Commercial Metals (NYSE:CMC) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC cut its position in Commercial Metals (NYSE:CMC) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,914 shares of the basic materials company’s stock after selling 949 shares during the period. Natixis Advisors LLC’s holdings in Commercial Metals were worth $938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CMC. Ashton Thomas Private Wealth LLC lifted its stake in Commercial Metals by 5.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,528 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 229 shares in the last quarter. Truist Financial Corp lifted its position in Commercial Metals by 3.5% during the fourth quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company’s stock worth $355,000 after buying an additional 242 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Commercial Metals by 10.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock worth $138,000 after buying an additional 254 shares during the last quarter. Arizona State Retirement System boosted its stake in Commercial Metals by 0.8% during the fourth quarter. Arizona State Retirement System now owns 33,373 shares of the basic materials company’s stock worth $1,655,000 after buying an additional 262 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its stake 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 worth $35,000 after acquiring an additional 267 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Stock Up 0.6 %

NYSE:CMC opened at $48.83 on Thursday. Commercial Metals has a 52 week low of $42.62 and a 52 week high of $64.53. The stock’s fifty day moving average is $48.81 and its two-hundred day moving average is $52.71. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 43.99, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. 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 posted its earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. Research analysts anticipate that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors 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 dividend yield of 1.47%. The ex-dividend date is Monday, March 31st. Commercial Metals’s dividend payout ratio (DPR) is currently 120.00%.

Analyst Ratings Changes

CMC has been the topic of several recent research reports. The Goldman Sachs Group started coverage on shares of Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price target on the stock. BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. UBS Group reduced their price target on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday. Jefferies Financial Group lowered 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. Finally, Morgan Stanley reduced their target price on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Commercial Metals presently has an average rating of “Hold” and an average price target of $60.33.

Commercial Metals Company 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.