Wealthfront Advisers LLC Buys New Shares in Commercial Metals (NYSE:CMC)

Wealthfront Advisers LLC bought a new stake in Commercial Metals (NYSE:CMC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 27,055 shares of the basic materials company’s stock, valued at approximately $1,342,000.

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

Commercial Metals Trading Up 4.1 %

Shares of NYSE:CMC opened at $46.33 on Friday. Commercial Metals has a 12-month low of $42.62 and a 12-month high of $64.53. The stock has a market cap of $5.26 billion, a PE ratio of 41.73, a P/E/G ratio of 2.62 and a beta of 1.17. The business has a 50 day moving average of $49.03 and a 200-day moving average of $52.95. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29.

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, meeting the consensus estimate of $0.78. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.49 earnings per share. As a group, equities research analysts forecast that Commercial Metals will post 3.09 earnings per share for the current 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 paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Thursday, January 16th. Commercial Metals’s dividend payout ratio (DPR) is currently 64.86%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. BMO Capital Markets reduced their price target on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a report on Friday, January 3rd. The Goldman Sachs Group assumed coverage on Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 price target for the company. Jefferies Financial Group reduced their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and reduced their price objective for the stock from $56.00 to $54.00 in a report on Friday, January 10th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.83.

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.