Aristides Capital LLC Grows Stock Holdings in Commercial Metals (NYSE:CMC)

Aristides Capital LLC increased its stake in Commercial Metals (NYSE:CMC) by 34.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,369 shares of the basic materials company’s stock after buying an additional 1,365 shares during the period. Aristides Capital LLC’s holdings in Commercial Metals were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CMC. State Street Corp boosted its holdings in Commercial Metals by 0.4% in the third quarter. State Street Corp now owns 5,830,412 shares of the basic materials company’s stock worth $320,439,000 after acquiring an additional 24,665 shares in the last quarter. Boston Partners boosted its stake in Commercial Metals by 6.4% in the 4th quarter. Boston Partners now owns 4,055,150 shares of the basic materials company’s stock worth $201,178,000 after purchasing an additional 243,921 shares in the last quarter. Geode Capital Management LLC grew its position in Commercial Metals by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock valued at $156,093,000 after purchasing an additional 28,019 shares during the last quarter. Victory Capital Management Inc. increased its stake in Commercial Metals by 11.3% during the 4th quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company’s stock valued at $120,152,000 after purchasing an additional 245,468 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in Commercial Metals by 87.0% in the fourth quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company’s stock worth $95,204,000 after buying an additional 893,094 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CMC has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley reduced their target price on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. UBS Group decreased their price target on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Finally, BMO Capital Markets decreased their target price on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research report on Friday, March 21st. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.33.

Commercial Metals Stock Down 1.6 %

CMC stock opened at $40.95 on Monday. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 36.89, a P/E/G ratio of 2.62 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The business’s 50-day moving average is $48.07 and its two-hundred day moving average is $52.48. Commercial Metals has a fifty-two week low of $37.92 and a fifty-two week high of $64.53.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. As a group, analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Monday, March 31st. Commercial Metals’s payout ratio is 120.00%.

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.