Farther Finance Advisors LLC Has $326,000 Holdings in Commercial Metals (NYSE:CMC)

Farther Finance Advisors LLC trimmed its position in shares of Commercial Metals (NYSE:CMC) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,579 shares of the basic materials company’s stock after selling 547 shares during the period. Farther Finance Advisors LLC’s holdings in Commercial Metals were worth $326,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. boosted its position in shares of 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 worth $68,455,000 after acquiring an additional 686,519 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its stake in 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 worth $79,172,000 after purchasing an additional 528,876 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new stake in Commercial Metals during the third quarter worth $16,731,000. Victory Capital Management Inc. boosted its holdings 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 in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Commercial Metals in the 4th quarter valued at $11,052,000. 86.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

CMC has been the topic of several research analyst reports. BMO Capital Markets reduced 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. 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 note on Monday, January 6th. BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Morgan Stanley cut their target price on shares of 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, UBS Group upgraded shares of Commercial Metals from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $56.00 to $54.00 in a report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and three have issued 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 $61.83.

Commercial Metals Price Performance

CMC stock opened at $46.14 on Tuesday. The company has a market capitalization of $5.24 billion, a P/E ratio of 41.56, a PEG ratio of 2.62 and a beta of 1.17. The company has a fifty day moving average price of $48.94 and a 200-day moving average price of $52.90. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. Commercial Metals has a 52-week low of $42.62 and a 52-week high of $64.53.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.78. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.49 earnings per share. As a group, equities analysts expect that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Thursday, January 16th. Commercial Metals’s dividend payout ratio (DPR) is presently 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.