Union Bancaire Privee UBP SA Invests $134,000 in Commercial Metals (NYSE:CMC)

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

Several other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in shares of Commercial Metals by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 1,081,153 shares of the basic materials company’s stock valued at $59,420,000 after buying an additional 66,092 shares in the last quarter. Principal Financial Group Inc. grew its position in Commercial Metals by 1.1% in 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 in the last quarter. Assenagon Asset Management S.A. increased its stake in Commercial Metals by 66.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 71,151 shares of the basic materials company’s stock worth $3,529,000 after purchasing an additional 28,297 shares during the period. Vestcor Inc lifted its position in shares of Commercial Metals by 108.0% during the third quarter. Vestcor Inc now owns 18,103 shares of the basic materials company’s stock worth $995,000 after purchasing an additional 9,400 shares in the last quarter. Finally, Covea Finance boosted its stake in shares of Commercial Metals by 44.2% in the fourth quarter. Covea Finance now owns 62,000 shares of the basic materials company’s stock valued at $3,075,000 after purchasing an additional 19,000 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Down 0.9 %

CMC stock opened at $49.89 on Thursday. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $53.97 and its two-hundred day moving average is $54.54. The stock has a market cap of $5.67 billion, a P/E ratio of 44.95, a PEG ratio of 2.59 and a beta of 1.19. Commercial Metals has a twelve month low of $45.50 and a twelve month high of $64.53.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the company posted $1.49 earnings per share. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. Research analysts expect that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Thursday, January 16th. Commercial Metals’s dividend payout ratio is currently 64.86%.

Wall Street Analysts Forecast Growth

CMC has been the topic of several recent research reports. BMO Capital Markets cut their target price on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, January 3rd. Wolfe Research cut Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. Morgan Stanley started coverage on Commercial Metals in a research note on Thursday, December 19th. They set an “equal weight” rating and a $65.00 target price for the company. The Goldman Sachs Group initiated coverage on Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target on the stock. Finally, 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. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Commercial Metals has an average rating of “Hold” and a consensus price target of $63.83.

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.