Natixis Advisors LLC Boosts Holdings in Commercial Metals Company $CMC

Natixis Advisors LLC raised its stake in shares of Commercial Metals Company (NYSE:CMC) by 7.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 203,917 shares of the basic materials company’s stock after acquiring an additional 14,444 shares during the quarter. Natixis Advisors LLC’s holdings in Commercial Metals were worth $14,115,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its holdings in Commercial Metals by 23.0% during the fourth quarter. BNP Paribas Financial Markets now owns 73,505 shares of the basic materials company’s stock valued at $5,088,000 after purchasing an additional 13,744 shares in the last quarter. Norges Bank purchased a new stake in Commercial Metals during the 4th quarter valued at about $97,983,000. IF Advisors LLC purchased a new stake in Commercial Metals during the 4th quarter valued at about $426,000. Intech Investment Management LLC grew its stake in Commercial Metals by 195.8% during the 4th quarter. Intech Investment Management LLC now owns 143,076 shares of the basic materials company’s stock valued at $9,904,000 after acquiring an additional 94,714 shares in the last quarter. Finally, Arista Wealth Management LLC purchased a new stake in Commercial Metals during the 4th quarter valued at about $346,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMC has been the subject of several research reports. KeyCorp initiated coverage on shares of Commercial Metals in a research note on Wednesday, March 25th. They set a “sector weight” rating for the company. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $77.00 price objective on shares of Commercial Metals in a research note on Thursday. UBS Group raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and upped their price objective for the company from $79.00 to $89.00 in a research note on Wednesday, May 13th. Barclays initiated coverage on shares of Commercial Metals in a research note on Thursday, May 21st. They set an “equal weight” rating and a $75.00 price objective for the company. Finally, Jefferies Financial Group raised shares of Commercial Metals from a “buy” rating to a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.10.

Commercial Metals Price Performance

Commercial Metals stock opened at $74.07 on Friday. Commercial Metals Company has a 12-month low of $47.06 and a 12-month high of $84.87. The stock has a market cap of $8.21 billion, a P/E ratio of 16.50, a PEG ratio of 0.44 and a beta of 1.50. The company has a 50-day moving average price of $68.67 and a 200 day moving average price of $70.01. The company has a current ratio of 2.38, a quick ratio of 1.55 and a debt-to-equity ratio of 0.75.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, March 26th. The basic materials company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.12). Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the business posted $0.26 earnings per share. Commercial Metals’s revenue for the quarter was up 21.5% on a year-over-year basis. Sell-side analysts anticipate that Commercial Metals Company will post 6.45 earnings per share for the current year.

Commercial Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, April 6th were given a dividend of $0.20 per share. The ex-dividend date was Monday, April 6th. This is an increase from Commercial Metals’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.1%. Commercial Metals’s dividend payout ratio (DPR) is 16.04%.

About Commercial Metals

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.