Ethic Inc. Grows Holdings in Commercial Metals Company $CMC

Ethic Inc. lifted its stake in shares of Commercial Metals Company (NYSE:CMC) by 158.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,670 shares of the basic materials company’s stock after purchasing an additional 7,157 shares during the period. Ethic Inc.’s holdings in Commercial Metals were worth $808,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Root Financial Partners LLC purchased a new stake in shares of Commercial Metals during the third quarter worth about $25,000. Rothschild Investment LLC increased its stake in shares of Commercial Metals by 169.6% during the third quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 324 shares in the last quarter. Spire Wealth Management increased its stake in shares of Commercial Metals by 42.4% during the third quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 183 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Commercial Metals during the fourth quarter worth about $54,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of Commercial Metals during the third quarter worth about $73,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Performance

CMC opened at $72.74 on Friday. 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 firm has a market capitalization of $8.07 billion, a PE ratio of 16.20, a PEG ratio of 0.40 and a beta of 1.49. The firm’s 50-day moving average price is $65.51 and its 200 day moving average price is $68.46. Commercial Metals Company has a twelve month low of $45.50 and a twelve month high of $84.87.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, March 26th. The basic materials company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.12). The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.10 billion. Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 earnings per share. As a group, sell-side analysts expect that Commercial Metals Company will post 6.54 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, April 6th. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.18. Commercial Metals’s dividend payout ratio (DPR) is presently 16.04%.

Analyst Ratings Changes

A number of research firms recently weighed in on CMC. UBS Group upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $79.00 to $89.00 in a research report on Wednesday. KeyCorp began coverage on shares of Commercial Metals in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Zacks Research lowered shares of Commercial Metals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Wells Fargo & Company lowered their price target on shares of Commercial Metals from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, March 27th. Finally, Wall Street Zen lowered shares of Commercial Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.80.

About Commercial Metals

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.