Boston Partners Raises Stock Holdings in Commercial Metals (NYSE:CMC)

Boston Partners raised its position in Commercial Metals (NYSE:CMC) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,055,150 shares of the basic materials company’s stock after buying an additional 243,921 shares during the quarter. Boston Partners owned approximately 3.57% of Commercial Metals worth $201,178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its stake in Commercial Metals by 42.5% in the fourth quarter. Intech Investment Management LLC now owns 51,850 shares of the basic materials company’s stock valued at $2,572,000 after buying an additional 15,458 shares during the last quarter. RD Lewis Holdings Inc. purchased a new stake in Commercial Metals in the fourth quarter valued at approximately $1,883,000. William Blair Investment Management LLC lifted its stake in Commercial Metals by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 685,155 shares of the basic materials company’s stock valued at $33,984,000 after buying an additional 16,828 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in Commercial Metals in the fourth quarter valued at approximately $286,000. Finally, Cibc World Markets Corp purchased a new stake in Commercial Metals in the fourth quarter valued at approximately $529,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Trading Up 0.3 %

Shares of CMC stock opened at $46.30 on Wednesday. The business’s fifty day moving average price is $48.89 and its 200 day moving average price is $52.85. Commercial Metals has a 1-year low of $42.62 and a 1-year high of $64.53. The firm has a market capitalization of $5.26 billion, a PE ratio of 41.71, a P/E/G ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94.

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

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, January 16th. Commercial Metals’s dividend payout ratio (DPR) is 64.86%.

Analyst Upgrades and Downgrades

CMC has been the subject of several analyst reports. The Goldman Sachs Group initiated coverage on Commercial Metals in a research note on Monday, December 2nd. They set a “buy” rating and a $75.00 price target for the company. Morgan Stanley cut their price target on 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 cut their price target on 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. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and cut their price target for the stock from $56.00 to $54.00 in a research note on Friday, January 10th. Finally, BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. 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 MarketBeat, the company 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.