Natixis Advisors LLC Has $1.13 Million Stake in Commercial Metals (NYSE:CMC)

Natixis Advisors LLC reduced its position in Commercial Metals (NYSE:CMC) by 8.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,461 shares of the basic materials company’s stock after selling 1,833 shares during the quarter. Natixis Advisors LLC’s holdings in Commercial Metals were worth $1,125,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CMC. Vanguard Group Inc. boosted its position in shares of Commercial Metals by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,641,427 shares of the basic materials company’s stock valued at $632,577,000 after acquiring an additional 191,345 shares in the last quarter. Boston Partners grew its stake in shares of Commercial Metals by 23,390.7% in the 1st quarter. Boston Partners now owns 3,076,337 shares of the basic materials company’s stock valued at $180,752,000 after purchasing an additional 3,063,241 shares during the period. Norges Bank acquired a new position in shares of Commercial Metals in the 4th quarter worth approximately $94,722,000. Principal Financial Group Inc. lifted its position in shares of Commercial Metals by 4.5% during the 1st quarter. Principal Financial Group Inc. now owns 1,774,666 shares of the basic materials company’s stock worth $104,297,000 after buying an additional 76,742 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Commercial Metals by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,416,800 shares of the basic materials company’s stock valued at $70,897,000 after buying an additional 31,365 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

Commercial Metals Trading Down 0.9 %

NYSE CMC opened at $48.68 on Thursday. The company has a current ratio of 4.24, a quick ratio of 2.83 and a debt-to-equity ratio of 0.27. Commercial Metals has a 12 month low of $39.85 and a 12 month high of $61.26. The company has a market capitalization of $5.60 billion, a PE ratio of 10.14 and a beta of 1.15. The stock has a 50-day simple moving average of $54.36 and a 200 day simple moving average of $54.79.

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

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Stockholders of record on Monday, July 1st were given 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 dividend yield of 1.48%. Commercial Metals’s dividend payout ratio is 15.00%.

Commercial Metals 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.