Spring Capital Management LLC Makes New Investment in Commercial Metals (NYSE:CMC)

Spring Capital Management LLC purchased a new stake in Commercial Metals (NYSE:CMC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,000 shares of the basic materials company’s stock, valued at approximately $248,000.

A number of other large investors have also added to or reduced their stakes in CMC. nVerses Capital LLC bought a new stake in shares of Commercial Metals during the 3rd quarter valued at $66,000. GAMMA Investing LLC raised its stake in Commercial Metals by 56.6% in 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in Commercial Metals by 10.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock worth $138,000 after purchasing an additional 254 shares during the period. KBC Group NV grew its stake in Commercial Metals by 15.9% during the third quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock worth $170,000 after buying an additional 425 shares in the last quarter. Finally, Highland Capital Management LLC bought a new position in Commercial Metals in the 3rd quarter valued at about $206,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CMC. Jefferies Financial Group reduced their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. BMO Capital Markets reduced their target price on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a report on Friday, January 3rd. Morgan Stanley started coverage on Commercial Metals in a report on Thursday, December 19th. They set an “equal weight” rating and a $65.00 price target for the company. The Goldman Sachs Group began coverage on Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 price objective on the stock. Finally, UBS Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $56.00 to $54.00 in a report on Friday, January 10th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $63.83.

Commercial Metals Price Performance

Commercial Metals stock opened at $50.63 on Friday. The stock has a 50-day moving average price of $55.57 and a two-hundred day moving average price of $54.69. Commercial Metals has a 12 month low of $45.50 and a 12 month high of $64.53. The company has a market capitalization of $5.75 billion, a PE ratio of 45.61, a P/E/G ratio of 2.08 and a beta of 1.19. The company has a current ratio of 2.76, a quick ratio of 2.78 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC) last posted its earnings results on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the company earned $1.49 EPS. The firm’s revenue was down 4.7% compared to the same quarter last year. Analysts expect that Commercial Metals will post 3.47 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, January 16th will be issued a $0.18 dividend. The ex-dividend date is Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.42%. Commercial Metals’s payout ratio is 64.86%.

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.