LPL Financial LLC Boosts Stake in Commercial Metals (NYSE:CMC)

LPL Financial LLC lifted its holdings in shares of Commercial Metals (NYSE:CMC) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,483 shares of the basic materials company’s stock after acquiring an additional 3,661 shares during the quarter. LPL Financial LLC’s holdings in Commercial Metals were worth $2,058,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in Commercial Metals during the 4th quarter worth approximately $34,000. V Square Quantitative Management LLC raised its holdings in Commercial Metals by 60.7% in the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 267 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Commercial Metals by 22.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after acquiring an additional 297 shares in the last quarter. Amundi boosted its stake in Commercial Metals by 29.9% during the 4th quarter. Amundi now owns 2,189 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 504 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Commercial Metals by 56.6% during the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after acquiring an additional 944 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Activity at Commercial Metals

In related news, Director John R. Mcpherson acquired 2,475 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the purchase, the director now directly owns 15,141 shares of the company’s stock, valued at $611,999.22. The trade was a 19.54 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. BMO Capital Markets reduced their price target on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research report on Friday, March 21st. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Jefferies Financial Group dropped their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. UBS Group decreased their price objective on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Finally, Morgan Stanley dropped their target price on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $60.33.

Commercial Metals Trading Down 0.0 %

Shares of NYSE:CMC opened at $41.87 on Tuesday. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average price is $46.87 and its 200 day moving average price is $51.78. The company has a market cap of $4.73 billion, a PE ratio of 37.72, a P/E/G ratio of 2.62 and a beta of 1.16. Commercial Metals has a fifty-two week low of $37.92 and a fifty-two week high of $64.53.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $0.88 EPS. The business’s quarterly revenue was down 5.1% on a year-over-year basis. Sell-side analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.72%. Commercial Metals’s payout ratio is 120.00%.

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.