Green Alpha Advisors LLC Sells 1,398 Shares of Commercial Metals (NYSE:CMC)

Green Alpha Advisors LLC trimmed its position in Commercial Metals (NYSE:CMC) by 6.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 19,700 shares of the basic materials company’s stock after selling 1,398 shares during the period. Green Alpha Advisors LLC’s holdings in Commercial Metals were worth $977,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. nVerses Capital LLC bought a new position in Commercial Metals in the third quarter valued at about $66,000. GAMMA Investing LLC increased its stake in shares of Commercial Metals by 56.6% in the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after buying an additional 944 shares during the period. KBC Group NV raised its holdings in Commercial Metals by 15.9% in the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock valued at $170,000 after buying an additional 425 shares during the last quarter. Highland Capital Management LLC acquired a new stake in Commercial Metals during the 3rd quarter worth approximately $206,000. Finally, Harbor Capital Advisors Inc. grew its holdings in Commercial Metals by 29.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,798 shares of the basic materials company’s stock worth $209,000 after acquiring an additional 870 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Down 1.2 %

Shares of Commercial Metals stock opened at $47.02 on Monday. The stock’s 50-day moving average is $56.46 and its 200 day moving average is $54.83. Commercial Metals has a one year low of $45.50 and a one year high of $64.53. The firm has a market cap of $5.34 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 2.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.94 and a quick ratio of 2.78.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.78. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the prior year, the business earned $1.49 EPS. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. Equities research analysts anticipate that Commercial Metals will post 4.26 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Thursday, January 16th. Commercial Metals’s dividend payout ratio (DPR) is 64.86%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. BMO Capital Markets dropped their price target on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research note on Friday, January 3rd. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Wolfe Research lowered Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. UBS Group upgraded 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 research report on Friday. Finally, Morgan Stanley started coverage on Commercial Metals in a research note on Thursday, December 19th. They issued an “equal weight” rating and a $65.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $63.83.

About Commercial Metals

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.