Commonwealth Equity Services LLC Sells 579 Shares of Commercial Metals (NYSE:CMC)

Commonwealth Equity Services LLC lessened its stake in shares of Commercial Metals (NYSE:CMC – Get Rating) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,436 shares of the basic materials company’s stock after selling 579 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Commercial Metals were worth $890,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CMC. Natixis Advisors L.P. grew its position in Commercial Metals by 12.5% during the 1st quarter. Natixis Advisors L.P. now owns 12,638 shares of the basic materials company’s stock worth $526,000 after acquiring an additional 1,402 shares during the last quarter. Bank of Montreal Can grew its position in Commercial Metals by 14.9% during the 1st quarter. Bank of Montreal Can now owns 13,282 shares of the basic materials company’s stock worth $547,000 after acquiring an additional 1,727 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Commercial Metals by 11.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 44,522 shares of the basic materials company’s stock worth $1,853,000 after acquiring an additional 4,540 shares during the last quarter. APG Asset Management N.V. bought a new stake in Commercial Metals during the 1st quarter worth $2,188,000. Finally, Great West Life Assurance Co. Can grew its position in Commercial Metals by 9.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 69,545 shares of the basic materials company’s stock worth $2,980,000 after acquiring an additional 6,259 shares during the last quarter. Institutional investors and hedge funds own 84.30% of the company’s stock.

Commercial Metals Stock Performance

Shares of CMC opened at $45.42 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.00 and a current ratio of 3.07. The stock has a 50 day moving average price of $46.04 and a two-hundred day moving average price of $49.33. The firm has a market capitalization of $5.32 billion, a P/E ratio of 5.25 and a beta of 1.26. Commercial Metals has a 52 week low of $31.47 and a 52 week high of $58.09.

Commercial Metals (NYSE:CMC – Get Rating) last released its earnings results on Thursday, March 23rd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.09). Commercial Metals had a net margin of 11.37% and a return on equity of 30.52%. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the company earned $1.53 earnings per share. The business’s revenue was up .5% on a year-over-year basis. Equities analysts forecast that Commercial Metals will post 7.77 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 12th. Shareholders of record on Monday, April 3rd were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, March 31st. This represents a $0.64 annualized dividend and a dividend yield of 1.41%. Commercial Metals’s dividend payout ratio is currently 7.40%.

Analysts Set New Price Targets

CMC has been the topic of several recent research reports. StockNews.com initiated coverage on Commercial Metals in a report on Thursday, May 18th. They set a “hold” rating on the stock. Citigroup lifted their target price on Commercial Metals from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, February 15th. Finally, Bank of America raised Commercial Metals from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $56.00 to $60.00 in a research note on Wednesday, April 5th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $53.57.

Commercial Metals Company Profile

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Commercial Metals Co engages in the manufacture, recycling, and marketing of steel and metal products. It operates through the following segments: North America and Europe. The North America segment is a vertically integrated network of recycling facilities, steel mills and fabrication operations. The Europe segment is a vertically integrated network of recycling facilities, an EAF mini mill and fabrication operations located in Poland.