Covestor Ltd Purchases 343 Shares of Commercial Metals (NYSE:CMC)

Covestor Ltd increased its position in shares of Commercial Metals (NYSE:CMC) by 19.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,148 shares of the basic materials company’s stock after buying an additional 343 shares during the quarter. Covestor Ltd’s holdings in Commercial Metals were worth $107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. HighTower Advisors LLC grew its stake in shares of Commercial Metals by 82.6% during the 3rd quarter. HighTower Advisors LLC now owns 15,928 shares of the basic materials company’s stock worth $874,000 after acquiring an additional 7,207 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Commercial Metals by 191.4% during the third quarter. Public Employees Retirement System of Ohio now owns 56,990 shares of the basic materials company’s stock worth $3,132,000 after purchasing an additional 37,433 shares during the last quarter. Barclays PLC grew its position in Commercial Metals by 67.5% in the third quarter. Barclays PLC now owns 210,769 shares of the basic materials company’s stock valued at $11,584,000 after purchasing an additional 84,905 shares in the last quarter. Geode Capital Management LLC increased its stake in Commercial Metals by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company’s stock valued at $156,093,000 after buying an additional 28,019 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its position in Commercial Metals by 8.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,092 shares of the basic materials company’s stock worth $282,000 after buying an additional 415 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analysts Set New Price Targets

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

Commercial Metals Stock Performance

Shares of NYSE CMC opened at $41.93 on Friday. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $4.74 billion, a P/E ratio of 37.78, a P/E/G ratio of 2.62 and a beta of 1.16. Commercial Metals has a 12 month low of $37.92 and a 12 month high of $64.53. The stock has a 50 day moving average of $47.01 and a 200-day moving average of $51.89.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 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 the consensus estimate of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.88 earnings per share. As a group, equities research analysts predict that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.72%. Commercial Metals’s dividend payout ratio (DPR) is currently 120.00%.

Insider Buying and Selling at Commercial Metals

In other news, Director John R. Mcpherson acquired 2,475 shares of Commercial Metals stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the acquisition, the director now directly owns 15,141 shares in the company, valued at approximately $611,999.22. The trade was a 19.54 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

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.