Commercial Metals Company (NYSE:CMC) Stock Holdings Decreased by Palisade Capital Management LP

Palisade Capital Management LP lessened its position in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 1.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 473,342 shares of the basic materials company's stock after selling 7,335 shares during the quarter. Palisade Capital Management LP owned about 0.42% of Commercial Metals worth $21,778,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Truist Financial Corp raised its stake in shares of Commercial Metals by 3.5% during the fourth quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company's stock worth $355,000 after purchasing an additional 242 shares during the last quarter. Bank of New York Mellon Corp raised its position in Commercial Metals by 6.7% in the fourth quarter. Bank of New York Mellon Corp now owns 1,163,920 shares of the basic materials company's stock worth $57,730,000 after acquiring an additional 73,368 shares in the last quarter. QRG Capital Management Inc. raised its position in Commercial Metals by 1.8% in the fourth quarter. QRG Capital Management Inc. now owns 16,107 shares of the basic materials company's stock worth $799,000 after acquiring an additional 292 shares in the last quarter. Bailard Inc. acquired a new stake in Commercial Metals in the fourth quarter valued at $209,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock worth $82,000 after purchasing an additional 297 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. BMO Capital Markets reiterated a "market perform" rating and issued a $55.00 price objective (down previously from $57.00) on shares of Commercial Metals in a research note on Tuesday, June 24th. UBS Group reiterated a "neutral" rating on shares of Commercial Metals in a research report on Friday, June 20th. Morgan Stanley set a $57.50 price target on Commercial Metals in a report on Wednesday, June 25th. JPMorgan Chase & Co. started coverage on Commercial Metals in a report on Friday, May 30th. They set a "neutral" rating and a $52.00 price objective for the company. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Commercial Metals in a report on Friday, June 20th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Commercial Metals currently has an average rating of "Hold" and a consensus price target of $57.21.

Commercial Metals Stock Performance

NYSE CMC traded up $0.47 during trading hours on Friday, reaching $52.41. The company's stock had a trading volume of 831,851 shares, compared to its average volume of 993,181. 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 business has a 50-day simple moving average of $48.14 and a 200 day simple moving average of $47.73. Commercial Metals Company has a 52 week low of $37.92 and a 52 week high of $64.53. The stock has a market cap of $5.87 billion, a PE ratio of 169.06, a PEG ratio of 2.11 and a beta of 1.26.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings data 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). Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter last year, the company earned $1.02 EPS. The company's quarterly revenue was down 2.8% compared to the same quarter last year. Equities research analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Monday, June 30th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.37%. The ex-dividend date is Monday, June 30th. Commercial Metals's dividend payout ratio is presently 232.26%.

Commercial Metals Profile

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.