ARS Investment Partners LLC Increases Stock Position in Commercial Metals (NYSE:CMC)

ARS Investment Partners LLC grew its holdings in Commercial Metals (NYSE:CMC) by 0.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 291,482 shares of the basic materials company’s stock after buying an additional 942 shares during the quarter. Commercial Metals comprises 1.3% of ARS Investment Partners LLC’s investment portfolio, making the stock its 28th biggest holding. ARS Investment Partners LLC owned 0.26% of Commercial Metals worth $14,458,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of Commercial Metals by 19.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 302,192 shares of the basic materials company’s stock worth $16,618,000 after purchasing an additional 48,453 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Commercial Metals by 10.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 14,566 shares of the basic materials company’s stock worth $801,000 after buying an additional 1,340 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Commercial Metals by 13.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,739 shares of the basic materials company’s stock valued at $701,000 after buying an additional 1,499 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Commercial Metals by 119.2% during the 2nd quarter. Hsbc Holdings PLC now owns 99,841 shares of the basic materials company’s stock valued at $5,476,000 after acquiring an additional 54,298 shares during the period. Finally, Inspire Investing LLC boosted its stake in shares of Commercial Metals by 4.6% during the 2nd quarter. Inspire Investing LLC now owns 6,392 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 284 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Price Performance

NYSE:CMC opened at $50.63 on Tuesday. The stock’s 50 day moving average price is $55.33 and its two-hundred day moving average price is $54.69. 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 capitalization of $5.75 billion, a price-to-earnings ratio of 45.61, a P/E/G ratio of 2.45 and a beta of 1.19. Commercial Metals has a 12-month low of $45.50 and a 12-month high of $64.53.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data 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. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.85 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.49 earnings per share. On average, analysts anticipate that Commercial Metals will post 3.28 earnings per share for the current year.

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.42%. Commercial Metals’s dividend payout ratio is presently 64.86%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CMC. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and dropped their price target for the company from $56.00 to $54.00 in a research report on Friday, January 10th. Jefferies Financial Group reduced their target price on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley started coverage on shares of Commercial Metals in a research note on Thursday, December 19th. They set an “equal weight” rating and a $65.00 price target on the stock. The Goldman Sachs Group started coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price on the stock. Finally, Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and three have issued 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 $63.83.

Commercial Metals 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.