Natixis Advisors LLC Decreases Stake in Commercial Metals (NYSE:CMC)

Natixis Advisors LLC trimmed its position in shares of Commercial Metals (NYSE:CMC) by 4.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 18,914 shares of the basic materials company’s stock after selling 949 shares during the quarter. Natixis Advisors LLC’s holdings in Commercial Metals were worth $938,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Commercial Metals by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company’s stock worth $80,369,000 after acquiring an additional 18,262 shares in the last quarter. Citigroup Inc. increased its stake in Commercial Metals by 99.0% in the third quarter. Citigroup Inc. now owns 123,506 shares of the basic materials company’s stock valued at $6,788,000 after purchasing an additional 61,447 shares during the last quarter. Cerity Partners LLC raised its holdings in Commercial Metals by 37.8% during the third quarter. Cerity Partners LLC now owns 38,990 shares of the basic materials company’s stock worth $2,143,000 after purchasing an additional 10,693 shares in the last quarter. Qsemble Capital Management LP lifted its position in shares of Commercial Metals by 20.9% during the 3rd quarter. Qsemble Capital Management LP now owns 8,973 shares of the basic materials company’s stock worth $493,000 after buying an additional 1,549 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Commercial Metals in the 3rd quarter valued at $342,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Trading Up 0.6 %

NYSE:CMC opened at $48.83 on Thursday. Commercial Metals has a 12-month low of $42.62 and a 12-month high of $64.53. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The stock’s 50 day simple moving average is $48.81 and its 200-day simple moving average is $52.71. The firm has a market cap of $5.55 billion, a P/E ratio of 43.99, a PEG ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the firm posted $0.88 earnings per share. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. Equities analysts anticipate that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Monday, March 31st will be given a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.47%. Commercial Metals’s payout ratio is currently 120.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CMC shares. Jefferies Financial Group cut their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. BMO Capital Markets reduced their target price on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a report on Friday, March 21st. UBS Group dropped their price target on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday. The Goldman Sachs Group assumed coverage on Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 price objective for the company. Finally, BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.33.

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.