HighTower Advisors LLC Buys 42,840 Shares of Commercial Metals (NYSE:CMC)

HighTower Advisors LLC raised its stake in Commercial Metals (NYSE:CMC) by 269.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,768 shares of the basic materials company’s stock after acquiring an additional 42,840 shares during the period. HighTower Advisors LLC owned about 0.05% of Commercial Metals worth $2,915,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CMC. Atria Investments Inc bought a new stake in shares of Commercial Metals during the third quarter worth $290,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Commercial Metals during the third quarter worth $1,008,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Commercial Metals during the third quarter worth $5,662,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Commercial Metals by 11.2% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 244,376 shares of the basic materials company’s stock worth $13,431,000 after purchasing an additional 24,606 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Commercial Metals by 87.8% during the third quarter. Intech Investment Management LLC now owns 36,392 shares of the basic materials company’s stock worth $2,000,000 after purchasing an additional 17,010 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Morgan Stanley decreased their target price on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. The Goldman Sachs Group started coverage on Commercial Metals in a report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target on the stock. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Jefferies Financial Group decreased their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and decreased their price target for the company from $56.00 to $54.00 in a report on Friday, January 10th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Commercial Metals presently has an average rating of “Hold” and a consensus target price of $61.17.

Commercial Metals Trading Down 1.5 %

NYSE:CMC opened at $46.67 on Friday. Commercial Metals has a 1-year low of $42.62 and a 1-year high of $64.53. The business’s 50-day moving average price is $48.86 and its two-hundred day moving average price is $52.72. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 42.04, a PEG ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last released its 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 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 analyst estimates of $1.73 billion. During the same period in the previous year, the company posted $0.88 EPS. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. On average, equities analysts expect that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Monday, March 31st. 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.