Commercial Metals (NYSE:CMC) Stock Holdings Boosted by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd raised its position in Commercial Metals (NYSE:CMC - Free Report) by 5,796.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,844 shares of the basic materials company's stock after buying an additional 8,694 shares during the period. Aster Capital Management DIFC Ltd's holdings in Commercial Metals were worth $439,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its holdings in Commercial Metals by 5.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 362,845 shares of the basic materials company's stock valued at $17,997,000 after purchasing an additional 19,353 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Commercial Metals by 26.4% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 85,338 shares of the basic materials company's stock valued at $4,233,000 after buying an additional 17,827 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Commercial Metals during the fourth quarter worth approximately $378,000. Grant Private Wealth Management Inc bought a new stake in shares of Commercial Metals in the fourth quarter worth $203,000. Finally, Trexquant Investment LP raised its holdings in Commercial Metals by 130.3% in the fourth quarter. Trexquant Investment LP now owns 388,408 shares of the basic materials company's stock valued at $19,265,000 after acquiring an additional 219,745 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Commercial Metals

In related news, Director John R. Mcpherson acquired 2,475 shares of Commercial Metals stock in a transaction that occurred on Friday, April 4th. The stock was acquired 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 directly owns 15,141 shares of the company's stock, valued at $611,999.22. This trade represents a 19.54 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CMC. UBS Group decreased their price objective 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. BMO Capital Markets lowered their price objective 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. Jefferies Financial Group reduced their target price on Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Morgan Stanley lowered their price target on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Finally, BNP Paribas cut Commercial Metals from an "outperform" rating to a "neutral" rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $60.33.

Commercial Metals Stock Performance

NYSE CMC traded up $0.08 during trading hours on Friday, hitting $41.93. The company had a trading volume of 1,677,515 shares, compared to its average volume of 949,073. 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 firm has a market cap of $4.74 billion, a P/E ratio of 37.78, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. Commercial Metals has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The business has a fifty day simple moving average of $47.01 and a 200-day simple moving average of $51.89.

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). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The company's revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts predict that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were given a dividend of $0.18 per share. The ex-dividend date was Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.72%. Commercial Metals's dividend payout ratio (DPR) is presently 120.00%.

Commercial Metals Company 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.