5,765 Shares in Commercial Metals (NYSE:CMC) Acquired by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC acquired a new position in Commercial Metals (NYSE:CMC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,765 shares of the basic materials company’s stock, valued at approximately $286,000.

Several other hedge funds also recently added to or reduced their stakes in CMC. Jacobs Levy Equity Management Inc. grew its position in Commercial Metals by 122.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company’s stock worth $68,455,000 after acquiring an additional 686,519 shares during the period. Thompson Siegel & Walmsley LLC boosted its position in shares of Commercial Metals by 58.0% during the third quarter. Thompson Siegel & Walmsley LLC now owns 1,440,531 shares of the basic materials company’s stock worth $79,172,000 after buying an additional 528,876 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Commercial Metals during the third quarter worth $16,731,000. Victory Capital Management Inc. boosted its position in shares of Commercial Metals by 11.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company’s stock worth $120,152,000 after buying an additional 245,468 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Commercial Metals during the fourth quarter worth $11,052,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Trading Up 0.3 %

NYSE:CMC opened at $46.30 on Wednesday. The firm has a market cap of $5.26 billion, a PE ratio of 41.71, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The stock has a fifty day moving average price of $48.89 and a 200 day moving average price of $52.85. Commercial Metals has a 12-month low of $42.62 and a 12-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.

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

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Thursday, January 16th. Commercial Metals’s dividend payout ratio is presently 64.86%.

Analyst Ratings Changes

Several research analysts have recently commented on CMC shares. The Goldman Sachs Group started coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price target for the company. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Morgan Stanley lowered their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $56.00 to $54.00 in a research report on Friday, January 10th. Finally, Jefferies Financial Group decreased their target price on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $61.83.

About Commercial Metals

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.