Commercial Metals Company $CMC Shares Sold by William Blair Investment Management LLC

by · The Cerbat Gem

William Blair Investment Management LLC reduced its position in shares of Commercial Metals Company (NYSE:CMC – Free Report) by 9.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 516,792 shares of the basic materials company’s stock after selling 54,039 shares during the period. William Blair Investment Management LLC’s holdings in Commercial Metals were worth $35,772,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its position 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 valued at $359,167,000 after acquiring an additional 161,195 shares in the last quarter. Boston Partners raised its position in shares of Commercial Metals by 1.9% during the 3rd quarter. Boston Partners now owns 3,641,930 shares of the basic materials company’s stock valued at $208,629,000 after acquiring an additional 67,139 shares in the last quarter. American Century Companies Inc. raised its position in shares of Commercial Metals by 6.6% during 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 acquiring an additional 112,267 shares in the last quarter. Invesco Ltd. raised its position in shares of Commercial Metals by 4.8% during the 3rd quarter. Invesco Ltd. now owns 1,661,027 shares of the basic materials company’s stock valued at $95,144,000 after acquiring an additional 76,365 shares in the last quarter. Finally, UBS Group AG raised its position in shares of Commercial Metals by 41.8% during 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 acquiring an additional 448,083 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. KeyCorp assumed coverage on Commercial Metals in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Wall Street Zen downgraded Commercial Metals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. JPMorgan Chase & Co. lowered their price objective on Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. Wells Fargo & Company lowered their price objective on Commercial Metals from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, March 27th. Finally, Zacks Research downgraded Commercial Metals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. One research 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. Based on data from MarketBeat, Commercial Metals has a consensus rating of “Moderate Buy” and an average target price of $74.82.

Get Our Latest Stock Report on Commercial Metals

Commercial Metals Price Performance

Shares of CMC opened at $71.87 on Monday. The company 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. The stock has a fifty day moving average price of $65.93 and a 200 day moving average price of $68.91. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.38 and a quick ratio of 1.55. Commercial Metals Company has a 12 month low of $45.50 and a 12 month high of $84.87.

Commercial Metals (NYSE:CMC – Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $2.10 billion. Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.Commercial Metals’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 earnings per share. On average, research analysts forecast that Commercial Metals Company will post 6.51 earnings per share for the current year.

Commercial Metals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, April 6th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, April 6th. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. Commercial Metals’s dividend payout ratio (DPR) is currently 16.04%.

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.

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