Savant Capital LLC Sells 24,874 Shares of Commercial Metals Company $CMC

Savant Capital LLC cut its stake in Commercial Metals Company (NYSE:CMC) by 74.5% in the fourth quarter, HoldingsChannel reports. The fund owned 8,494 shares of the basic materials company’s stock after selling 24,874 shares during the period. Savant Capital LLC’s holdings in Commercial Metals were worth $588,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Merit Financial Group LLC bought a new position in shares of Commercial Metals in the third quarter worth about $821,000. American Century Companies Inc. raised its stake in shares of Commercial Metals by 6.6% in the third quarter. American Century Companies Inc. now owns 1,823,923 shares of the basic materials company’s stock worth $104,474,000 after acquiring an additional 112,267 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Commercial Metals by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 884,604 shares of the basic materials company’s stock worth $50,670,000 after acquiring an additional 64,491 shares during the last quarter. Qsemble Capital Management LP raised its stake in shares of Commercial Metals by 118.6% in the fourth quarter. Qsemble Capital Management LP now owns 49,885 shares of the basic materials company’s stock worth $3,453,000 after acquiring an additional 27,062 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Commercial Metals by 14.1% in the third quarter. Russell Investments Group Ltd. now owns 459,657 shares of the basic materials company’s stock worth $26,329,000 after acquiring an additional 56,705 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Commercial Metals from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Friday, March 27th. JPMorgan Chase & Co. dropped their price target on shares of Commercial Metals from $83.00 to $78.00 and set an “overweight” rating for the company in a research note on Tuesday, April 14th. Wall Street Zen downgraded shares of Commercial Metals from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 4th. Deutsche Bank Aktiengesellschaft raised shares of Commercial Metals to a “buy” rating in a research note on Friday, May 22nd. Finally, The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research note on Wednesday, April 1st. They set a “neutral” rating and a $74.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.10.

Commercial Metals Stock Up 0.2%

Shares of NYSE CMC opened at $76.72 on Thursday. The stock has a market cap of $8.51 billion, a P/E ratio of 17.09, a P/E/G ratio of 0.46 and a beta of 1.50. The firm has a 50 day moving average price of $68.19 and a 200 day moving average price of $69.86. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.55 and a current ratio of 2.38. Commercial Metals Company has a 52-week low of $47.06 and a 52-week high of $84.87.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, March 26th. The basic materials company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). The firm had revenue of $2.13 billion for 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 firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. Analysts expect that Commercial Metals Company will post 6.45 EPS for the current year.

Commercial Metals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, April 6th were issued a dividend of $0.20 per share. This is an increase from Commercial Metals’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, April 6th. Commercial Metals’s dividend payout ratio is presently 16.04%.

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.