Aquatic Capital Management LLC Makes New $1.37 Million Investment in Commercial Metals (NYSE:CMC)

Aquatic Capital Management LLC purchased a new stake in Commercial Metals (NYSE:CMC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 27,541 shares of the basic materials company's stock, valued at approximately $1,366,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Commercial Metals in the fourth quarter valued at $69,261,000. Franklin Resources Inc. lifted its stake in 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 acquiring an additional 893,094 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Commercial Metals by 45.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,576,316 shares of the basic materials company's stock worth $78,185,000 after acquiring an additional 495,163 shares during the period. First Trust Advisors LP grew its stake in Commercial Metals by 34.1% during the 4th quarter. First Trust Advisors LP now owns 1,754,840 shares of the basic materials company's stock valued at $87,040,000 after acquiring an additional 446,317 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Commercial Metals by 11.3% in the 4th quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company's stock valued at $120,152,000 after purchasing an additional 245,468 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Insider Activity

In other news, Director John R. Mcpherson bought 2,475 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost 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 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 is accessible through this hyperlink. 0.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on CMC shares. Morgan Stanley lowered their price objective on shares of 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. BMO Capital Markets lowered their price target on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a report on Friday, March 21st. BNP Paribas lowered Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. UBS Group lowered their target price 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, Jefferies Financial Group cut their price target on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $60.33.

Commercial Metals Stock Up 2.5 %

NYSE CMC traded up $1.14 during trading on Friday, hitting $46.49. 919,715 shares of the company traded hands, compared to its average volume of 955,269. 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 $5.25 billion, a P/E ratio of 41.88, a PEG ratio of 2.62 and a beta of 1.16. The business has a fifty day simple moving average of $44.83 and a 200 day simple moving average of $50.85. 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 announced its quarterly 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). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the business earned $0.88 EPS. The company's revenue for the quarter was down 5.1% on a year-over-year basis. As a group, sell-side analysts predict 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. Investors of record on Monday, March 31st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 1.55%. Commercial Metals's payout ratio is 120.00%.

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.