Union Bancaire Privee UBP SA Buys Shares of 2,842 Commercial Metals (NYSE:CMC)

Union Bancaire Privee UBP SA bought a new position in Commercial Metals (NYSE:CMC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,842 shares of the basic materials company’s stock, valued at approximately $134,000.

Several other institutional investors have also made changes to their positions in CMC. State Street Corp boosted its holdings in Commercial Metals by 0.4% in the third quarter. State Street Corp now owns 5,830,412 shares of the basic materials company’s stock worth $320,439,000 after purchasing an additional 24,665 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Commercial Metals by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock worth $156,093,000 after buying an additional 28,019 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Commercial Metals by 1.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,176,959 shares of the basic materials company’s stock worth $119,646,000 after acquiring an additional 41,206 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Commercial Metals by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock valued at $94,208,000 after acquiring an additional 17,931 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Commercial Metals by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock valued at $80,369,000 after acquiring an additional 18,262 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CMC has been the subject of a number of recent analyst reports. UBS Group raised Commercial Metals from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $56.00 to $54.00 in a research report on Friday, January 10th. Morgan Stanley dropped their target price on shares of Commercial Metals from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Jefferies Financial Group decreased their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. BMO Capital Markets lowered their price target on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group started coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Commercial Metals has an average rating of “Hold” and a consensus target price of $62.33.

Commercial Metals Stock Down 0.1 %

Shares of CMC opened at $50.00 on Wednesday. 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 company has a 50-day simple moving average of $49.97 and a 200-day simple moving average of $53.62. Commercial Metals has a 52 week low of $45.50 and a 52 week high of $64.53. The firm has a market capitalization of $5.68 billion, a P/E ratio of 45.05, a P/E/G ratio of 2.62 and a beta of 1.18.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. The company 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 company’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the company earned $1.49 EPS. On average, equities research 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 was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.44%. Commercial Metals’s dividend payout ratio is currently 64.86%.

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.