Vest Financial LLC Acquires 20,411 Shares of Commercial Metals (NYSE:CMC)

Vest Financial LLC raised its holdings in Commercial Metals (NYSE:CMC) by 72.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,531 shares of the basic materials company’s stock after buying an additional 20,411 shares during the period. Vest Financial LLC’s holdings in Commercial Metals were worth $2,407,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Heck Capital Advisors LLC bought a new position in Commercial Metals in the 4th quarter valued at about $34,000. nVerses Capital LLC acquired a new stake in Commercial Metals during the 3rd quarter worth approximately $66,000. GAMMA Investing LLC boosted its stake in Commercial Metals by 56.6% in the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 944 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Commercial Metals in the 4th quarter valued at $134,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Commercial Metals by 10.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock worth $138,000 after buying an additional 254 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Stock Down 0.9 %

Shares of NYSE:CMC opened at $49.68 on Friday. The business has a fifty day simple moving average of $52.19 and a 200 day simple moving average of $54.09. Commercial Metals has a 12-month low of $45.50 and a 12-month high of $64.53. The firm has a market cap of $5.65 billion, a P/E ratio of 44.76, a P/E/G ratio of 2.58 and a beta of 1.18. 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 announced its earnings results on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. The business had revenue of $1.91 billion for 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 was down 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.49 earnings per share. Analysts predict that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm 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. The ex-dividend date was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.45%. Commercial Metals’s payout ratio is currently 64.86%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CMC. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 price objective for the company. Jefferies Financial Group dropped their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and cut their target price for the company from $56.00 to $54.00 in a research report on Friday, January 10th. Morgan Stanley decreased their price target on Commercial Metals from $65.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Finally, BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $62.33.

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.