Commercial Metals Company $CMC Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP trimmed its position in shares of Commercial Metals Company (NYSE:CMC) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 548,320 shares of the basic materials company’s stock after selling 15,435 shares during the period. Systematic Financial Management LP’s holdings in Commercial Metals were worth $37,955,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its holdings in shares of Commercial Metals by 2.6% during the 3rd quarter. State Street Corp now owns 6,270,373 shares of the basic materials company’s stock worth $359,167,000 after buying an additional 161,195 shares during the last quarter. Boston Partners increased its holdings in Commercial Metals by 1.9% in the 3rd quarter. Boston Partners now owns 3,641,930 shares of the basic materials company’s stock valued at $208,629,000 after purchasing an additional 67,139 shares in the last quarter. American Century Companies Inc. increased its holdings in Commercial Metals by 6.6% in the 3rd quarter. American Century Companies Inc. now owns 1,823,923 shares of the basic materials company’s stock valued at $104,474,000 after purchasing an additional 112,267 shares in the last quarter. Invesco Ltd. increased its holdings in Commercial Metals by 4.8% in the 3rd quarter. Invesco Ltd. now owns 1,661,027 shares of the basic materials company’s stock valued at $95,144,000 after purchasing an additional 76,365 shares in the last quarter. Finally, UBS Group AG increased its holdings in Commercial Metals by 41.8% in the 3rd quarter. UBS Group AG now owns 1,521,130 shares of the basic materials company’s stock valued at $87,130,000 after purchasing an additional 448,083 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

NYSE:CMC opened at $71.87 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.38 and a quick ratio of 1.55. The firm has a 50-day moving average of $65.93 and a two-hundred day moving average of $68.84. The stock has a market cap of $7.97 billion, a P/E ratio of 16.01, a PEG ratio of 0.42 and a beta of 1.49. Commercial Metals Company has a 1-year low of $45.50 and a 1-year high of $84.87.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, March 26th. The basic materials company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.26 earnings per share. On average, research analysts expect that Commercial Metals Company will post 6.51 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, April 6th. This is an increase from Commercial Metals’s previous quarterly dividend of $0.18. Commercial Metals’s dividend payout ratio is currently 16.04%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Commercial Metals to a “buy” rating in a report on Friday. JPMorgan Chase & Co. lowered their price target on Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. UBS Group upgraded Commercial Metals from a “neutral” rating to a “buy” rating and increased their price target for the company from $79.00 to $89.00 in a report on Wednesday, May 13th. Barclays assumed coverage on Commercial Metals in a report on Thursday. They issued an “equal weight” rating and a $75.00 price target for the company. Finally, The Goldman Sachs Group assumed coverage on Commercial Metals in a report on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $74.82.

Commercial Metals Company Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.