Commercial Metals Company $CMC Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in shares of Commercial Metals Company (NYSE:CMC) by 29.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 39,272 shares of the basic materials company’s stock after acquiring an additional 8,915 shares during the period. Thrivent Financial for Lutherans’ holdings in Commercial Metals were worth $2,719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC lifted its position in Commercial Metals by 3.1% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,904 shares of the basic materials company’s stock worth $339,000 after acquiring an additional 149 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Commercial Metals by 2.9% during the 3rd quarter. Quadrant Capital Group LLC now owns 6,626 shares of the basic materials company’s stock worth $380,000 after acquiring an additional 188 shares in the last quarter. Captrust Financial Advisors lifted its position in Commercial Metals by 4.4% during the 2nd quarter. Captrust Financial Advisors now owns 4,813 shares of the basic materials company’s stock worth $235,000 after acquiring an additional 202 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Commercial Metals by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,543 shares of the basic materials company’s stock worth $1,383,000 after acquiring an additional 206 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in Commercial Metals by 4.7% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 4,775 shares of the basic materials company’s stock worth $274,000 after acquiring an additional 213 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wells Fargo & Company reduced their price target on Commercial Metals from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, March 27th. Wall Street Zen lowered Commercial Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. Barclays started coverage on Commercial Metals in a research report on Thursday. They issued an “equal weight” rating and a $75.00 target price on the stock. Zacks Research lowered Commercial Metals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, The Goldman Sachs Group started coverage on Commercial Metals in a research report on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Commercial Metals has an average rating of “Moderate Buy” and a consensus target price of $74.82.

Commercial Metals Stock Down 0.0%

CMC stock opened at $71.87 on Monday. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 16.01, a PEG ratio of 0.42 and a beta of 1.49. Commercial Metals Company has a 1-year low of $45.50 and a 1-year high of $84.87. The firm has a fifty day moving average price of $65.93 and a two-hundred day moving average price of $68.91. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.38 and a quick ratio of 1.55.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, March 26th. The basic materials company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.10 billion. Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period last year, the company posted $0.26 earnings per share. Research analysts predict that Commercial Metals Company will post 6.51 EPS for the current year.

Commercial Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, April 6th. Commercial Metals’s dividend payout ratio is currently 16.04%.

Commercial Metals Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.