Commercial Metals (NYSE:CMC) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its position in Commercial Metals (NYSE:CMC) by 6.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,647 shares of the basic materials company’s stock after selling 1,202 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Commercial Metals were worth $915,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC lifted its stake in shares of Commercial Metals by 193.1% in the fourth quarter. First Eagle Investment Management LLC now owns 154,329 shares of the basic materials company’s stock worth $7,723,000 after acquiring an additional 101,675 shares in the last quarter. Cim LLC acquired a new position in shares of Commercial Metals in the 4th quarter valued at approximately $2,120,000. Russell Investments Group Ltd. boosted its stake in shares of Commercial Metals by 11.7% during the 1st quarter. Russell Investments Group Ltd. now owns 198,675 shares of the basic materials company’s stock valued at $11,676,000 after buying an additional 20,751 shares during the last quarter. Boston Partners grew its position in shares of Commercial Metals by 23,390.7% during the first quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock worth $180,752,000 after buying an additional 3,063,241 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Commercial Metals by 61.9% in the first quarter. BNP Paribas Financial Markets now owns 67,054 shares of the basic materials company’s stock worth $3,941,000 after buying an additional 25,642 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Trading Up 2.0 %

Commercial Metals stock opened at $49.64 on Friday. Commercial Metals has a 1 year low of $39.85 and a 1 year high of $61.26. The firm’s 50-day moving average is $54.29 and its 200-day moving average is $54.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.83 and a current ratio of 4.24. The company has a market cap of $5.71 billion, a P/E ratio of 10.34 and a beta of 1.15.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, June 20th. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.02. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Commercial Metals had a net margin of 6.95% and a return on equity of 14.62%. Commercial Metals’s revenue was down 11.4% on a year-over-year basis. During the same quarter last year, the company posted $2.02 earnings per share. On average, equities analysts expect that Commercial Metals will post 4.33 earnings per share for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Monday, July 1st were paid a dividend of $0.18 per share. The ex-dividend date was Monday, July 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.45%. Commercial Metals’s payout ratio is currently 15.00%.

Wall Street Analysts Forecast Growth

CMC has been the subject of several recent analyst reports. Jefferies Financial Group assumed coverage on shares of Commercial Metals in a report on Tuesday, September 3rd. They set a “buy” rating and a $65.00 price objective for the company. StockNews.com downgraded Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. Finally, Bank of America cut their price objective on Commercial Metals from $70.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Commercial Metals currently has an average rating of “Moderate Buy” and an average target price of $61.40.

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.