Commercial Metals Company $CMC Position Trimmed by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. reduced its stake in Commercial Metals Company (NYSE:CMC) by 32.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 658,710 shares of the basic materials company’s stock after selling 318,675 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Commercial Metals were worth $40,465,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Commercial Metals by 1.4% during the first quarter. Royal Bank of Canada now owns 90,989 shares of the basic materials company’s stock worth $4,186,000 after buying an additional 1,219 shares during the period. Amundi raised its holdings in Commercial Metals by 13.3% during the first quarter. Amundi now owns 2,480 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 291 shares in the last quarter. Jones Financial Companies Lllp raised its position in Commercial Metals by 614.9% in the first quarter. Jones Financial Companies Lllp now owns 11,767 shares of the basic materials company’s stock worth $541,000 after acquiring an additional 10,121 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Commercial Metals by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,033,514 shares of the basic materials company’s stock valued at $47,552,000 after acquiring an additional 56,875 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Commercial Metals by 1.8% in the first quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company’s stock valued at $2,453,000 after buying an additional 941 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Up 0.2%

CMC stock opened at $72.50 on Monday. The firm has a market cap of $8.04 billion, a PE ratio of 16.15, a PEG ratio of 0.41 and a beta of 1.50. Commercial Metals Company has a 1 year low of $47.06 and a 1 year high of $84.87. The company has a fifty day simple moving average of $71.44 and a 200 day simple moving average of $71.08. The company has a current ratio of 2.38, a quick ratio of 1.55 and a debt-to-equity ratio of 0.75.

Commercial Metals (NYSE:CMC) last posted 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). Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.10 billion. During the same period in the previous year, the company earned $0.26 earnings per share. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. Sell-side analysts anticipate that Commercial Metals Company will post 6.58 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The business also recently declared 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 a boost 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 is currently 17.82%.

Analysts Set New Price Targets

CMC has been the topic of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Commercial Metals in a research note on Tuesday, June 9th. UBS Group upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and increased their target price for the stock from $79.00 to $89.00 in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft raised Commercial Metals to a “buy” rating in a research note on Friday, May 22nd. Morgan Stanley boosted their price target on Commercial Metals from $75.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Finally, The Goldman Sachs Group started coverage on Commercial Metals in a report on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Commercial Metals currently has an average rating of “Moderate Buy” and a consensus price target of $77.10.

Commercial Metals 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.