Commercial Metals (NYSE:CMC) Shares Bought by Algert Global LLC

Algert Global LLC raised its position in shares of Commercial Metals (NYSE:CMC - Free Report) by 19.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 64,775 shares of the basic materials company's stock after purchasing an additional 10,431 shares during the quarter. Algert Global LLC owned 0.06% of Commercial Metals worth $3,213,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in Commercial Metals during the 4th quarter valued at $34,000. V Square Quantitative Management LLC increased its position in Commercial Metals by 60.7% during the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 267 shares during the last quarter. South Plains Financial Inc. bought a new position in Commercial Metals in the fourth quarter valued at about $73,000. Jones Financial Companies Lllp boosted its position in Commercial Metals by 22.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock worth $82,000 after purchasing an additional 297 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Commercial Metals during the 4th quarter valued at about $105,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Price Performance

Commercial Metals stock traded down $0.04 during midday trading on Friday, reaching $46.11. 378,094 shares of the stock traded hands, compared to its average volume of 956,250. The stock has a market cap of $5.21 billion, a P/E ratio of 41.54, a PEG ratio of 2.62 and a beta of 1.29. The stock's fifty day moving average is $44.60 and its 200-day moving average is $50.53. The company has a quick ratio of 1.94, a current ratio of 2.76 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.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate 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 was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 earnings per share. As a group, equities research analysts anticipate that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on CMC. Morgan Stanley reduced their price objective on 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. UBS Group decreased their price objective on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Finally, BMO Capital Markets cut their price objective on 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. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Commercial Metals presently has an average rating of "Hold" and an average price target of $60.33.

Insider Activity

In related news, Director John R. Mcpherson acquired 2,475 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were bought 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 directly owns 15,141 shares in the company, valued at $611,999.22. This trade represents a 19.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.