Expect Equity LLC Makes New Investment in Commercial Metals (NYSE:CMC)

Expect Equity LLC purchased a new stake in Commercial Metals (NYSE:CMC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 49,545 shares of the basic materials company's stock, valued at approximately $2,457,000. Commercial Metals makes up about 2.6% of Expect Equity LLC's investment portfolio, making the stock its 16th largest holding.

Several other institutional investors and hedge funds also recently modified their holdings of CMC. Ashton Thomas Private Wealth LLC lifted its stake in shares of Commercial Metals by 5.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 4,528 shares of the basic materials company's stock valued at $225,000 after buying an additional 229 shares during the period. Mariner LLC increased its position in Commercial Metals by 0.9% during the fourth quarter. Mariner LLC now owns 24,735 shares of the basic materials company's stock worth $1,227,000 after purchasing an additional 232 shares during the last quarter. Truist Financial Corp increased its position in Commercial Metals by 3.5% during the fourth quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company's stock worth $355,000 after purchasing an additional 242 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in Commercial Metals by 10.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company's stock worth $138,000 after purchasing an additional 254 shares during the last quarter. Finally, Arizona State Retirement System increased its position in Commercial Metals by 0.8% during the fourth quarter. Arizona State Retirement System now owns 33,373 shares of the basic materials company's stock worth $1,655,000 after purchasing an additional 262 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Buying and Selling at Commercial Metals

In related news, Director John R. Mcpherson bought 2,475 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $40.42 per share, with a total value of $100,039.50. Following the completion of the transaction, the director now owns 15,141 shares of the company's stock, valued at $611,999.22. The trade was a 19.54% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.46% of the company's stock.

Commercial Metals Trading Down 0.1%

Shares of CMC traded down $0.04 during midday trading on Friday, hitting $46.11. The stock had a trading volume of 378,094 shares, compared to its average volume of 956,250. Commercial Metals has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The business has a 50-day simple moving average of $44.60 and a two-hundred day simple moving average of $50.52. The firm has a market cap of $5.21 billion, a P/E ratio of 41.54, a price-to-earnings-growth ratio of 2.62 and a beta of 1.29. 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 (NYSE:CMC - Get Free Report) last announced its earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business's quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. As a group, equities analysts forecast that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals's dividend payout ratio (DPR) is presently 120.00%.

Analysts Set New Price Targets

CMC has been the subject of several research analyst reports. BMO Capital Markets dropped their price target on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a research report on Friday, March 21st. Morgan Stanley dropped their price target 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. Finally, UBS Group dropped their price objective on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Commercial Metals presently has a consensus rating of "Hold" and a consensus price target of $60.33.

Commercial Metals Profile

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.