Commercial Metals (NYSE:CMC) Shares Purchased by Hilton Capital Management LLC

Hilton Capital Management LLC raised its position in shares of Commercial Metals (NYSE:CMC) by 58.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,203 shares of the basic materials company’s stock after purchasing an additional 12,640 shares during the quarter. Hilton Capital Management LLC’s holdings in Commercial Metals were worth $1,696,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its stake in Commercial Metals by 0.4% during the 3rd quarter. State Street Corp now owns 5,830,412 shares of the basic materials company’s stock valued at $320,439,000 after acquiring an additional 24,665 shares during the period. Geode Capital Management LLC raised its stake in shares of Commercial Metals by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock valued at $156,093,000 after buying an additional 28,019 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Commercial Metals by 11.3% in the 4th quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company’s stock valued at $120,152,000 after buying an additional 245,468 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Commercial Metals by 1.1% in the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after buying an additional 17,931 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Commercial Metals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock worth $80,369,000 after acquiring an additional 18,262 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CMC has been the subject of several analyst reports. Jefferies Financial Group decreased their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. UBS Group raised Commercial Metals from a “sell” rating to a “neutral” rating and reduced their price target for the stock from $56.00 to $54.00 in a report on Friday, January 10th. Morgan Stanley reduced their target price 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 target price on shares of 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. Finally, BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $61.83.

Commercial Metals Trading Up 0.3 %

CMC opened at $44.53 on Friday. The business’s 50 day moving average price is $49.17 and its 200 day moving average price is $53.07. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The stock has a market capitalization of $5.06 billion, a PE ratio of 40.11, a P/E/G ratio of 2.62 and a beta of 1.17. Commercial Metals has a one year low of $42.62 and a one year high of $64.53.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the prior year, the business posted $1.49 EPS. The company’s revenue was down 4.7% compared to the same quarter last year. As a group, equities research analysts expect that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors 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 dividend on an annualized basis and a dividend yield of 1.62%. Commercial Metals’s 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.