Commercial Metals (NYSE:CMC) Shares Bought by Versor Investments LP

Versor Investments LP grew its stake in shares of Commercial Metals (NYSE:CMC) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,054 shares of the basic materials company’s stock after acquiring an additional 600 shares during the period. Versor Investments LP’s holdings in Commercial Metals were worth $697,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Commercial Metals by 122.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company’s stock valued at $68,455,000 after buying an additional 686,519 shares during the period. Thompson Siegel & Walmsley LLC boosted its holdings in shares of Commercial Metals by 58.0% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,440,531 shares of the basic materials company’s stock valued at $79,172,000 after buying an additional 528,876 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Commercial Metals in the 3rd quarter valued at about $16,731,000. Van ECK Associates Corp boosted its holdings in shares of Commercial Metals by 204.3% in the 3rd quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company’s stock valued at $21,570,000 after buying an additional 282,511 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Commercial Metals by 18.8% in the 3rd quarter. Wellington Management Group LLP now owns 714,808 shares of the basic materials company’s stock valued at $39,286,000 after buying an additional 113,156 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price objective on the stock. BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. 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 research report on Friday, January 3rd. UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and cut their price objective for the company from $56.00 to $54.00 in a research report on Friday, January 10th. Finally, Jefferies Financial Group cut their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $62.33.

Commercial Metals Stock Down 1.3 %

CMC stock opened at $48.40 on Friday. The firm’s 50-day moving average is $49.89 and its two-hundred day moving average is $53.54. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 43.60, a price-to-earnings-growth ratio of 2.62 and a beta of 1.18. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. Commercial Metals has a 52 week low of $45.50 and a 52 week high of $64.53.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. The company had revenue of $1.91 billion for 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 business’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 EPS. On average, analysts forecast that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders 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 annualized dividend and a dividend yield of 1.49%. Commercial Metals’s dividend payout ratio is currently 64.86%.

Commercial Metals 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.