Wellington Management Group LLP Acquires 13,073 Shares of Commercial Metals (NYSE:CMC)

Wellington Management Group LLP raised its holdings in Commercial Metals (NYSE:CMC) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 310,681 shares of the basic materials company’s stock after buying an additional 13,073 shares during the period. Wellington Management Group LLP owned 0.27% of Commercial Metals worth $15,546,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CMC. SummerHaven Investment Management LLC lifted its stake in Commercial Metals by 1.8% in the fourth quarter. SummerHaven Investment Management LLC now owns 13,154 shares of the basic materials company’s stock valued at $658,000 after acquiring an additional 228 shares during the last quarter. Congress Asset Management Co. MA grew its holdings in Commercial Metals by 0.4% during the fourth quarter. Congress Asset Management Co. MA now owns 67,943 shares of the basic materials company’s stock worth $3,400,000 after purchasing an additional 251 shares during the period. Diversified Trust Co increased its position in Commercial Metals by 1.2% during the third quarter. Diversified Trust Co now owns 23,810 shares of the basic materials company’s stock worth $1,176,000 after buying an additional 292 shares during the last quarter. AlphaMark Advisors LLC raised its stake in Commercial Metals by 7.4% in the fourth quarter. AlphaMark Advisors LLC now owns 5,087 shares of the basic materials company’s stock valued at $255,000 after buying an additional 352 shares during the period. Finally, Great Lakes Advisors LLC lifted its position in shares of Commercial Metals by 9.4% in the fourth quarter. Great Lakes Advisors LLC now owns 6,846 shares of the basic materials company’s stock valued at $343,000 after buying an additional 586 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CMC. Bank of America decreased their target price on Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Finally, BMO Capital Markets lifted their target price on shares of Commercial Metals from $52.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $60.50.

Commercial Metals Stock Up 0.1 %

CMC stock opened at $53.77 on Thursday. Commercial Metals has a fifty-two week low of $39.85 and a fifty-two week high of $59.81. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.24 and a quick ratio of 2.83. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 11.20 and a beta of 1.27. The business’s fifty day moving average price is $54.63 and its two-hundred day moving average price is $53.51.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, June 20th. The basic materials company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.02. Commercial Metals had a net margin of 6.95% and a return on equity of 14.62%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the previous year, the company earned $2.02 EPS. The business’s revenue was down 11.4% on a year-over-year basis. On average, equities analysts anticipate that Commercial Metals will post 4.85 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Monday, July 1st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date is Monday, July 1st. Commercial Metals’s dividend payout ratio is currently 15.00%.

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.