Patriot Financial Group Insurance Agency LLC Boosts Stock Position in Commercial Metals (NYSE:CMC)

Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Commercial Metals (NYSE:CMC) by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,476 shares of the basic materials company’s stock after buying an additional 889 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Commercial Metals were worth $520,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CMC. State Street Corp raised its position in Commercial Metals by 0.4% during the third quarter. State Street Corp now owns 5,830,412 shares of the basic materials company’s stock worth $320,439,000 after acquiring an additional 24,665 shares during the period. Geode Capital Management LLC raised its position in shares of Commercial Metals by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock worth $156,093,000 after purchasing an additional 28,019 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Commercial Metals by 1.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,176,959 shares of the basic materials company’s stock valued at $119,646,000 after buying an additional 41,206 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Commercial Metals by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after buying an additional 17,931 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Commercial Metals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock worth $80,369,000 after buying an additional 18,262 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Down 0.9 %

Shares of NYSE CMC opened at $49.89 on Thursday. Commercial Metals has a 12-month low of $45.50 and a 12-month high of $64.53. The stock has a market cap of $5.67 billion, a P/E ratio of 44.95, a PEG ratio of 2.59 and a beta of 1.19. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $53.97 and its 200-day simple moving average is $54.54.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.78. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the firm earned $1.49 earnings per share. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. As a group, equities analysts predict that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, January 16th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.44%. Commercial Metals’s payout ratio is currently 64.86%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $56.00 to $54.00 in a report on Friday, January 10th. Morgan Stanley assumed coverage on shares of Commercial Metals in a report on Thursday, December 19th. They set an “equal weight” rating and a $65.00 target price for the company. BMO Capital Markets reduced their target price on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research report on Friday, January 3rd. Finally, Jefferies Financial Group lowered their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Commercial Metals has an average rating of “Hold” and a consensus target price of $63.83.

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.