Farther Finance Advisors LLC Has $326,000 Stock Position in Commercial Metals (NYSE:CMC)

Farther Finance Advisors LLC cut its holdings in Commercial Metals (NYSE:CMC) by 7.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,579 shares of the basic materials company’s stock after selling 547 shares during the quarter. Farther Finance Advisors LLC’s holdings in Commercial Metals were worth $326,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Jacobs Levy Equity Management Inc. lifted its position in shares of Commercial Metals by 122.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company’s stock valued at $68,455,000 after acquiring an additional 686,519 shares during the period. Thompson Siegel & Walmsley LLC grew its holdings in Commercial Metals by 58.0% in the third quarter. Thompson Siegel & Walmsley LLC now owns 1,440,531 shares of the basic materials company’s stock worth $79,172,000 after purchasing an additional 528,876 shares during the period. Caisse DE Depot ET Placement DU Quebec bought a new stake in Commercial Metals in the third quarter valued at $16,731,000. Victory Capital Management Inc. raised its holdings in shares of Commercial Metals by 11.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company’s stock valued at $120,152,000 after purchasing an additional 245,468 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Commercial Metals during the 4th quarter worth about $11,052,000. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CMC. UBS Group raised Commercial Metals from a “sell” rating to a “neutral” rating and decreased their target price for the company from $56.00 to $54.00 in a research report on Friday, January 10th. The Goldman Sachs Group initiated coverage on Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective for the company. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Morgan Stanley reduced 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 report on Friday, March 7th. Finally, Jefferies Financial Group lowered their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.83.

Commercial Metals Trading Down 0.4 %

Shares of Commercial Metals stock opened at $46.14 on Tuesday. The company has a market capitalization of $5.24 billion, a P/E ratio of 41.56, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The stock has a fifty day simple moving average of $48.94 and a 200 day simple moving average of $52.90. Commercial Metals has a 12-month low of $42.62 and a 12-month high of $64.53. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29.

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

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders 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 dividend yield of 1.56%. Commercial Metals’s dividend payout ratio is currently 64.86%.

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.