William Blair Investment Management LLC Buys 16,828 Shares of Commercial Metals (NYSE:CMC)

William Blair Investment Management LLC increased its stake in shares of Commercial Metals (NYSE:CMC) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 685,155 shares of the basic materials company’s stock after acquiring an additional 16,828 shares during the quarter. William Blair Investment Management LLC’s holdings in Commercial Metals were worth $33,984,000 at the end of the most recent quarter.

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

Commercial Metals Price Performance

CMC stock opened at $46.30 on Wednesday. The firm has a 50 day moving average of $48.89 and a 200-day moving average of $52.85. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. Commercial Metals has a 12 month low of $42.62 and a 12 month high of $64.53. The firm has a market capitalization of $5.26 billion, a P/E ratio of 41.71, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17.

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, meeting analysts’ consensus estimates of $0.78. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the business earned $1.49 earnings per share. Commercial Metals’s revenue was down 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were given a $0.18 dividend. The ex-dividend date of this dividend 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 currently 64.86%.

Wall Street Analyst Weigh In

CMC has been the topic of several research reports. BMO Capital Markets lowered their price objective on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, January 3rd. The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective on the stock. Jefferies Financial Group lowered their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and lowered their price objective for the stock from $56.00 to $54.00 in a report on Friday, January 10th. Finally, BNP Paribas downgraded 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. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $61.83.

Commercial Metals Company 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.