Baird Financial Group Inc. Buys 24,411 Shares of Commercial Metals (NYSE:CMC)

Baird Financial Group Inc. grew its holdings in shares of Commercial Metals (NYSE:CMC - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 332,050 shares of the basic materials company's stock after acquiring an additional 24,411 shares during the period. Baird Financial Group Inc. owned 0.29% of Commercial Metals worth $16,470,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new stake in Commercial Metals during the 4th quarter worth about $34,000. V Square Quantitative Management LLC grew its stake in shares of 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 during the period. South Plains Financial Inc. acquired a new stake in shares of Commercial Metals in the 4th quarter valued at about $73,000. Jones Financial Companies Lllp grew its stake 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 acquired a new stake in shares of Commercial Metals in the 4th quarter valued at about $105,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Commercial Metals

In other news, Director John R. Mcpherson bought 2,475 shares of the company's stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $40.42 per share, with a total value of $100,039.50. Following 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company's stock.

Commercial Metals Stock Up 4.1%

CMC stock traded up $1.90 during mid-day trading on Monday, reaching $47.99. 133,649 shares of the company traded hands, compared to its average volume of 953,005. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 43.23, a P/E/G ratio of 2.62 and a beta of 1.29. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. Commercial Metals has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The firm's 50 day moving average price is $44.60 and its 200 day moving average price is $50.52.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. Commercial Metals's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 EPS. As a group, equities research analysts predict that Commercial Metals will post 3.09 EPS 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 dividend of $0.18 per share. 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 (DPR) is currently 120.00%.

Analysts Set New Price Targets

CMC has been the subject of several research reports. BMO Capital Markets reduced their target price on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a research note on Friday, March 21st. Morgan Stanley decreased their price target on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. Finally, UBS Group decreased their price target on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $60.33.

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.