Commercial Metals Company $CMC Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC cut its stake in shares of Commercial Metals Company (NYSE:CMC) by 9.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 516,792 shares of the basic materials company’s stock after selling 54,039 shares during the period. William Blair Investment Management LLC owned approximately 0.47% of Commercial Metals worth $35,772,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Commercial Metals during the 4th quarter worth approximately $919,000. MQS Management LLC acquired a new position in Commercial Metals during the 4th quarter worth approximately $207,000. LSV Asset Management lifted its position in Commercial Metals by 28.0% during the 4th quarter. LSV Asset Management now owns 340,000 shares of the basic materials company’s stock worth $23,535,000 after acquiring an additional 74,300 shares in the last quarter. RD Lewis Holdings Inc. lifted its position in Commercial Metals by 3.3% during the 4th quarter. RD Lewis Holdings Inc. now owns 41,423 shares of the basic materials company’s stock worth $2,867,000 after acquiring an additional 1,311 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in Commercial Metals by 110.7% during the 4th quarter. Global Retirement Partners LLC now owns 573 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 301 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

Commercial Metals stock opened at $71.87 on Monday. The stock has a market cap of $7.97 billion, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 0.42 and a beta of 1.49. The company has a current ratio of 2.38, a quick ratio of 1.55 and a debt-to-equity ratio of 0.75. The stock has a 50 day moving average of $65.93 and a 200-day moving average of $68.91. Commercial Metals Company has a 52 week low of $45.50 and a 52 week high of $84.87.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, March 26th. The basic materials company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.12). The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 earnings per share. On average, analysts expect that Commercial Metals Company will post 6.51 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, April 6th were paid a dividend of $0.20 per share. This is an increase from Commercial Metals’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, April 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. Commercial Metals’s dividend payout ratio (DPR) is currently 16.04%.

Wall Street Analysts Forecast Growth

CMC has been the topic of several recent research reports. Barclays initiated coverage on Commercial Metals in a research report on Thursday. They set an “equal weight” rating and a $75.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised Commercial Metals to a “buy” rating in a research report on Friday. Zacks Research lowered Commercial Metals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. KeyCorp initiated coverage on Commercial Metals in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Finally, Wall Street Zen lowered Commercial Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.82.

Commercial Metals Company Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.