Brandywine Global Investment Management LLC Has $1.25 Million Stake in Commercial Metals (NYSE:CMC)

Brandywine Global Investment Management LLC lowered its stake in shares of Commercial Metals (NYSE:CMC) by 7.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 25,212 shares of the basic materials company’s stock after selling 1,948 shares during the period. Brandywine Global Investment Management LLC’s holdings in Commercial Metals were worth $1,251,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of Commercial Metals during the 3rd quarter valued at about $342,000. BNP Paribas Financial Markets grew its position in Commercial Metals by 18.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 29,772 shares of the basic materials company’s stock worth $1,636,000 after acquiring an additional 4,699 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Commercial Metals by 8.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,710 shares of the basic materials company’s stock worth $1,633,000 after purchasing an additional 2,285 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Commercial Metals in the third quarter valued at $4,345,000. Finally, Verition Fund Management LLC bought a new stake in Commercial Metals during the 3rd quarter worth about $374,000. Institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group decreased their price target on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. BMO Capital Markets reduced their target price on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research note on Friday, March 21st. BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Jefferies Financial Group reduced their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley dropped their target price on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Commercial Metals has an average rating of “Hold” and a consensus target price of $60.33.

Commercial Metals Price Performance

CMC opened at $47.14 on Thursday. The stock has a market cap of $5.33 billion, a P/E ratio of 42.47, a P/E/G ratio of 2.62 and a beta of 1.17. Commercial Metals has a 12 month low of $42.62 and a 12 month high of $64.53. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $48.42 and a 200 day simple moving average of $52.61.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter last year, the company earned $0.88 earnings per share. The firm’s revenue was down 5.1% compared to the same quarter last year. On average, research analysts expect that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 1.53%. Commercial Metals’s dividend payout ratio (DPR) is currently 120.00%.

About Commercial Metals

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous 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.