American Century Companies Inc. Boosts Stock Holdings in Commercial Metals (NYSE:CMC)

American Century Companies Inc. boosted its stake in Commercial Metals (NYSE:CMC) by 1.5% during the 4th quarter, Holdings Channel reports. The firm owned 852,994 shares of the basic materials company’s stock after buying an additional 12,909 shares during the quarter. American Century Companies Inc.’s holdings in Commercial Metals were worth $42,309,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CMC. State Street Corp lifted its position in shares of Commercial Metals by 0.4% in the third quarter. State Street Corp now owns 5,830,412 shares of the basic materials company’s stock worth $320,439,000 after buying an additional 24,665 shares in the last quarter. Boston Partners increased its stake in Commercial Metals by 6.4% in the 4th quarter. Boston Partners now owns 4,055,150 shares of the basic materials company’s stock worth $201,178,000 after acquiring an additional 243,921 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 worth $156,093,000 after acquiring an additional 28,019 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Commercial Metals by 11.3% during 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 acquiring an additional 245,468 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings 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 valued at $94,208,000 after purchasing an additional 17,931 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Morgan Stanley decreased their price target on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. The Goldman Sachs Group started coverage on Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target for the company. UBS Group decreased their price objective on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Jefferies Financial Group dropped their target price on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $60.33.

Commercial Metals Stock Performance

Commercial Metals stock opened at $48.36 on Friday. Commercial Metals has a 1-year low of $42.62 and a 1-year high of $64.53. The company’s 50-day moving average is $48.75 and its 200 day moving average is $52.68. The firm has a market capitalization of $5.50 billion, a P/E ratio of 43.57, 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 (NYSE:CMC) last issued its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. Research analysts forecast that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, March 31st. Commercial Metals’s dividend payout ratio is currently 120.00%.

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.