Nordea Investment Management AB Increases Stake in Commercial Metals (NYSE:CMC)

Nordea Investment Management AB increased its holdings in Commercial Metals (NYSE:CMC) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 248,166 shares of the basic materials company’s stock after acquiring an additional 8,226 shares during the quarter. Nordea Investment Management AB’s holdings in Commercial Metals were worth $12,381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Commercial Metals by 56.6% in the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 944 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in 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 worth $59,420,000 after purchasing an additional 66,092 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Commercial Metals by 1.1% in the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after purchasing an additional 17,931 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Commercial Metals by 0.3% during the third quarter. Franklin Resources Inc. now owns 1,026,351 shares of the basic materials company’s stock valued at $55,433,000 after buying an additional 3,396 shares during the last quarter. Finally, Sanctuary Advisors LLC boosted its holdings in shares of Commercial Metals by 25.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 10,610 shares of the basic materials company’s stock valued at $583,000 after buying an additional 2,156 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Trading Down 2.5 %

Shares of Commercial Metals stock opened at $47.65 on Thursday. Commercial Metals has a fifty-two week low of $47.41 and a fifty-two week high of $64.53. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. The company has a market cap of $5.43 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 2.74 and a beta of 1.19. The firm has a 50-day simple moving average of $56.73 and a two-hundred day simple moving average of $54.92.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.78. The company 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 12.20% and a net margin of 6.13%. Commercial Metals’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.49 earnings per share. As a group, equities analysts predict that Commercial Metals will post 4.26 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, January 16th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, January 16th. Commercial Metals’s payout ratio is presently 17.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Jefferies Financial Group decreased their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday. BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. BMO Capital Markets dropped their price target on 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 lowered shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley began coverage on shares of Commercial Metals in a report on Thursday, December 19th. They issued an “equal weight” rating and a $65.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.17.

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.