Commercial Metals (CMC) Shares Bought by ClariVest Asset Management LLC

ClariVest Asset Management LLC raised its position in shares of Commercial Metals (NYSE:CMC) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,200 shares of the basic materials company’s stock after purchasing an additional 1,700 shares during the period. ClariVest Asset Management LLC owned approximately 0.17% of Commercial Metals worth $3,255,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CMC. Deutsche Bank AG grew its stake in shares of Commercial Metals by 36.1% during the third quarter. Deutsche Bank AG now owns 531,088 shares of the basic materials company’s stock worth $10,896,000 after buying an additional 141,010 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its stake in shares of Commercial Metals by 78.0% during the fourth quarter. Hudson Valley Investment Advisors Inc. ADV now owns 39,560 shares of the basic materials company’s stock worth $634,000 after buying an additional 17,340 shares during the last quarter. Teachers Advisors LLC grew its stake in shares of Commercial Metals by 1.1% during the third quarter. Teachers Advisors LLC now owns 270,435 shares of the basic materials company’s stock worth $5,549,000 after buying an additional 2,902 shares during the last quarter. Vanguard Group Inc grew its stake in shares of Commercial Metals by 0.8% during the third quarter. Vanguard Group Inc now owns 10,591,735 shares of the basic materials company’s stock worth $217,343,000 after buying an additional 78,875 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of Commercial Metals during the third quarter worth $207,000. Institutional investors and hedge funds own 87.56% of the company’s stock.

Shares of Commercial Metals stock opened at $16.14 on Thursday. The company has a current ratio of 2.68, a quick ratio of 1.58 and a debt-to-equity ratio of 0.88. Commercial Metals has a twelve month low of $15.23 and a twelve month high of $26.72. The firm has a market capitalization of $1.91 billion, a P/E ratio of 10.83 and a beta of 1.32.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Monday, January 7th. The basic materials company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Commercial Metals had a net margin of 2.51% and a return on equity of 12.32%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Commercial Metals’s revenue for the quarter was up 18.7% on a year-over-year basis. As a group, sell-side analysts predict that Commercial Metals will post 2.06 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 30th. Investors of record on Tuesday, January 15th were paid a $0.12 dividend. The ex-dividend date was Monday, January 14th. This represents a $0.48 annualized dividend and a dividend yield of 2.97%. Commercial Metals’s dividend payout ratio is 32.21%.

A number of research firms have weighed in on CMC. Macquarie set a $23.00 target price on shares of Commercial Metals and gave the stock a “hold” rating in a research note on Friday, October 26th. Citigroup decreased their target price on shares of Commercial Metals from $24.00 to $19.00 and set a “neutral” rating on the stock in a research note on Monday, October 29th. ValuEngine raised shares of Commercial Metals from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Seaport Global Securities reaffirmed a “hold” rating on shares of Commercial Metals in a research note on Tuesday, January 8th. Finally, Cowen began coverage on shares of Commercial Metals in a research note on Tuesday, January 8th. They set a “market perform” rating and a $17.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $21.11.

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About Commercial Metals

Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through four segments: Americas Recycling, Americas Mills, Americas Fabrication, and International Mill. The Americas Recycling segment processes and sells 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.

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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