Swiss National Bank Increases Stake in Commercial Metals (NYSE:CMC)

Swiss National Bank grew its stake in Commercial Metals (NYSE:CMC) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 226,200 shares of the basic materials company’s stock after buying an additional 1,600 shares during the quarter. Swiss National Bank’s holdings in Commercial Metals were worth $11,220,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heck Capital Advisors LLC purchased a new position in shares of Commercial Metals in the 4th quarter valued at about $34,000. V Square Quantitative Management LLC boosted its stake in shares of Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after buying an additional 267 shares during the period. Jones Financial Companies Lllp raised its position in shares of Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 297 shares in the last quarter. Amundi raised its position in shares of Commercial Metals by 29.9% during the 4th quarter. Amundi now owns 2,189 shares of the basic materials company’s stock worth $108,000 after acquiring an additional 504 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Commercial Metals by 56.6% during the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after acquiring an additional 944 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of NYSE CMC opened at $47.34 on Friday. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. Commercial Metals has a twelve month low of $42.62 and a twelve month high of $64.53. The stock has a 50 day moving average of $48.87 and a two-hundred day moving average of $52.77. The stock has a market cap of $5.38 billion, a P/E ratio of 42.65, a P/E/G ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company earned $0.88 EPS. Commercial Metals’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, research analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Monday, March 31st. Commercial Metals’s dividend payout ratio (DPR) is presently 64.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CMC shares. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. BMO Capital Markets cut their target price on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research report on Friday, January 3rd. The Goldman Sachs Group started coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 target price on the stock. UBS Group raised 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. Finally, Jefferies Financial Group reduced their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Six 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 stock presently has an average rating of “Hold” and an average price target of $61.83.

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.