Commercial Metals Company $CMC Stock Holdings Lessened by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC decreased its stake in Commercial Metals Company by 90.3%, holding just 11,738 shares after selling 109,447 shares during the first quarter.
• Despite the reduction, a majority of the stock, approximately 86.90%, is still owned by institutional investors and hedge funds.
• Commercial Metals reported a quarterly earnings miss with $0.74 earnings per share, falling short of analyst expectations of $0.85.

Hsbc Holdings PLC decreased its stake in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 90.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,738 shares of the basic materials company's stock after selling 109,447 shares during the period. Hsbc Holdings PLC's holdings in Commercial Metals were worth $540,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CMC. Northern Trust Corp increased its position in shares of Commercial Metals by 10.2% in the fourth quarter. Northern Trust Corp now owns 1,749,877 shares of the basic materials company's stock worth $86,794,000 after acquiring an additional 162,201 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Commercial Metals by 22.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 17,512 shares of the basic materials company's stock worth $869,000 after acquiring an additional 3,221 shares in the last quarter. Algert Global LLC increased its position in shares of Commercial Metals by 19.2% in the fourth quarter. Algert Global LLC now owns 64,775 shares of the basic materials company's stock worth $3,213,000 after acquiring an additional 10,431 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Commercial Metals by 11.5% in the fourth quarter. BNP Paribas Financial Markets now owns 33,198 shares of the basic materials company's stock worth $1,647,000 after acquiring an additional 3,426 shares in the last quarter. Finally, Baird Financial Group Inc. increased its position in shares of Commercial Metals by 7.9% in the fourth quarter. Baird Financial Group Inc. now owns 332,050 shares of the basic materials company's stock worth $16,470,000 after acquiring an additional 24,411 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Stock Up 1.8%

NYSE CMC traded up $1.02 during trading hours on Friday, reaching $59.21. 957,817 shares of the company traded hands, compared to its average volume of 848,895. Commercial Metals Company has a 12 month low of $37.92 and a 12 month high of $64.53. The company has a current ratio of 2.86, a quick ratio of 2.00 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $6.63 billion, a PE ratio of 191.00, a PEG ratio of 1.79 and a beta of 1.33. The company has a 50 day moving average of $54.13 and a two-hundred day moving average of $49.12.

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

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Monday, June 30th. Commercial Metals's dividend payout ratio (DPR) is presently 232.26%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Morgan Stanley set a $57.50 price objective on shares of Commercial Metals in a research report on Wednesday, June 25th. BMO Capital Markets restated a "market perform" rating and issued a $55.00 target price (down from $57.00) on shares of Commercial Metals in a research note on Tuesday, June 24th. Wells Fargo & Company upgraded shares of Commercial Metals to a "strong-buy" rating in a research note on Thursday, August 14th. Jefferies Financial Group restated a "buy" rating on shares of Commercial Metals in a research note on Friday, June 20th. Finally, UBS Group upped their target price on shares of Commercial Metals from $48.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $58.81.

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.