Fmr LLC Has $32.94 Million Stake in Commercial Metals (CMC)

Fmr LLC decreased its position in shares of Commercial Metals (NYSE:CMC) by 39.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,055,869 shares of the basic materials company’s stock after selling 1,326,579 shares during the quarter. Fmr LLC owned 1.75% of Commercial Metals worth $32,936,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Deutsche Bank AG grew its stake in shares of Commercial Metals by 36.1% during the 3rd quarter. Deutsche Bank AG now owns 531,088 shares of the basic materials company’s stock worth $10,896,000 after purchasing an additional 141,010 shares during the period. Penn Capital Management Co. Inc. grew its stake in shares of Commercial Metals by 15.6% during the 4th quarter. Penn Capital Management Co. Inc. now owns 27,919 shares of the basic materials company’s stock worth $1,135,000 after purchasing an additional 3,778 shares during the period. Hudson Valley Investment Advisors Inc. ADV grew its stake in shares of Commercial Metals by 78.0% during the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 39,560 shares of the basic materials company’s stock worth $634,000 after purchasing an additional 17,340 shares during the period. Teachers Advisors LLC grew its stake in shares of Commercial Metals by 1.1% during the 3rd quarter. Teachers Advisors LLC now owns 270,435 shares of the basic materials company’s stock worth $5,549,000 after purchasing an additional 2,902 shares during the period. Finally, Vanguard Group Inc grew its stake in shares of Commercial Metals by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 10,591,735 shares of the basic materials company’s stock worth $217,343,000 after purchasing an additional 78,875 shares during the period. 88.79% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals stock opened at $17.58 on Friday. Commercial Metals has a 1 year low of $15.23 and a 1 year high of $24.95. The firm has a market capitalization of $2.07 billion, a P/E ratio of 11.27, a P/E/G ratio of 0.98 and a beta of 1.31. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.60 and a current ratio of 2.75.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.46 billion. Commercial Metals had a return on equity of 12.49% and a net margin of 2.41%. The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 EPS. As a group, analysts forecast that Commercial Metals will post 1.92 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, April 5th were issued a $0.12 dividend. The ex-dividend date was Thursday, April 4th. This represents a $0.48 dividend on an annualized basis and a yield of 2.73%. Commercial Metals’s payout ratio is currently 32.21%.

A number of equities research analysts recently issued reports on CMC shares. Zacks Investment Research raised shares of Commercial Metals from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research note on Wednesday, January 2nd. Citigroup set a $18.00 price target on shares of Commercial Metals and gave the company a “hold” rating in a research note on Tuesday, January 8th. Macquarie set a $21.00 price target on shares of Commercial Metals and gave the company a “hold” rating in a research note on Tuesday, January 8th. Cowen started coverage on shares of Commercial Metals in a research note on Tuesday, January 8th. They issued a “market perform” rating and a $17.00 price target on the stock. Finally, Seaport Global Securities reissued a “hold” rating on shares of Commercial Metals in a research note on Tuesday, January 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Commercial Metals has a consensus rating of “Hold” and an average price target of $20.23.

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About Commercial Metals

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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