Commercial Metals (NYSE:CMC) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC trimmed its position in shares of Commercial Metals (NYSE:CMC - Free Report) by 16.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 425,761 shares of the basic materials company's stock after selling 84,588 shares during the quarter. AQR Capital Management LLC owned approximately 0.37% of Commercial Metals worth $21,118,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CMC. Heck Capital Advisors LLC purchased a new position in Commercial Metals in the 4th quarter worth approximately $34,000. V Square Quantitative Management LLC increased its holdings in shares of Commercial Metals by 60.7% in the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 267 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock worth $82,000 after buying an additional 297 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Commercial Metals in the 4th quarter valued at $105,000. Finally, Covestor Ltd increased its stake in shares of Commercial Metals by 19.0% in the 4th quarter. Covestor Ltd now owns 2,148 shares of the basic materials company's stock worth $107,000 after acquiring an additional 343 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Trading Down 0.1 %

NYSE CMC traded down $0.04 during trading on Friday, hitting $46.11. The stock had a trading volume of 378,094 shares, compared to its average volume of 954,317. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $5.21 billion, a PE ratio of 41.54, a PEG ratio of 2.62 and a beta of 1.29. The firm has a 50 day moving average price of $44.60 and a 200 day moving average price of $50.53. Commercial Metals has a twelve month low of $37.92 and a twelve month high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its earnings results 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). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the previous year, the company earned $0.88 earnings per share. Commercial Metals's quarterly revenue was down 5.1% on a year-over-year basis. As a group, equities research analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. 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 report on Monday, March 24th. Morgan Stanley reduced their target price on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Friday, March 7th. Finally, BMO Capital Markets lowered their price target on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a report on Friday, March 21st. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $60.33.

Insider Buying and Selling

In other news, Director John R. Mcpherson purchased 2,475 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the purchase, the director now directly owns 15,141 shares of the company's stock, valued at $611,999.22. This represents a 19.54 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is currently owned by insiders.

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.