Commercial Metals (NYSE:CMC) Shares Bought by Boston Partners

Boston Partners grew its stake in Commercial Metals (NYSE:CMC) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,055,150 shares of the basic materials company’s stock after acquiring an additional 243,921 shares during the quarter. Boston Partners’ holdings in Commercial Metals were worth $201,178,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Ashton Thomas Private Wealth LLC lifted its position in shares of Commercial Metals by 5.3% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 4,528 shares of the basic materials company’s stock valued at $225,000 after acquiring an additional 229 shares in the last quarter. Truist Financial Corp lifted its position in shares of Commercial Metals by 3.5% in the fourth quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company’s stock valued at $355,000 after acquiring an additional 242 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Commercial Metals by 10.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock valued at $138,000 after acquiring an additional 254 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Commercial Metals by 0.8% in the fourth quarter. Arizona State Retirement System now owns 33,373 shares of the basic materials company’s stock valued at $1,655,000 after acquiring an additional 262 shares in the last quarter. Finally, V Square Quantitative Management LLC lifted its position in shares of Commercial Metals by 60.7% in the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 267 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Stock Performance

Commercial Metals stock opened at $46.30 on Wednesday. The stock’s 50-day moving average is $48.89 and its 200-day moving average is $52.85. The company has a market cap of $5.26 billion, a price-to-earnings ratio of 41.71, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. 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 released its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business posted $1.49 EPS. Equities analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders 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 dividend yield of 1.56%. Commercial Metals’s dividend payout ratio (DPR) is 64.86%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CMC shares. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $56.00 to $54.00 in a research report on Friday, January 10th. The Goldman Sachs Group assumed coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price on the stock. BMO Capital Markets reduced their target price on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research report on Friday, January 3rd. BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Finally, Morgan Stanley reduced their target price on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.83.

Commercial Metals Profile

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.