Royce & Associates LP Sells 41,860 Shares of Commercial Metals Company $CMC

Royce & Associates LP lowered its stake in shares of Commercial Metals Company (NYSE:CMC) by 8.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 449,932 shares of the basic materials company’s stock after selling 41,860 shares during the quarter. Royce & Associates LP owned 0.41% of Commercial Metals worth $31,144,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC increased its position in shares of Commercial Metals by 3.1% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,904 shares of the basic materials company’s stock valued at $339,000 after purchasing an additional 149 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Commercial Metals by 2.9% during the 3rd quarter. Quadrant Capital Group LLC now owns 6,626 shares of the basic materials company’s stock valued at $380,000 after purchasing an additional 188 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Commercial Metals by 4.4% during the 2nd quarter. Captrust Financial Advisors now owns 4,813 shares of the basic materials company’s stock valued at $235,000 after purchasing an additional 202 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Commercial Metals by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,543 shares of the basic materials company’s stock valued at $1,383,000 after purchasing an additional 206 shares during the last quarter. Finally, Flagship Harbor Advisors LLC increased its position in shares of Commercial Metals by 4.7% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 4,775 shares of the basic materials company’s stock valued at $274,000 after purchasing an additional 213 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CMC shares. The Goldman Sachs Group started coverage on Commercial Metals in a research report on Wednesday, April 1st. They set a “neutral” rating and a $74.00 target price on the stock. Zacks Research downgraded Commercial Metals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft raised Commercial Metals to a “buy” rating in a research report on Friday. Barclays assumed coverage on Commercial Metals in a report on Thursday. They set an “equal weight” rating and a $75.00 price objective for the company. Finally, Wall Street Zen cut Commercial Metals from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Commercial Metals currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.82.

Commercial Metals Price Performance

CMC opened at $71.87 on Tuesday. The business has a fifty day moving average of $66.13 and a 200 day moving average of $69.02. Commercial Metals Company has a 52-week low of $45.50 and a 52-week high of $84.87. The company has a quick ratio of 1.55, a current ratio of 2.38 and a debt-to-equity ratio of 0.75. The stock has a market cap of $7.97 billion, a P/E ratio of 16.01, a PEG ratio of 0.42 and a beta of 1.49.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, March 26th. The basic materials company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.12). Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same quarter in the prior year, the company posted $0.26 earnings per share. Commercial Metals’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Commercial Metals Company will post 6.51 EPS for the current year.

Commercial Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were issued a $0.20 dividend. The ex-dividend date was Monday, April 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.18. Commercial Metals’s dividend payout ratio (DPR) is currently 16.04%.

Commercial Metals Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.