2 weeks Ago By ABMN Staff
Bank of Montreal Can lifted its holdings in shares of Commercial Metals ( NYSE:CMC – Free Report ) by 9.5% during the fourth quarter, HoldingsChannel reports. The firm owned 15,801 shares of the basic materials company’s stock after acquiring an additional 1,369 shares during the quarter.
Bank of Montreal Can’s holdings in Commercial Metals were worth $784,000 as of its most recent SEC filing. Several other institutional investors have also modified their holdings of CMC. Heck Capital Advisors LLC bought a new stake in Commercial Metals during the 4th quarter worth approximately $34,000.
V Square Quantitative Management LLC boosted its holdings in shares of Commercial Metals by 60.7% in the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after buying an additional 267 shares during the period.
Jones Financial Companies Lllp increased its position in shares of Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 297 shares in the last quarter.
New Age Alpha Advisors LLC acquired a new stake in shares of Commercial Metals during the fourth quarter worth $105,000. Finally, Amundi lifted its position in Commercial Metals by 29.9% in the 4th quarter.
Amundi now owns 2,189 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 504 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.
Wall Street Analyst Weigh In A number of equities analysts have issued reports on CMC shares. BMO Capital Markets lowered their target price on Commercial Metals from $58.00 to $54.
00 and set a “market perform” rating for the company in a report on Friday, March 21st. UBS Group decreased their price objective 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 target price on Commercial Metals from $65.00 to $62.
00 and set a “buy” rating on the stock in a research note on Monday, January 6th. BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Finally, Morgan Stanley cut their price objective on shares of 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 investment 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 has a consensus rating of “Hold” and an average target price of $60.33.
Commercial Metals Stock Performance NYSE CMC opened at $42.32 on Friday. The firm’s fifty day moving average price is $46.
23 and its two-hundred day moving average price is $51.46. Commercial Metals has a 1 year low of $37.
92 and a 1 year high of $64.53. The firm has a market capitalization of $4.
78 billion, a P/E ratio of 38.13, a price-to-earnings-growth ratio of 2.62 and a beta of 1.
16. The company has a current ratio of 2.76, a quick ratio of 1.
94 and a debt-to-equity ratio of 0.29. Commercial Metals ( NYSE:CMC – Get Free Report ) last posted its quarterly earnings results on Thursday, March 20th.
The basic materials company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.
05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.
70%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.
73 billion. During the same quarter in the previous year, the business posted $0.88 EPS.
The company’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, research analysts anticipate that Commercial Metals will post 3.
09 EPS for the current year. Commercial Metals Announces Dividend The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were issued a $0.
18 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.
72 annualized dividend and a dividend yield of 1.70%. Commercial Metals’s dividend payout ratio is currently 120.
00%. Insider Activity In related news, Director John R. Mcpherson purchased 2,475 shares of the stock in a transaction on Friday, April 4th.
The shares were purchased at an average cost of $40.42 per share, with a total value of $100,039.50.
Following the acquisition, the director now directly owns 15,141 shares in the company, valued at $611,999.22. The trade was a 19.
54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link . Insiders own 0.
46% of the company’s stock. Commercial Metals Profile ( Free Report ) 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. Recommended Stories Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals ( NYSE:CMC – Free Report ).
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