AdvisorShares Investments LLC Buys Shares of 8,220 Commercial Metals (NYSE:CMC)

AdvisorShares Investments LLC bought a new position in Commercial Metals (NYSE:CMC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,220 shares of the basic materials company's stock, valued at approximately $408,000.

Several other institutional investors have also recently bought and sold shares of CMC. Norges Bank bought a new stake in shares of Commercial Metals during the fourth quarter worth approximately $69,261,000. Franklin Resources Inc. boosted its position in shares of 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 during the last quarter. JPMorgan Chase & Co. increased its holdings in Commercial Metals by 45.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,576,316 shares of the basic materials company's stock valued at $78,185,000 after purchasing an additional 495,163 shares during the last quarter. First Trust Advisors LP lifted its stake in Commercial Metals by 34.1% in the fourth quarter. First Trust Advisors LP now owns 1,754,840 shares of the basic materials company's stock valued at $87,040,000 after buying an additional 446,317 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of 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 worth $120,152,000 after buying an additional 245,468 shares during the period. Institutional investors own 86.90% of the company's stock.

Commercial Metals Stock Up 2.5 %

Commercial Metals stock traded up $1.14 during mid-day trading on Friday, reaching $46.49. The stock had a trading volume of 919,715 shares, compared to its average volume of 955,659. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. Commercial Metals has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The firm has a market capitalization of $5.25 billion, a PE ratio of 41.88, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. The stock's 50-day simple moving average is $44.83 and its 200-day simple moving average is $50.83.

Commercial Metals (NYSE:CMC - Get Free Report) last posted 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 return on equity of 9.88% and a net margin of 1.70%. The business's quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.88 EPS. On average, sell-side analysts forecast that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals's payout ratio is currently 120.00%.

Insider Activity

In other Commercial Metals news, Director John R. Mcpherson acquired 2,475 shares of the business's stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $40.42 per share, with a total value of $100,039.50. Following the completion of the acquisition, the director now owns 15,141 shares of the company's stock, valued at $611,999.22. This trade represents a 19.54 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

CMC has been the topic of several research analyst reports. Jefferies Financial Group dropped their price objective on Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. BMO Capital Markets decreased 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 note on Friday, March 21st. UBS Group cut their price target on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, Morgan Stanley cut 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 note on Friday, March 7th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $60.33.

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.