Wellington Management Group LLP Lowers Stock Holdings in Commercial Metals (NYSE:CMC)

Wellington Management Group LLP cut its holdings in shares of Commercial Metals (NYSE:CMC) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 708,991 shares of the basic materials company’s stock after selling 5,817 shares during the quarter. Wellington Management Group LLP owned about 0.62% of Commercial Metals worth $35,166,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new stake in shares of Commercial Metals in the fourth quarter worth approximately $34,000. V Square Quantitative Management LLC boosted its holdings in shares of Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 267 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 297 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Commercial Metals during the 4th quarter valued at $105,000. Finally, Amundi increased its holdings in shares of Commercial Metals by 29.9% during the 4th quarter. Amundi now owns 2,189 shares of the basic materials company’s stock worth $108,000 after buying an additional 504 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CMC shares. BMO Capital Markets lowered their price target on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research report on Friday, March 21st. UBS Group decreased their target price on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Jefferies Financial Group cut their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley decreased their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Finally, BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $60.33.

Commercial Metals Stock Performance

Commercial Metals stock opened at $40.95 on Monday. Commercial Metals has a 12-month low of $37.92 and a 12-month high of $64.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of 36.89, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. The firm’s fifty day moving average price is $48.07 and its 200 day moving average price is $52.48.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter last year, the company posted $0.88 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, research analysts forecast that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Monday, March 31st. Commercial Metals’s dividend payout ratio is presently 120.00%.

Commercial Metals Profile

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.