RD Lewis Holdings Inc. Makes New Investment in Commercial Metals (NYSE:CMC)

RD Lewis Holdings Inc. purchased a new position in shares of Commercial Metals (NYSE:CMC) in the fourth quarter, HoldingsChannel reports. The fund purchased 37,935 shares of the basic materials company’s stock, valued at approximately $1,883,000. Commercial Metals comprises about 2.2% of RD Lewis Holdings Inc.’s portfolio, making the stock its 15th largest holding.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Commercial Metals by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,081,153 shares of the basic materials company’s stock worth $59,420,000 after acquiring an additional 66,092 shares during the last quarter. Principal Financial Group Inc. boosted its position in Commercial Metals by 1.1% during 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 acquiring an additional 17,931 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Commercial Metals by 66.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 71,151 shares of the basic materials company’s stock worth $3,529,000 after acquiring an additional 28,297 shares during the last quarter. Vestcor Inc boosted its position in Commercial Metals by 108.0% during the 3rd quarter. Vestcor Inc now owns 18,103 shares of the basic materials company’s stock worth $995,000 after acquiring an additional 9,400 shares during the last quarter. Finally, Covea Finance boosted its position in Commercial Metals by 44.2% during the 4th quarter. Covea Finance now owns 62,000 shares of the basic materials company’s stock worth $3,075,000 after acquiring an additional 19,000 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Down 0.4 %

CMC opened at $46.14 on Tuesday. Commercial Metals has a 1-year low of $42.62 and a 1-year high of $64.53. The stock’s fifty day simple moving average is $48.94 and its 200 day simple moving average is $52.90. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The stock has a market cap of $5.24 billion, a PE ratio of 41.56, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the business earned $1.49 EPS. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, research analysts expect that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, January 16th. Commercial Metals’s dividend payout ratio is 64.86%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group assumed coverage on Commercial Metals in a research note on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective on the stock. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $56.00 to $54.00 in a research note on Friday, January 10th. BMO Capital Markets dropped their price objective on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, January 3rd. Morgan Stanley dropped their price objective on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Finally, Jefferies Financial Group dropped their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Commercial Metals has an average rating of “Hold” and an average target price of $61.83.

Commercial Metals Company 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.