Commercial Metals (NYSE:CMC) Shares Bought by Fulton Bank N.A.

Fulton Bank N.A. lifted its stake in shares of Commercial Metals (NYSE:CMC) by 36.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 7,635 shares of the basic materials company’s stock after acquiring an additional 2,032 shares during the quarter. Fulton Bank N.A.’s holdings in Commercial Metals were worth $379,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CMC. JPMorgan Chase & Co. boosted its stake 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 valued at $59,420,000 after acquiring an additional 66,092 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of 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 purchasing an additional 17,931 shares during the period. Vestcor Inc boosted its position in shares of Commercial Metals by 108.0% in the 3rd quarter. Vestcor Inc now owns 18,103 shares of the basic materials company’s stock valued at $995,000 after purchasing an additional 9,400 shares during the period. Seizert Capital Partners LLC increased its position in Commercial Metals by 32.5% during the third quarter. Seizert Capital Partners LLC now owns 75,873 shares of the basic materials company’s stock worth $4,170,000 after buying an additional 18,600 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Commercial Metals by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock worth $80,369,000 after buying an additional 18,262 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Performance

NYSE CMC opened at $47.02 on Friday. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 2.74 and a beta of 1.19. The business’s 50 day moving average is $56.61 and its two-hundred day moving average is $54.87. Commercial Metals has a 12-month low of $45.50 and a 12-month high of $64.53. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27.

Commercial Metals (NYSE:CMC) last released 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 12.20% and a net margin of 6.13%. The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the business posted $1.49 earnings per share. Commercial Metals’s revenue was down 4.7% compared to the same quarter last year. Research analysts expect that Commercial Metals will post 4.26 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, January 16th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Thursday, January 16th. Commercial Metals’s dividend payout ratio (DPR) is 17.39%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CMC. BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 price objective on the stock. BMO Capital Markets decreased their target price on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research note on Friday, January 3rd. Jefferies Financial Group dropped their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, UBS Group raised Commercial Metals from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $56.00 to $54.00 in a research report on Friday. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.