Inspire Investing LLC Has $399,000 Stock Position in Commercial Metals (NYSE:CMC)

Inspire Investing LLC increased its holdings in shares of Commercial Metals (NYSE:CMC) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,054 shares of the basic materials company’s stock after buying an additional 558 shares during the quarter. Inspire Investing LLC’s holdings in Commercial Metals were worth $399,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 66,092 shares during the last quarter. Principal Financial Group Inc. increased its position in Commercial Metals by 1.1% during the 3rd 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. Vestcor Inc lifted its stake in 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 last quarter. Covea Finance lifted its stake in Commercial Metals by 44.2% in the 4th quarter. Covea Finance now owns 62,000 shares of the basic materials company’s stock valued at $3,075,000 after purchasing an additional 19,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Commercial Metals by 66.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 71,151 shares of the basic materials company’s stock valued at $3,529,000 after buying an additional 28,297 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMC has been the subject of a number of research reports. Morgan Stanley initiated coverage on Commercial Metals in a research note on Thursday, December 19th. They issued an “equal weight” rating and a $65.00 price target for the company. The Goldman Sachs Group started coverage on Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 price target on the stock. UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and cut their target price for the stock from $56.00 to $54.00 in a research report on Friday, January 10th. BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Finally, BMO Capital Markets cut their price target on shares of Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $63.83.

Commercial Metals Trading Down 0.5 %

CMC opened at $49.66 on Tuesday. The stock has a market cap of $5.64 billion, a PE ratio of 44.74, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. Commercial Metals has a twelve month low of $45.50 and a twelve month high of $64.53. The company has a fifty day moving average of $54.35 and a 200-day moving average of $54.61.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, hitting the consensus estimate of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the company posted $1.49 EPS. The business’s quarterly revenue was down 4.7% on a year-over-year basis. On average, sell-side analysts predict that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Thursday, January 16th. Commercial Metals’s payout ratio is 64.86%.

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.