Choreo LLC Cuts Holdings in Commercial Metals (NYSE:CMC)

Choreo LLC cut its holdings in shares of Commercial Metals (NYSE:CMC) by 7.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,787 shares of the basic materials company’s stock after selling 884 shares during the period. Choreo LLC’s holdings in Commercial Metals were worth $531,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Heck Capital Advisors LLC acquired a new stake in Commercial Metals in the fourth quarter valued at approximately $34,000. nVerses Capital LLC acquired a new stake in Commercial Metals in the 3rd quarter valued at $66,000. GAMMA Investing LLC increased its holdings in Commercial Metals by 56.6% in the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after acquiring an additional 944 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Commercial Metals in the 4th quarter worth $134,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Commercial Metals by 10.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock valued at $138,000 after purchasing an additional 254 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CMC. The Goldman Sachs Group started coverage on Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price for the company. BMO Capital Markets dropped their target price on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a report on Friday, January 3rd. Morgan Stanley cut their price objective on shares of Commercial Metals from $65.00 to $56.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Jefferies Financial Group reduced their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.33.

Commercial Metals Price Performance

Shares of NYSE CMC opened at $49.88 on Wednesday. The stock’s 50-day simple moving average is $51.68 and its 200-day simple moving average is $53.94. Commercial Metals has a fifty-two week low of $45.50 and a fifty-two week high of $64.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The firm has a market capitalization of $5.67 billion, a PE ratio of 44.94, a price-to-earnings-growth ratio of 2.58 and a beta of 1.18.

Commercial Metals (NYSE:CMC) last posted its earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, meeting the consensus estimate of $0.78. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.49 EPS. As a group, equities research analysts forecast that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.44%. Commercial Metals’s payout ratio is 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.