Commercial Metals (NYSE:CMC) Shares Purchased by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Commercial Metals (NYSE:CMC) by 10.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,784 shares of the basic materials company’s stock after buying an additional 254 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Commercial Metals were worth $138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. boosted its position in shares of Commercial Metals by 122.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company’s stock worth $68,455,000 after acquiring an additional 686,519 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its holdings in shares of Commercial Metals by 58.0% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,440,531 shares of the basic materials company’s stock valued at $79,172,000 after purchasing an additional 528,876 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Commercial Metals during the 3rd quarter valued at $16,731,000. Van ECK Associates Corp grew its stake in shares of Commercial Metals by 204.3% during the 3rd quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company’s stock valued at $21,570,000 after buying an additional 282,511 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Commercial Metals by 17.5% in the 2nd quarter. AQR Capital Management LLC now owns 774,218 shares of the basic materials company’s stock worth $42,203,000 after buying an additional 115,326 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. BMO Capital Markets dropped their price target on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research note on Friday, January 3rd. UBS Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $56.00 to $54.00 in a research report on Friday, January 10th. 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. BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group began coverage on shares of Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price on the stock. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Commercial Metals presently has an average rating of “Hold” and a consensus target price of $63.83.

Commercial Metals Price Performance

Shares of CMC stock opened at $50.90 on Friday. The firm has a fifty day simple moving average of $56.00 and a 200-day simple moving average of $54.73. The company has a market capitalization of $5.78 billion, a PE ratio of 45.86, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. Commercial Metals has a twelve month low of $45.50 and a twelve month high of $64.53. The company has a current ratio of 2.76, a quick ratio of 2.78 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC) last announced 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. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm earned $1.49 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. Equities research analysts anticipate that Commercial Metals will post 3.47 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, January 16th. This represents a $0.72 annualized dividend and a yield of 1.41%. Commercial Metals’s dividend payout ratio is presently 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.