10,662 Shares in Commercial Metals (NYSE:CMC) Acquired by Cibc World Markets Corp

Cibc World Markets Corp bought a new position in shares of Commercial Metals (NYSE:CMC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,662 shares of the basic materials company’s stock, valued at approximately $529,000.

Other hedge funds have also recently bought and sold shares of the company. Atria Investments Inc purchased a new position in Commercial Metals during the third quarter worth approximately $290,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Commercial Metals in the 3rd quarter valued at $1,008,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Commercial Metals in the 3rd quarter valued at $5,662,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Commercial Metals by 11.2% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 244,376 shares of the basic materials company’s stock valued at $13,431,000 after acquiring an additional 24,606 shares during the period. Finally, Intech Investment Management LLC raised its stake in shares of Commercial Metals by 87.8% in the 3rd quarter. Intech Investment Management LLC now owns 36,392 shares of the basic materials company’s stock valued at $2,000,000 after acquiring an additional 17,010 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CMC. The Goldman Sachs Group began coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price on the stock. BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Jefferies Financial Group decreased their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. UBS Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $56.00 to $54.00 in a report on Friday, January 10th. Finally, Morgan Stanley decreased their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $61.17.

Commercial Metals Trading Down 1.5 %

NYSE CMC opened at $46.67 on Friday. Commercial Metals has a one year low of $42.62 and a one year high of $64.53. The company has a 50-day simple moving average of $48.86 and a 200-day simple moving average of $52.74. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The firm has a market capitalization of $5.30 billion, a PE ratio of 42.04, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm posted $0.88 earnings per share. The company’s quarterly revenue was down 5.1% on a year-over-year basis. On average, equities analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Monday, March 31st will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 1.54%. Commercial Metals’s dividend payout ratio is presently 120.00%.

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.