Squarepoint Ops LLC lowered its stake in Commercial Metals (NYSE:CMC) by 66.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,560 shares of the basic materials company’s stock after selling 66,307 shares during the period. Squarepoint Ops LLC’s holdings in Commercial Metals were worth $538,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Stratos Wealth Partners LTD. boosted its stake in shares of Commercial Metals by 1.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 58,610 shares of the basic materials company’s stock valued at $939,000 after purchasing an additional 800 shares in the last quarter. SignalPoint Asset Management LLC boosted its stake in shares of Commercial Metals by 3.5% during the fourth quarter. SignalPoint Asset Management LLC now owns 25,331 shares of the basic materials company’s stock valued at $406,000 after purchasing an additional 852 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Commercial Metals by 0.9% during the fourth quarter. Retirement Systems of Alabama now owns 152,509 shares of the basic materials company’s stock valued at $2,443,000 after purchasing an additional 1,290 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Commercial Metals by 1.4% during the fourth quarter. Bank of Montreal Can now owns 92,612 shares of the basic materials company’s stock valued at $1,483,000 after purchasing an additional 1,290 shares in the last quarter. Finally, American International Group Inc. boosted its stake in shares of Commercial Metals by 0.4% during the fourth quarter. American International Group Inc. now owns 314,320 shares of the basic materials company’s stock valued at $5,035,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors own 88.80% of the company’s stock.

Commercial Metals stock opened at $17.61 on Wednesday. The company has a current ratio of 2.75, a quick ratio of 1.60 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $2.14 billion, a P/E ratio of 11.82, a P/E/G ratio of 0.81 and a beta of 1.31. Commercial Metals has a one year low of $15.23 and a one year high of $24.95.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.04. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.46 billion. Commercial Metals had a return on equity of 12.49% and a net margin of 2.41%. The firm’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 earnings per share. Equities analysts predict that Commercial Metals will post 1.89 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Friday, April 5th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, April 4th. Commercial Metals’s dividend payout ratio is currently 32.21%.

A number of analysts have recently commented on CMC shares. Goldman Sachs Group raised Commercial Metals from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Monday, January 14th. Cowen started coverage on Commercial Metals in a research note on Tuesday, January 8th. They set a “market perform” rating and a $17.00 price target on the stock. Zacks Investment Research raised Commercial Metals from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research note on Wednesday, January 2nd. Macquarie set a $21.00 price target on Commercial Metals and gave the company a “hold” rating in a research note on Tuesday, January 8th. Finally, ValuEngine lowered Commercial Metals from a “sell” rating to a “strong sell” rating in a research note on Friday, February 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $20.23.

WARNING: This piece of content was reported by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another website, it was stolen and reposted in violation of United States and international copyright & trademark laws. The correct version of this piece of content can be read at https://www.watchlistnews.com/commercial-metals-cmc-position-lowered-by-squarepoint-ops-llc/2952992.html.

Commercial Metals Company Profile

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.

Recommended Story: What are municipal bonds?

Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.