Counterpoint Mutual Funds LLC Invests $286,000 in Commercial Metals (NYSE:CMC)

Counterpoint Mutual Funds LLC bought a new position in shares of Commercial Metals (NYSE:CMC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,765 shares of the basic materials company’s stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CMC. Atria Investments Inc acquired a new stake in shares of Commercial Metals during the third quarter worth about $290,000. KBC Group NV increased its position in shares of 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 purchasing an additional 425 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Commercial Metals during the third quarter worth about $1,008,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Commercial Metals during the third quarter worth about $5,662,000. Finally, Moran Wealth Management LLC increased its position in shares of Commercial Metals by 336.7% during the third quarter. Moran Wealth Management LLC now owns 60,372 shares of the basic materials company’s stock worth $3,318,000 after purchasing an additional 46,547 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on CMC shares. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and cut their target price for the stock from $56.00 to $54.00 in a research report on Friday, January 10th. The Goldman Sachs Group started coverage on Commercial Metals in a research report on Monday, December 2nd. They issued a “buy” rating and a $75.00 price target on the stock. Jefferies Financial Group dropped their price target on 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 dropped their price target on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research report on Friday, January 3rd. Finally, BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Commercial Metals presently has an average rating of “Hold” and a consensus price target of $61.83.

Commercial Metals Price Performance

Shares of CMC opened at $46.30 on Wednesday. Commercial Metals has a twelve month low of $42.62 and a twelve month high of $64.53. The stock’s 50 day moving average is $48.89 and its two-hundred day moving average is $52.85. The firm has a market capitalization of $5.26 billion, a PE ratio of 41.71, a P/E/G ratio of 2.62 and a beta of 1.17. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.78. The company 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 firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.49 EPS. Research analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th were paid 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 was Thursday, January 16th. Commercial Metals’s dividend payout ratio (DPR) 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.