William Blair Investment Management LLC Has $33.98 Million Position in Commercial Metals (NYSE:CMC)

William Blair Investment Management LLC grew its position in Commercial Metals (NYSE:CMC) by 2.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 685,155 shares of the basic materials company’s stock after buying an additional 16,828 shares during the quarter. William Blair Investment Management LLC owned 0.60% of Commercial Metals worth $33,984,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CMC. Jacobs Levy Equity Management Inc. increased its position in 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 worth $68,455,000 after purchasing an additional 686,519 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its position in Commercial Metals by 58.0% during the 3rd 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new position in Commercial Metals during the 3rd quarter worth approximately $16,731,000. Victory Capital Management Inc. increased its position in Commercial Metals by 11.3% during the 4th quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company’s stock worth $120,152,000 after purchasing an additional 245,468 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Commercial Metals during the 4th quarter worth approximately $11,052,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Trading Up 0.3 %

NYSE:CMC opened at $46.30 on Wednesday. The firm’s fifty day moving average is $48.89 and its 200-day moving average is $52.85. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. Commercial Metals has a 52 week low of $42.62 and a 52 week high of $64.53. The firm has a market cap of $5.26 billion, a P/E ratio of 41.71, a P/E/G ratio of 2.62 and a beta of 1.17.

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

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Thursday, January 16th. Commercial Metals’s dividend payout ratio is currently 64.86%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Morgan Stanley lowered their price objective 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. BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and lowered their price objective for the stock from $56.00 to $54.00 in a research report on Friday, January 10th. Jefferies Financial Group reduced their target price 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. Finally, The Goldman Sachs Group began coverage on shares of Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price on the stock. Six 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.com, Commercial Metals presently has a consensus rating of “Hold” and a consensus 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.