Cerity Partners LLC Lowers Stake in Commercial Metals Company (NYSE:CMC)

Cerity Partners LLC lowered its stake in shares of Commercial Metals Company (NYSE:CMC) by 5.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 36,174 shares of the basic materials company’s stock after selling 2,033 shares during the period. Cerity Partners LLC’s holdings in Commercial Metals were worth $1,664,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Park Square Financial Group LLC acquired a new stake in Commercial Metals during the 4th quarter worth approximately $33,000. Heck Capital Advisors LLC acquired a new stake in Commercial Metals during the 4th quarter worth approximately $34,000. UMB Bank n.a. lifted its holdings in Commercial Metals by 51.9% during the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company’s stock worth $36,000 after buying an additional 268 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Commercial Metals during the 1st quarter worth approximately $47,000. Finally, South Plains Financial Inc. acquired a new stake in Commercial Metals during the 4th quarter worth approximately $73,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Up 0.2%

Shares of NYSE:CMC opened at $52.63 on Monday. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 169.77, a PEG ratio of 2.14 and a beta of 1.26. The firm’s 50-day simple moving average is $49.46 and its 200-day simple moving average is $47.84. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32. Commercial Metals Company has a fifty-two week low of $37.92 and a fifty-two week high of $64.53.

Commercial Metals (NYSE:CMC) last issued its earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.11). Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the previous year, the firm earned $1.02 EPS. The firm’s revenue was down 2.8% on a year-over-year basis. As a group, equities research analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.72 annualized dividend and a yield of 1.37%. Commercial Metals’s payout ratio is currently 232.26%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CMC shares. BMO Capital Markets restated a “market perform” rating and issued a $55.00 price objective (down from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. Jefferies Financial Group restated a “buy” rating on shares of Commercial Metals in a report on Friday, June 20th. JPMorgan Chase & Co. raised their price objective on shares of Commercial Metals from $52.00 to $54.00 and gave the company a “neutral” rating in a report on Monday, July 14th. UBS Group restated a “neutral” rating on shares of Commercial Metals in a report on Friday, June 20th. Finally, Morgan Stanley set a $57.50 price target on shares of Commercial Metals in a research note on Wednesday, June 25th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $57.50.

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.