LSV Asset Management Purchases 74,300 Shares of Commercial Metals Company $CMC

Key Points

• LSV Asset Management increased its stake in Commercial Metals by 28% in the fourth quarter, buying 74,300 additional shares and bringing its total holdings to 340,000 shares worth about $23.5 million.
• Wall Street sentiment on CMC is mixed but generally positive: the stock has a consensus rating of Moderate Buy with an average price target of $74.82, while recent calls included upgrades from Deutsche Bank and new coverage from Goldman Sachs and Barclays.
• Commercial Metals reported better-than-expected revenue but missed earnings estimates in its latest quarter, and it also raised its quarterly dividend to $0.20 per share, lifting the annualized payout to $0.80.

LSV Asset Management raised its position in Commercial Metals Company (NYSE:CMC - Free Report) by 28.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 340,000 shares of the basic materials company's stock after acquiring an additional 74,300 shares during the quarter. LSV Asset Management owned approximately 0.31% of Commercial Metals worth $23,535,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Commercial Metals by 430.9% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 29,247 shares of the basic materials company's stock worth $1,675,000 after buying an additional 23,738 shares during the period. Merit Financial Group LLC bought a new position in shares of Commercial Metals in the third quarter worth about $821,000. American Century Companies Inc. raised its stake in shares of Commercial Metals by 6.6% in the third quarter. American Century Companies Inc. now owns 1,823,923 shares of the basic materials company's stock worth $104,474,000 after buying an additional 112,267 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Commercial Metals by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 884,604 shares of the basic materials company's stock worth $50,670,000 after buying an additional 64,491 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Commercial Metals by 14.1% in the third quarter. Russell Investments Group Ltd. now owns 459,657 shares of the basic materials company's stock worth $26,329,000 after buying an additional 56,705 shares during the period. Institutional investors own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Commercial Metals in a research note on Wednesday, April 1st. They issued a "neutral" rating and a $74.00 price objective on the stock. Barclays assumed coverage on Commercial Metals in a research note on Thursday. They issued an "equal weight" rating and a $75.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised Commercial Metals to a "buy" rating in a research note on Friday. Zacks Research downgraded Commercial Metals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on Commercial Metals from $83.00 to $78.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $74.82.

Commercial Metals Stock Down 0.0%

Shares of CMC opened at $71.87 on Monday. The business's 50 day moving average is $65.93 and its 200 day moving average is $68.91. The company has a market capitalization of $7.97 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 0.42 and a beta of 1.49. Commercial Metals Company has a 12-month low of $45.50 and a 12-month high of $84.87. The company has a current ratio of 2.38, a quick ratio of 1.55 and a debt-to-equity ratio of 0.75.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its earnings results on Thursday, March 26th. The basic materials company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.12). The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.10 billion. Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. The firm's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the business posted $0.26 EPS. Research analysts expect that Commercial Metals Company will post 6.51 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, April 6th were paid a dividend of $0.20 per share. This is a boost from Commercial Metals's previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, April 6th. This represents a $0.80 annualized dividend and a yield of 1.1%. Commercial Metals's dividend payout ratio is 16.04%.

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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