4,207 Shares in Commercial Metals (NYSE:CMC) Acquired by Bailard Inc.

Bailard Inc. bought a new position in shares of Commercial Metals (NYSE:CMC) in the fourth quarter, Holdings Channel reports. The firm bought 4,207 shares of the basic materials company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMC. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Commercial Metals by 122.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company’s stock worth $68,455,000 after buying an additional 686,519 shares during the period. Thompson Siegel & Walmsley LLC grew its position in shares of Commercial Metals by 58.0% in the third quarter. Thompson Siegel & Walmsley LLC now owns 1,440,531 shares of the basic materials company’s stock valued at $79,172,000 after purchasing an additional 528,876 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Commercial Metals in the third quarter worth about $16,731,000. Wellington Management Group LLP lifted its position in shares of Commercial Metals by 18.8% during the 3rd quarter. Wellington Management Group LLP now owns 714,808 shares of the basic materials company’s stock worth $39,286,000 after purchasing an additional 113,156 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Commercial Metals during the 3rd quarter valued at approximately $5,662,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $47.21 on Thursday. Commercial Metals has a twelve month low of $43.81 and a twelve month high of $64.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The firm has a market cap of $5.36 billion, a P/E ratio of 42.53, a price-to-earnings-growth ratio of 2.62 and a beta of 1.18. The firm’s 50-day simple moving average is $49.73 and its 200-day simple moving average is $53.42.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, meeting the consensus estimate of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the company posted $1.49 EPS. The company’s revenue was down 4.7% compared to the same quarter last year. As a group, research analysts expect that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $0.72 annualized dividend and a yield of 1.53%. Commercial Metals’s dividend payout ratio is currently 64.86%.

Analyst Ratings Changes

Several brokerages have commented on CMC. The Goldman Sachs Group assumed coverage on Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 price target for the company. Jefferies Financial Group reduced their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. BMO Capital Markets dropped their price objective on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, January 3rd. Morgan Stanley reduced their target price on shares of Commercial Metals from $65.00 to $56.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Finally, BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.33.

About Commercial Metals

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.