Commercial Metals (NYSE:CMC) Stock Position Decreased by Tidal Investments LLC

Tidal Investments LLC lessened its holdings in shares of Commercial Metals (NYSE:CMC) by 45.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,905 shares of the basic materials company’s stock after selling 24,539 shares during the period. Tidal Investments LLC’s holdings in Commercial Metals were worth $1,589,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. nVerses Capital LLC bought a new stake in shares of Commercial Metals during the 3rd quarter valued at about $66,000. Archer Investment Corp bought a new position in Commercial Metals in the 2nd quarter worth about $77,000. KBC Group NV grew its position in Commercial Metals by 15.9% in the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock worth $170,000 after purchasing an additional 425 shares during the last quarter. Innealta Capital LLC bought a new position in Commercial Metals in the 2nd quarter worth about $195,000. Finally, Highland Capital Management LLC bought a new position in Commercial Metals in the 3rd quarter worth about $206,000. Institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

CMC has been the subject of several recent analyst reports. UBS Group restated a “sell” rating and issued a $56.00 target price (down previously from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. BMO Capital Markets set a $62.00 target price on shares of Commercial Metals and gave the stock a “market perform” rating in a research report on Friday, October 18th. The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price for the company. Wolfe Research cut shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group started coverage on shares of Commercial Metals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $65.40.

Commercial Metals Trading Down 3.7 %

Commercial Metals stock opened at $54.20 on Wednesday. The firm has a 50 day simple moving average of $58.00 and a 200-day simple moving average of $55.21. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78. The stock has a market capitalization of $6.18 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15. Commercial Metals has a 12-month low of $47.42 and a 12-month high of $64.53.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, October 17th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.01). Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. As a group, equities research analysts expect that Commercial Metals will post 4.26 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Thursday, October 31st. Commercial Metals’s dividend payout ratio is presently 17.39%.

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.