Commercial Metals (NYSE:CMC) Shares Sold by B. Metzler seel. Sohn & Co. AG

B. Metzler seel. Sohn & Co. AG reduced its holdings in shares of Commercial Metals (NYSE:CMC) by 11.7% in the 4th quarter, HoldingsChannel reports. The fund owned 16,191 shares of the basic materials company’s stock after selling 2,153 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Commercial Metals were worth $803,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CMC. Norges Bank acquired a new position in Commercial Metals in the fourth quarter valued at approximately $69,261,000. JPMorgan Chase & Co. boosted its holdings in shares of Commercial Metals by 45.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,576,316 shares of the basic materials company’s stock valued at $78,185,000 after buying an additional 495,163 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Commercial Metals by 11.3% in the 4th quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company’s stock valued at $120,152,000 after buying an additional 245,468 shares during the last quarter. Boston Partners raised its stake in Commercial Metals by 6.4% during the 4th quarter. Boston Partners now owns 4,055,150 shares of the basic materials company’s stock worth $201,178,000 after acquiring an additional 243,921 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Commercial Metals in the fourth quarter valued at $11,052,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

CMC has been the topic of several research reports. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Morgan Stanley cut their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Jefferies Financial Group decreased their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. UBS Group cut their target price on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. Finally, BMO Capital Markets decreased their price target on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research note on Friday, March 21st. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Commercial Metals has a consensus rating of “Hold” and a consensus price target of $60.33.

Commercial Metals Stock Performance

Shares of CMC opened at $41.67 on Friday. Commercial Metals has a 1 year low of $41.29 and a 1 year high of $64.53. The stock has a market capitalization of $4.71 billion, a P/E ratio of 37.54, a P/E/G ratio of 2.62 and a beta of 1.17. 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 company’s fifty day moving average is $48.25 and its two-hundred day moving average is $52.54.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 earnings per share. On average, sell-side analysts predict that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be issued a $0.18 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.73%. Commercial Metals’s dividend payout ratio is currently 120.00%.

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.