Empowered Funds LLC Boosts Holdings in Commercial Metals (NYSE:CMC)

Empowered Funds LLC increased its holdings in Commercial Metals (NYSE:CMC) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,364 shares of the basic materials company’s stock after purchasing an additional 1,304 shares during the period. Empowered Funds LLC’s holdings in Commercial Metals were worth $2,597,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Vest Financial LLC increased its stake in Commercial Metals by 72.6% in the 4th quarter. Vest Financial LLC now owns 48,531 shares of the basic materials company’s stock worth $2,407,000 after acquiring an additional 20,411 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in Commercial Metals in the 4th quarter worth approximately $984,000. Meritage Portfolio Management increased its stake in Commercial Metals by 12.2% in the 4th quarter. Meritage Portfolio Management now owns 9,299 shares of the basic materials company’s stock worth $461,000 after acquiring an additional 1,013 shares during the last quarter. Tectonic Advisors LLC increased its stake in Commercial Metals by 4.9% in the 4th quarter. Tectonic Advisors LLC now owns 18,637 shares of the basic materials company’s stock worth $924,000 after acquiring an additional 863 shares during the last quarter. Finally, First Dallas Securities Inc. increased its stake in Commercial Metals by 41.5% in the 4th quarter. First Dallas Securities Inc. now owns 30,079 shares of the basic materials company’s stock worth $1,492,000 after acquiring an additional 8,828 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Stock Up 3.0 %

NYSE:CMC opened at $51.55 on Friday. The company has a market cap of $5.86 billion, a price-to-earnings ratio of 46.44, a price-to-earnings-growth ratio of 2.58 and a beta of 1.18. Commercial Metals has a twelve month low of $45.50 and a twelve month high of $64.53. 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 stock has a fifty day simple moving average of $51.23 and a 200-day simple moving average of $53.90.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.85 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the business posted $1.49 EPS. Analysts anticipate that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.40%. Commercial Metals’s dividend payout ratio is currently 64.86%.

Wall Street Analyst Weigh In

CMC has been the topic of a number of research reports. Morgan Stanley reduced their price objective on Commercial Metals from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Jefferies Financial Group cut their target price on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets cut their target price on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research report on Friday, January 3rd. BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group assumed coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Commercial Metals has a consensus rating of “Hold” and an average target price of $62.33.

Commercial Metals Company Profile

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.