TD Private Client Wealth LLC Decreases Stake in Commercial Metals (NYSE:CMC)

TD Private Client Wealth LLC trimmed its holdings in shares of Commercial Metals (NYSE:CMC) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,312 shares of the basic materials company’s stock after selling 596 shares during the quarter. TD Private Client Wealth LLC’s holdings in Commercial Metals were worth $263,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC grew its stake in Commercial Metals by 87.8% during the 3rd quarter. Intech Investment Management LLC now owns 36,392 shares of the basic materials company’s stock valued at $2,000,000 after purchasing an additional 17,010 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of 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 buying an additional 18,262 shares in the last quarter. Citigroup Inc. increased its stake in shares of Commercial Metals by 99.0% in the third quarter. Citigroup Inc. now owns 123,506 shares of the basic materials company’s stock worth $6,788,000 after buying an additional 61,447 shares during the last quarter. Cerity Partners LLC raised its holdings in Commercial Metals by 37.8% in the third quarter. Cerity Partners LLC now owns 38,990 shares of the basic materials company’s stock valued at $2,143,000 after acquiring an additional 10,693 shares in the last quarter. Finally, Qsemble Capital Management LP boosted its stake in Commercial Metals by 20.9% during the 3rd quarter. Qsemble Capital Management LP now owns 8,973 shares of the basic materials company’s stock valued at $493,000 after acquiring an additional 1,549 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CMC shares. Morgan Stanley dropped their target price 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. UBS Group cut their price objective on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday. The Goldman Sachs Group began coverage on Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price on the stock. BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Finally, Jefferies Financial Group reduced their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.33.

Commercial Metals Trading Up 4.9 %

NYSE:CMC opened at $48.89 on Tuesday. The firm has a market capitalization of $5.56 billion, a P/E ratio of 44.04, a P/E/G ratio of 2.62 and a beta of 1.17. The business has a 50 day simple moving average of $48.87 and a 200 day simple moving average of $52.74. 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 has a 12-month low of $42.62 and a 12-month high of $64.53.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm posted $0.88 EPS. The business’s revenue was down 5.1% compared to the same quarter last year. Equities research analysts predict that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.47%. The ex-dividend date is Monday, March 31st. Commercial Metals’s dividend payout ratio (DPR) is 120.00%.

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.