Bailard Inc. Purchases Shares of 4,207 Commercial Metals (NYSE:CMC)

Bailard Inc. acquired a new stake in shares of Commercial Metals (NYSE:CMC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,207 shares of the basic materials company’s stock, valued at approximately $209,000.

Several other large investors have also modified their holdings of the stock. Heck Capital Advisors LLC purchased a new stake in shares of Commercial Metals during the fourth quarter valued at $34,000. V Square Quantitative Management LLC raised its holdings in Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after buying an additional 267 shares during the period. GAMMA Investing LLC lifted its stake in Commercial Metals by 56.6% during the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after buying an additional 944 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Commercial Metals in the fourth quarter worth approximately $134,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of 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 valued at $138,000 after acquiring an additional 254 shares during the period. 86.90% of the stock is owned by institutional investors.

Commercial Metals Stock Performance

Shares of CMC stock opened at $47.21 on Thursday. Commercial Metals has a fifty-two week low of $43.81 and a fifty-two week high of $64.53. The stock’s 50-day moving average is $49.73 and its two-hundred day moving average is $53.42. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The firm has a market cap of $5.36 billion, a P/E ratio of 42.53, a PEG ratio of 2.62 and a beta of 1.18.

Commercial Metals (NYSE:CMC) last released 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 firm had revenue of $1.91 billion for 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 firm’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.49 earnings per share. Analysts predict that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Thursday, January 16th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Thursday, January 16th. Commercial Metals’s payout ratio is presently 64.86%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Morgan Stanley decreased their target price on Commercial Metals from $65.00 to $56.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. UBS Group raised Commercial Metals from a “sell” rating to a “neutral” rating and dropped their price target for the company from $56.00 to $54.00 in a research report on Friday, January 10th. Jefferies Financial Group reduced their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, The Goldman Sachs Group started coverage on Commercial Metals in a research note on Monday, December 2nd. They set a “buy” rating and a $75.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $62.33.

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.