Commercial Metals (NYSE:CMC) Shares Acquired by Congress Asset Management Co.

Congress Asset Management Co. grew its position in Commercial Metals (NYSE:CMC) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,135 shares of the basic materials company’s stock after acquiring an additional 7,155 shares during the quarter. Congress Asset Management Co. owned about 0.06% of Commercial Metals worth $3,429,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Commercial Metals by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,081,153 shares of the basic materials company’s stock valued at $59,420,000 after purchasing an additional 66,092 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Commercial Metals by 1.1% in the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock valued at $94,208,000 after buying an additional 17,931 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Commercial Metals by 66.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 71,151 shares of the basic materials company’s stock worth $3,529,000 after buying an additional 28,297 shares in the last quarter. Vestcor Inc boosted its position in Commercial Metals by 108.0% during the third quarter. Vestcor Inc now owns 18,103 shares of the basic materials company’s stock worth $995,000 after acquiring an additional 9,400 shares during the last quarter. Finally, Covea Finance grew its stake in Commercial Metals by 44.2% during the 4th quarter. Covea Finance now owns 62,000 shares of the basic materials company’s stock valued at $3,075,000 after acquiring an additional 19,000 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

Shares of Commercial Metals stock opened at $52.40 on Tuesday. The business’s fifty day simple moving average is $50.85 and its 200-day simple moving average is $53.72. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The firm has a market cap of $5.95 billion, a PE ratio of 47.20, a price-to-earnings-growth ratio of 2.58 and a beta of 1.18. Commercial Metals has a 52 week low of $45.50 and a 52 week high of $64.53.

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

Commercial Metals Dividend Announcement

The company also recently declared 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. This represents a $0.72 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Thursday, January 16th. Commercial Metals’s dividend payout ratio (DPR) is 64.86%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. BMO Capital Markets decreased their target price on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley lowered their price objective on Commercial Metals from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. UBS Group raised Commercial Metals from a “sell” rating to a “neutral” rating and cut their target price for the stock from $56.00 to $54.00 in a research note on Friday, January 10th. The Goldman Sachs Group started coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price target on the stock. Finally, Jefferies Financial Group dropped their price objective 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. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the 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.