Coldstream Capital Management Inc. Boosts Holdings in Commercial Metals (NYSE:CMC)

Coldstream Capital Management Inc. raised its stake in shares of Commercial Metals (NYSE:CMC) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,092 shares of the basic materials company’s stock after buying an additional 415 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Commercial Metals were worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CMC. State Street Corp increased its holdings in shares of Commercial Metals by 0.4% in the 3rd quarter. State Street Corp now owns 5,830,412 shares of the basic materials company’s stock worth $320,439,000 after buying an additional 24,665 shares during the last quarter. Geode Capital Management LLC grew its position in Commercial Metals by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock worth $156,093,000 after acquiring an additional 28,019 shares in the last quarter. Victory Capital Management Inc. increased its stake in Commercial Metals by 1.9% during the third quarter. Victory Capital Management Inc. now owns 2,176,959 shares of the basic materials company’s stock worth $119,646,000 after acquiring an additional 41,206 shares during the last quarter. Principal Financial Group Inc. raised its position in Commercial Metals by 1.1% during the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock valued at $94,208,000 after purchasing an additional 17,931 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Commercial Metals by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock worth $80,369,000 after purchasing an additional 18,262 shares during the period. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CMC shares. Wolfe Research lowered Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. The Goldman Sachs Group initiated 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. Jefferies Financial Group began coverage on shares of Commercial Metals in a research note on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price target for the company. UBS Group reissued a “sell” rating and issued a $56.00 price objective (down from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. Finally, BMO Capital Markets set a $62.00 target price on Commercial Metals and gave the company a “market perform” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $65.40.

Commercial Metals Trading Down 1.6 %

Shares of CMC opened at $56.28 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 2.74 and a beta of 1.15. The company has a 50-day moving average of $57.97 and a 200 day moving average of $55.23. Commercial Metals has a 1-year low of $47.42 and a 1-year high of $64.53.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.01). The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. On average, research analysts expect that Commercial Metals will post 4.26 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, October 31st. Commercial Metals’s dividend payout ratio (DPR) is presently 17.39%.

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.