Victory Capital Management Inc. increased its position in Commercial Metals (NYSE:CMC - Free Report) by 11.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,422,427 shares of the basic materials company's stock after purchasing an additional 245,468 shares during the period. Victory Capital Management Inc. owned 2.13% of Commercial Metals worth $120,152,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of CMC. Heck Capital Advisors LLC bought a new stake in shares of Commercial Metals during the fourth quarter valued at approximately $34,000. V Square Quantitative Management LLC grew its position in Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after purchasing an additional 267 shares in the last quarter. Jones Financial Companies Lllp grew its position in Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock worth $82,000 after purchasing an additional 297 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Commercial Metals by 56.6% in the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company's stock valued at $130,000 after purchasing an additional 944 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Commercial Metals in the 4th quarter valued at $134,000. Institutional investors own 86.90% of the company's stock.
Several research analysts have recently issued reports on CMC shares. The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a report on Monday, December 2nd. They set a "buy" rating and a $75.00 price objective on the stock. BMO Capital Markets cut their price objective on shares of Commercial Metals from $62.00 to $58.00 and set a "market perform" rating on the stock in a report on Friday, January 3rd. BNP Paribas downgraded shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research note on Friday, January 3rd. Jefferies Financial Group lowered their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, Morgan Stanley cut their price target on shares of Commercial Metals from $65.00 to $56.00 and set an "equal weight" rating for the company in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $62.33.
Check Out Our Latest Research Report on CMC
Shares of NYSE:CMC traded down $0.80 during midday trading on Thursday, hitting $46.41. The stock had a trading volume of 1,466,389 shares, compared to its average volume of 1,140,539. The company's 50-day moving average price is $49.67 and its 200-day moving average price is $53.38. The company has a market capitalization of $5.27 billion, a P/E ratio of 41.81, a price-to-earnings-growth ratio of 2.62 and a beta of 1.18. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. Commercial Metals has a fifty-two week low of $43.81 and a fifty-two week high of $64.53.
Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.78. The business had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.85 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm's quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.49 EPS. As a group, equities research analysts predict that Commercial Metals will post 3.09 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Thursday, January 16th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Thursday, January 16th. Commercial Metals's dividend payout ratio is 64.86%.
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.
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