Patriot Financial Group Insurance Agency LLC Grows Stock Holdings in Commercial Metals (NYSE:CMC)

Patriot Financial Group Insurance Agency LLC lifted its position in Commercial Metals (NYSE:CMC) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,476 shares of the basic materials company’s stock after buying an additional 889 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Commercial Metals were worth $520,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CMC. Jacobs Levy Equity Management Inc. increased its position in Commercial Metals by 122.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,245,535 shares of the basic materials company’s stock valued at $68,455,000 after buying an additional 686,519 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in shares of Commercial Metals by 58.0% during the third quarter. Thompson Siegel & Walmsley LLC now owns 1,440,531 shares of the basic materials company’s stock valued at $79,172,000 after acquiring an additional 528,876 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Commercial Metals in the 3rd quarter valued at approximately $16,731,000. Van ECK Associates Corp boosted its stake in Commercial Metals by 204.3% in the 3rd quarter. Van ECK Associates Corp now owns 420,808 shares of the basic materials company’s stock worth $21,570,000 after purchasing an additional 282,511 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Commercial Metals by 18.8% during the 3rd quarter. Wellington Management Group LLP now owns 714,808 shares of the basic materials company’s stock worth $39,286,000 after purchasing an additional 113,156 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CMC shares. UBS Group raised shares of Commercial Metals from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $56.00 to $54.00 in a report on Friday, January 10th. Jefferies Financial Group lowered their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, October 9th. BMO Capital Markets reduced their price objective on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating for the company in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group initiated coverage on Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Commercial Metals has an average rating of “Hold” and a consensus price target of $63.83.

Commercial Metals Stock Performance

Shares of CMC stock opened at $49.89 on Thursday. The stock has a market cap of $5.67 billion, a PE ratio of 44.95, a price-to-earnings-growth ratio of 2.59 and a beta of 1.19. Commercial Metals has a 52-week low of $45.50 and a 52-week high of $64.53. The business has a 50-day simple moving average of $53.97 and a 200-day simple moving average of $54.54. 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 released its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.49 EPS. On average, equities analysts expect that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, January 16th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, January 16th. This represents a $0.72 annualized dividend and a yield of 1.44%. Commercial Metals’s dividend payout ratio is presently 64.86%.

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.