Quantbot Technologies LP Purchases 13,004 Shares of Commercial Metals (NYSE:CMC)

Quantbot Technologies LP boosted its position in Commercial Metals (NYSE:CMC) by 209.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,219 shares of the basic materials company’s stock after purchasing an additional 13,004 shares during the quarter. Quantbot Technologies LP’s holdings in Commercial Metals were worth $953,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CMC. Jacobs Levy Equity Management Inc. boosted its position in shares of Commercial Metals by 122.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company’s stock valued at $68,455,000 after acquiring an additional 686,519 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in Commercial Metals during the third quarter worth about $16,731,000. Victory Capital Management Inc. lifted its position in Commercial Metals by 11.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company’s stock worth $120,152,000 after purchasing an additional 245,468 shares during the period. Boston Partners grew its stake in Commercial Metals by 6.4% during the fourth quarter. Boston Partners now owns 4,055,150 shares of the basic materials company’s stock worth $201,178,000 after buying an additional 243,921 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Commercial Metals in the 4th quarter valued at about $11,052,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Price Performance

CMC stock opened at $48.58 on Wednesday. The company has a market capitalization of $5.52 billion, a P/E ratio of 43.77, a PEG ratio of 2.62 and a beta of 1.17. Commercial Metals has a 52-week low of $42.62 and a 52-week high of $64.53. The company has a fifty day moving average price of $48.86 and a 200-day moving average price of $52.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company posted $0.88 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, equities analysts expect that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.48%. Commercial Metals’s payout ratio is currently 120.00%.

Analysts Set New Price Targets

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

Commercial Metals Company Profile

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.