Commercial Metals (NYSE:CMC) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC trimmed its holdings in Commercial Metals (NYSE:CMC) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,212 shares of the basic materials company’s stock after selling 1,948 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Commercial Metals were worth $1,251,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in CMC. State Street Corp boosted its holdings in Commercial Metals by 0.4% during the third quarter. State Street Corp now owns 5,830,412 shares of the basic materials company’s stock worth $320,439,000 after buying an additional 24,665 shares in the last quarter. Boston Partners raised its position in shares of Commercial Metals by 6.4% during the fourth 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 during the period. Geode Capital Management LLC lifted its holdings in shares of Commercial Metals by 1.0% during the third 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. boosted its position in shares of Commercial Metals by 11.3% in 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 during the period. Finally, Principal Financial Group Inc. increased its stake in Commercial Metals by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after purchasing an additional 17,931 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

Commercial Metals Trading Up 0.3 %

Shares of CMC stock opened at $47.14 on Thursday. Commercial Metals has a 12 month low of $42.62 and a 12 month high of $64.53. The company has a market cap of $5.33 billion, a PE ratio of 42.47, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $48.42 and its two-hundred day moving average is $52.61.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 earnings per share. Equities analysts predict that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

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 paid a $0.18 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.53%. Commercial Metals’s payout ratio is presently 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.