Commercial Metals Company $CMC Position Cut by Thompson Siegel & Walmsley LLC

Key Points

• Thompson Siegel & Walmsley LLC cut its Commercial Metals stake by 42.7% in the fourth quarter, selling 565,153 shares and leaving it with 758,872 shares valued at about $52.5 million.
• Commercial Metals reported quarterly earnings of $1.16 per share, missing analyst estimates, while revenue came in at $2.13 billion and rose 21.5% year over year.
• The company raised its quarterly dividend to $0.20 per share from $0.18, and analysts currently rate the stock a Moderate Buy with a consensus price target of $77.10.

Thompson Siegel & Walmsley LLC reduced its holdings in Commercial Metals Company (NYSE:CMC - Free Report) by 42.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 758,872 shares of the basic materials company's stock after selling 565,153 shares during the quarter. Thompson Siegel & Walmsley LLC owned 0.68% of Commercial Metals worth $52,529,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Rothschild Investment LLC grew its stake in shares of Commercial Metals by 169.6% in the third quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company's stock worth $29,000 after purchasing an additional 324 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of Commercial Metals by 110.7% during the fourth quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company's stock valued at $40,000 after purchasing an additional 301 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Commercial Metals in the fourth quarter worth about $54,000. Aster Capital Management DIFC Ltd bought a new position in Commercial Metals in the 3rd quarter valued at about $73,000. Finally, EverSource Wealth Advisors LLC grew its position in Commercial Metals by 84.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,550 shares of the basic materials company's stock valued at $76,000 after buying an additional 708 shares in the last quarter. Institutional investors own 86.90% of the company's stock.

Commercial Metals Stock Up 0.2%

NYSE CMC opened at $76.21 on Monday. Commercial Metals Company has a 12 month low of $45.50 and a 12 month high of $84.87. The company has a market capitalization of $8.45 billion, a P/E ratio of 16.97, a PEG ratio of 0.45 and a beta of 1.50. The company's 50 day simple moving average is $67.27 and its 200 day simple moving average is $69.51. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.38 and a quick ratio of 1.55.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings data on Thursday, March 26th. The basic materials company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.12). The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.10 billion. Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The business's revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 earnings per share. Equities research analysts expect that Commercial Metals Company will post 6.45 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, April 6th were given a $0.20 dividend. This is a positive change from Commercial Metals's previous quarterly dividend of $0.18. The ex-dividend date was Monday, April 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. Commercial Metals's dividend payout ratio is 16.04%.

Analysts Set New Price Targets

CMC has been the subject of a number of research analyst reports. UBS Group raised shares of Commercial Metals from a "neutral" rating to a "buy" rating and upped their price target for the stock from $79.00 to $89.00 in a research note on Wednesday, May 13th. JPMorgan Chase & Co. lowered their price objective on shares of Commercial Metals from $83.00 to $78.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 14th. KeyCorp initiated coverage on Commercial Metals in a report on Wednesday, March 25th. They set a "sector weight" rating on the stock. The Goldman Sachs Group started coverage on Commercial Metals in a research note on Wednesday, April 1st. They set a "neutral" rating and a $74.00 price target for the company. Finally, Zacks Research cut Commercial Metals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $77.10.

Commercial Metals Profile

Commercial Metals Company NYSE: CMC is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.

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