First Eagle Investment Management LLC Has $12.14 Million Position in Commercial Metals (NYSE:CMC)

First Eagle Investment Management LLC lifted its stake in shares of Commercial Metals (NYSE:CMC) by 7.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 244,679 shares of the basic materials company’s stock after acquiring an additional 17,450 shares during the period. First Eagle Investment Management LLC owned 0.22% of Commercial Metals worth $12,136,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CMC. Heck Capital Advisors LLC acquired a new position in shares of Commercial Metals during the 4th quarter valued at $34,000. V Square Quantitative Management LLC increased its stake in Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 267 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 297 shares in the last quarter. Amundi increased its stake in Commercial Metals by 29.9% during the 4th quarter. Amundi now owns 2,189 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 504 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Commercial Metals by 56.6% during the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 944 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CMC. BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and decreased their price target for the company from $56.00 to $54.00 in a research note on Friday, January 10th. Morgan Stanley decreased their price target on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. BMO Capital Markets decreased their price target on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research note on Friday, January 3rd. Finally, Jefferies Financial Group reduced their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $61.83.

Commercial Metals Stock Performance

NYSE CMC opened at $46.33 on Friday. Commercial Metals has a 1 year low of $42.62 and a 1 year high of $64.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 41.73, a PEG ratio of 2.62 and a beta of 1.17. The company has a fifty day moving average price of $49.03 and a 200-day moving average price of $52.96.

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

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Thursday, January 16th were given a dividend of $0.18 per share. The ex-dividend date was Thursday, January 16th. This represents a $0.72 annualized dividend and a yield of 1.55%. Commercial Metals’s payout ratio is currently 64.86%.

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.