LSV Asset Management Grows Position in Commercial Metals Company $CMC

by · The Cerbat Gem

LSV Asset Management raised its position in shares of Commercial Metals Company (NYSE:CMC – Free Report) by 28.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,000 shares of the basic materials company’s stock after buying an additional 74,300 shares during the quarter. LSV Asset Management’s holdings in Commercial Metals were worth $23,535,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CMC. Root Financial Partners LLC purchased a new position in Commercial Metals during the 3rd quarter valued at approximately $25,000. Rothschild Investment LLC grew its holdings in Commercial Metals by 169.6% during the 3rd quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company’s stock valued at $29,000 after buying an additional 324 shares in the last quarter. Global Retirement Partners LLC grew its holdings in Commercial Metals by 110.7% during the 4th quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock valued at $40,000 after buying an additional 301 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Commercial Metals during the 4th quarter valued at approximately $54,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in Commercial Metals during the 3rd quarter valued at approximately $73,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $71.87 on Monday. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 0.42 and a beta of 1.49. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.55 and a current ratio of 2.38. The stock has a 50 day moving average price of $65.93 and a 200-day moving average price of $68.91. Commercial Metals Company has a one year low of $45.50 and a one year high of $84.87.

Commercial Metals (NYSE:CMC – Get Free Report) last announced its earnings results on Thursday, March 26th. The basic materials company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.Commercial Metals’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 EPS. Equities analysts expect that Commercial Metals Company will post 6.51 EPS for the current year.

Commercial Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, April 6th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, April 6th. This is an increase from Commercial Metals’s previous quarterly dividend of $0.18. Commercial Metals’s dividend payout ratio (DPR) is presently 16.04%.

Analyst Ratings Changes

Several research firms have weighed in on CMC. Wall Street Zen cut Commercial Metals from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 4th. Wells Fargo & Company cut their price target on Commercial Metals from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, March 27th. JPMorgan Chase & Co. cut 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. The Goldman Sachs Group assumed coverage on Commercial Metals in a report on Wednesday, April 1st. They set a “neutral” rating and a $74.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft upgraded Commercial Metals to a “buy” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Commercial Metals currently has an average rating of “Moderate Buy” and a consensus target price of $74.82.

Check Out Our Latest Report on CMC

Commercial Metals Company Profile

(Free Report)

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.

See Also

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