Commercial Metals Company $CMC Shares Sold by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. cut its stake in shares of Commercial Metals Company (NYSE:CMC) by 32.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 658,710 shares of the basic materials company’s stock after selling 318,675 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.59% of Commercial Metals worth $40,465,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CMC. Global Retirement Partners LLC increased its stake in Commercial Metals by 110.7% in the 4th quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 301 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Commercial Metals during the fourth quarter worth $54,000. Caitong International Asset Management Co. Ltd boosted its position in Commercial Metals by 617.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 832 shares of the basic materials company’s stock worth $58,000 after purchasing an additional 716 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Commercial Metals in the fourth quarter valued at about $59,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Commercial Metals in the third quarter valued at about $73,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CMC. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research note on Wednesday, April 1st. They set a “neutral” rating and a $74.00 price objective for the company. Jefferies Financial Group raised shares of Commercial Metals from a “buy” rating to a “buy” rating in a research note on Friday, June 5th. JPMorgan Chase & Co. lowered their target price on shares of Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. Barclays initiated coverage on Commercial Metals in a report on Thursday, May 21st. They issued an “equal weight” rating and a $75.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised Commercial Metals to a “buy” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.10.

Commercial Metals Trading Up 0.2%

Shares of CMC opened at $72.50 on Monday. Commercial Metals Company has a 12 month low of $47.06 and a 12 month high of $84.87. The stock’s 50-day moving average is $71.44 and its two-hundred day moving average is $71.08. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.38 and a quick ratio of 1.55. The stock has a market cap of $8.04 billion, a PE ratio of 16.15, a P/E/G ratio of 0.41 and a beta of 1.50.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, March 26th. The basic materials company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.10 billion. Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. Commercial Metals’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. Equities analysts forecast that Commercial Metals Company will post 6.58 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, April 6th were issued a $0.20 dividend. This is a boost from Commercial Metals’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, April 6th. Commercial Metals’s dividend payout ratio is currently 17.82%.

About Commercial Metals

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.