Skandinaviska Enskilda Banken AB publ Cuts Position in Commercial Metals (NYSE:CMC)

Skandinaviska Enskilda Banken AB publ lowered its position in shares of Commercial Metals (NYSE:CMC) by 61.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 24,882 shares of the basic materials company’s stock after selling 38,924 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Commercial Metals were worth $1,225,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CMC. Heck Capital Advisors LLC acquired a new position in Commercial Metals during the fourth quarter valued at approximately $34,000. V Square Quantitative Management LLC raised its stake in shares of Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 267 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after acquiring an additional 297 shares in the last quarter. Amundi boosted its position in Commercial Metals by 29.9% during the 4th quarter. Amundi now owns 2,189 shares of the basic materials company’s stock worth $108,000 after purchasing an additional 504 shares during the period. Finally, GAMMA Investing LLC boosted its position in Commercial Metals by 56.6% during the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after purchasing an additional 944 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Performance

Commercial Metals stock opened at $46.14 on Tuesday. Commercial Metals has a 52 week low of $42.62 and a 52 week high of $64.53. 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 P/E ratio of 41.56, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The stock has a 50 day moving average of $48.94 and a 200-day moving average of $52.90.

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

Commercial Metals Announces Dividend

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

Analysts Set New Price Targets

Several research firms have commented on CMC. Jefferies Financial Group cut their price objective 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. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and dropped their target price for the company from $56.00 to $54.00 in a report on Friday, January 10th. Morgan Stanley decreased their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. BMO Capital Markets dropped their price objective on shares of 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. Finally, BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.