Boston Partners Sells 449,753 Shares of Commercial Metals Company $CMC

Key Points

• Boston Partners has reduced its stake in Commercial Metals Company (CMC) by 11.1%, owning approximately 3.19% of the company, worth about $165.85 million as of the latest SEC filing.
• Commercial Metals reported earnings per share (EPS) of $0.74 for the last quarter, falling short of analysts' expectations, and its revenue declined 2.8% year-over-year to $2.02 billion.
• The company recently announced a $0.18 quarterly dividend, reflecting a payout ratio of 232.26% and an annual yield of 1.2%.

Boston Partners cut its stake in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 11.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,605,397 shares of the basic materials company's stock after selling 449,753 shares during the period. Boston Partners owned about 3.19% of Commercial Metals worth $165,854,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. National Bank of Canada FI lifted its position in shares of Commercial Metals by 80.3% during the first quarter. National Bank of Canada FI now owns 548 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 244 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Commercial Metals in the 4th quarter worth about $33,000. Heck Capital Advisors LLC purchased a new stake in Commercial Metals in the 4th quarter valued at about $34,000. UMB Bank n.a. lifted its position in shares of Commercial Metals by 51.9% during the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company's stock worth $36,000 after buying an additional 268 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of Commercial Metals in the 1st quarter worth approximately $47,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on CMC shares. Morgan Stanley set a $57.50 price target on Commercial Metals in a research report on Wednesday, June 25th. Wells Fargo & Company raised Commercial Metals to a "strong-buy" rating in a research report on Thursday. Wolfe Research upgraded Commercial Metals from a "peer perform" rating to an "outperform" rating in a research note on Friday, June 20th. Jefferies Financial Group restated a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. Finally, BMO Capital Markets restated a "market perform" rating and set a $55.00 price objective (down previously from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.81.

Commercial Metals Stock Performance

Commercial Metals stock traded up $0.55 during midday trading on Monday, reaching $56.86. The stock had a trading volume of 975,289 shares, compared to its average volume of 1,106,384. The firm has a market capitalization of $6.36 billion, a PE ratio of 183.42, a P/E/G ratio of 2.60 and a beta of 1.28. Commercial Metals Company has a 12 month low of $37.92 and a 12 month high of $64.53. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32. The firm's 50-day moving average price is $51.66 and its 200 day moving average price is $48.36.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.11). The business had revenue of $2.02 billion during the quarter, compared to analysts' expectations of $2.04 billion. Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%. Commercial Metals's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.02 EPS. As a group, research analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, June 30th. Commercial Metals's dividend payout ratio (DPR) is presently 232.26%.

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.