Commercial Metals (NYSE:CMC) Stock Holdings Reduced by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its position in Commercial Metals (NYSE:CMC) by 77.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,660 shares of the basic materials company’s stock after selling 79,358 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Commercial Metals were worth $1,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of Commercial Metals by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,081,153 shares of the basic materials company’s stock worth $59,420,000 after acquiring an additional 66,092 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Commercial Metals by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after acquiring an additional 17,931 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Commercial Metals by 66.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 71,151 shares of the basic materials company’s stock worth $3,529,000 after acquiring an additional 28,297 shares in the last quarter. Vestcor Inc lifted its position in shares of Commercial Metals by 108.0% during the 3rd quarter. Vestcor Inc now owns 18,103 shares of the basic materials company’s stock worth $995,000 after purchasing an additional 9,400 shares during the last quarter. Finally, Covea Finance lifted its position in shares of Commercial Metals by 44.2% during the 4th quarter. Covea Finance now owns 62,000 shares of the basic materials company’s stock worth $3,075,000 after purchasing an additional 19,000 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. UBS Group raised Commercial Metals from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $56.00 to $54.00 in a research report on Friday, January 10th. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Jefferies Financial Group cut their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group began coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective for the company. Finally, Morgan Stanley cut their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Commercial Metals has an average rating of “Hold” and a consensus price target of $61.83.

Commercial Metals Trading Up 1.0 %

Commercial Metals stock opened at $47.34 on Friday. Commercial Metals has a 12 month low of $42.62 and a 12 month high of $64.53. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 42.65, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The business has a 50 day moving average price of $48.87 and a two-hundred day moving average price of $52.77. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data 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 net margin of 1.70% and a return on equity of 9.88%. The company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, equities analysts forecast that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be paid a $0.18 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.52%. Commercial Metals’s dividend payout ratio is currently 64.86%.

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.