Aristides Capital LLC Purchases 1,365 Shares of Commercial Metals (NYSE:CMC)

Aristides Capital LLC increased its position in shares of Commercial Metals (NYSE:CMC) by 34.1% during the 4th quarter, Holdings Channel reports. The firm owned 5,369 shares of the basic materials company’s stock after acquiring an additional 1,365 shares during the period. Aristides Capital LLC’s holdings in Commercial Metals were worth $266,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CMC. State Street Corp increased its stake in Commercial Metals by 0.4% in the 3rd quarter. State Street Corp now owns 5,830,412 shares of the basic materials company’s stock worth $320,439,000 after buying an additional 24,665 shares in the last quarter. Boston Partners boosted its stake in shares of Commercial Metals by 6.4% in the fourth quarter. Boston Partners now owns 4,055,150 shares of the basic materials company’s stock worth $201,178,000 after acquiring an additional 243,921 shares during the period. Geode Capital Management LLC grew its position in shares of Commercial Metals by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock worth $156,093,000 after purchasing an additional 28,019 shares in the last quarter. Victory Capital Management Inc. raised its stake in Commercial Metals by 11.3% during the 4th quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company’s stock valued at $120,152,000 after purchasing an additional 245,468 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Commercial Metals by 87.0% in the 4th quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company’s stock worth $95,204,000 after purchasing an additional 893,094 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

CMC has been the subject of a number of research analyst reports. Morgan Stanley cut their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Jefferies Financial Group cut their target price on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. 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. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Finally, BMO Capital Markets decreased their target price on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research report on Friday, March 21st. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $60.33.

Commercial Metals Stock Down 1.6 %

Shares of NYSE CMC opened at $40.95 on Monday. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. Commercial Metals has a 12-month low of $37.92 and a 12-month high of $64.53. The firm’s 50-day moving average price is $48.07 and its 200-day moving average price is $52.48. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 36.89, a P/E/G ratio of 2.62 and a beta of 1.16.

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

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Monday, March 31st. Commercial Metals’s payout ratio is 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.