Headlands Technologies LLC Raises Stock Holdings in Commercial Metals (NYSE:CMC)

Headlands Technologies LLC increased its stake in Commercial Metals (NYSE:CMC) by 1,118.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,472 shares of the basic materials company’s stock after purchasing an additional 4,105 shares during the period. Headlands Technologies LLC’s holdings in Commercial Metals were worth $222,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its stake in Commercial Metals by 0.4% in the 3rd quarter. State Street Corp now owns 5,830,412 shares of the basic materials company’s stock worth $320,439,000 after buying an additional 24,665 shares in the last quarter. Boston Partners grew its position in Commercial Metals by 6.4% in the fourth quarter. Boston Partners now owns 4,055,150 shares of the basic materials company’s stock worth $201,178,000 after acquiring an additional 243,921 shares in the last quarter. Geode Capital Management LLC increased its stake in Commercial Metals by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock valued at $156,093,000 after acquiring an additional 28,019 shares during the last quarter. Victory Capital Management Inc. increased its stake in Commercial Metals by 11.3% in the fourth quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company’s stock valued at $120,152,000 after acquiring an additional 245,468 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Commercial Metals by 87.0% during the fourth quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company’s stock valued at $95,204,000 after purchasing an additional 893,094 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Trading Down 1.6 %

NYSE:CMC opened at $40.95 on Friday. The firm has a market capitalization of $4.63 billion, a P/E ratio of 36.89, a P/E/G ratio of 2.62 and a beta of 1.17. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average of $48.07 and a 200 day moving average of $52.46. Commercial Metals has a 52 week low of $37.92 and a 52 week high of $64.53.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data 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). The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period last year, the company posted $0.88 earnings per share. On average, research analysts predict that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be given a $0.18 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.76%. Commercial Metals’s dividend payout ratio is currently 120.00%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CMC. Morgan Stanley cut their price objective on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Jefferies Financial Group cut their target price 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. UBS Group decreased their price target on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Finally, BMO Capital Markets decreased their target price on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research report on Friday, March 21st. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $60.33.

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.