Commercial Metals (NYSE:CMC) Shares Purchased by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. boosted its stake in Commercial Metals (NYSE:CMC - Free Report) by 15,350.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 568,095 shares of the basic materials company's stock after buying an additional 564,418 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.50% of Commercial Metals worth $28,178,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CMC. Heck Capital Advisors LLC purchased a new stake in Commercial Metals in the 4th quarter valued at approximately $34,000. V Square Quantitative Management LLC lifted its stake in Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock valued at $35,000 after buying an additional 267 shares in the last quarter. South Plains Financial Inc. purchased a new stake in Commercial Metals in the 4th quarter valued at approximately $73,000. Jones Financial Companies Lllp lifted its stake in Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock valued at $82,000 after buying an additional 297 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in Commercial Metals in the 4th quarter valued at approximately $105,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Buying and Selling

In related news, Director John R. Mcpherson purchased 2,475 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the acquisition, the director now owns 15,141 shares in the company, valued at approximately $611,999.22. This trade represents a 19.54% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Morgan Stanley reduced their price target on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. UBS Group lowered their price objective on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Finally, 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 research report on Friday, March 21st. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $60.33.

Commercial Metals Trading Up 4.1%

Shares of CMC traded up $1.90 during trading hours on Monday, hitting $47.99. The stock had a trading volume of 133,649 shares, compared to its average volume of 953,005. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The firm has a market cap of $5.42 billion, a P/E ratio of 43.23, a P/E/G ratio of 2.62 and a beta of 1.29. The company's fifty day simple moving average is $44.60 and its 200 day simple moving average is $50.52. 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 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). The firm had revenue of $1.75 billion during 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 company's quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business posted $0.88 earnings per share. Equities research analysts forecast that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals's dividend payout ratio (DPR) is currently 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.