IQ EQ FUND MANAGEMENT IRELAND Ltd Lowers Stake in Commercial Metals (NYSE:CMC)

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its position in Commercial Metals (NYSE:CMC) by 62.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,317 shares of the basic materials company’s stock after selling 25,940 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Commercial Metals were worth $760,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in Commercial Metals in the fourth quarter valued at approximately $34,000. V Square Quantitative Management LLC lifted its position in Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 267 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 297 shares during the period. Amundi grew its position in Commercial Metals by 29.9% in the fourth quarter. Amundi now owns 2,189 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 504 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Commercial Metals by 56.6% during the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 944 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Trading Down 0.9 %

Shares of NYSE CMC opened at $48.36 on Friday. The stock’s 50 day moving average price is $48.75 and its two-hundred day moving average price is $52.68. Commercial Metals has a 52-week low of $42.62 and a 52-week high of $64.53. The stock has a market capitalization of $5.50 billion, a P/E ratio of 43.57, a PEG 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.

Commercial Metals (NYSE:CMC) last issued 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 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%. The business’s revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.88 EPS. On average, analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Monday, March 31st. Commercial Metals’s payout ratio is 120.00%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CMC shares. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a report on Monday, December 2nd. They set a “buy” rating and a $75.00 price target for the company. Morgan Stanley lowered their target price on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Jefferies Financial Group lowered their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, BMO Capital Markets cut their target price on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $60.33.

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.