stock Up 1.7%

CMC stock opened at $71.87 on Friday. The stock has a market cap of $7.97 billion, a P/E ratio of 16.01, a PEG ratio of 0.41 and a beta of 1.49. The company has a current ratio of 2.38, a quick ratio of 1.55 and a debt-to-equity ratio of 0.75. Commercial Metals Company has a twelve month low of $45.50 and a twelve month high of $84.87. The company’s 50 day moving average is $65.93 and its two-hundred day moving average is $68.84.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, March 26th. The basic materials company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.12). The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. Research analysts expect that Commercial Metals Company will post 6.51 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

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

About Commercial Metals

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.