48,061 Shares in Commercial Metals (NYSE:CMC) Purchased by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP acquired a new position in shares of Commercial Metals (NYSE:CMC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 48,061 shares of the basic materials company's stock, valued at approximately $2,384,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in Commercial Metals in the fourth 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 in the last quarter. South Plains Financial Inc. acquired a new stake in shares of Commercial Metals during the 4th quarter worth approximately $73,000. Jones Financial Companies Lllp grew its holdings in shares of 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 during the period. Finally, New Age Alpha Advisors LLC bought a new stake in Commercial Metals during the fourth quarter worth $105,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Stock Up 4.2%

NYSE CMC traded up $1.93 on Monday, hitting $48.02. 157,070 shares of the stock traded hands, compared to its average volume of 953,104. The company has a market capitalization of $5.43 billion, a P/E ratio of 43.26, a price-to-earnings-growth ratio of 2.62 and a beta of 1.29. The stock has a 50-day moving average of $44.60 and a 200 day moving average of $50.52. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. 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 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 firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 EPS. As a group, analysts expect that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.50%. Commercial Metals's dividend payout ratio is 120.00%.

Insider Activity at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson bought 2,475 shares of the firm's 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 purchase, the director now directly owns 15,141 shares of the company's stock, valued at approximately $611,999.22. This trade represents a 19.54% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Morgan Stanley cut their target price on shares of 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. BMO Capital Markets dropped 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. Finally, UBS Group cut 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. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $60.33.

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.