Los Angeles Capital Management LLC Has $897,000 Position in Commercial Metals (NYSE:CMC)

Los Angeles Capital Management LLC decreased its position in shares of Commercial Metals (NYSE:CMC) by 70.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 17,933 shares of the basic materials company’s stock after selling 43,392 shares during the period. Los Angeles Capital Management LLC’s holdings in Commercial Metals were worth $897,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in Commercial Metals by 241.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,809,841 shares of the basic materials company’s stock worth $90,564,000 after acquiring an additional 1,279,617 shares in the last quarter. Cannell & Co. acquired a new stake in Commercial Metals in the fourth quarter valued at approximately $370,000. Van ECK Associates Corp grew its stake in shares of Commercial Metals by 20.2% during the fourth quarter. Van ECK Associates Corp now owns 166,423 shares of the basic materials company’s stock worth $8,328,000 after buying an additional 27,919 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Commercial Metals by 1.8% during the fourth quarter. SummerHaven Investment Management LLC now owns 13,154 shares of the basic materials company’s stock worth $658,000 after buying an additional 228 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its stake in shares of Commercial Metals by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 146,417 shares of the basic materials company’s stock valued at $7,327,000 after acquiring an additional 598 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. BMO Capital Markets boosted their price target on Commercial Metals from $52.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. StockNews.com cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Finally, UBS Group started coverage on Commercial Metals in a research report on Tuesday, January 16th. They set a “buy” rating and a $65.00 target price for the company.

Insider Transactions at Commercial Metals

In other Commercial Metals news, Chairman Barbara Smith sold 35,704 shares of Commercial Metals stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total transaction of $2,066,547.52. Following the completion of the transaction, the chairman now owns 36,196 shares in the company, valued at approximately $2,095,024.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by insiders.

Commercial Metals Trading Up 2.4 %

NYSE:CMC opened at $57.55 on Friday. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $59.81. The firm’s fifty day moving average is $55.64 and its 200-day moving average is $51.07. The firm has a market cap of $6.66 billion, a P/E ratio of 9.99 and a beta of 1.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.69 and a current ratio of 4.19.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.05). The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. Equities analysts expect that Commercial Metals will post 5.34 earnings per share for the current year.

Commercial Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, April 1st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.25%. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, March 28th. Commercial Metals’s payout ratio is presently 12.50%.

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.