Bessemer Group Inc. Cuts Stake in Commercial Metals (NYSE:CMC)

Bessemer Group Inc. cut its holdings in Commercial Metals (NYSE:CMC - Free Report) by 99.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,449 shares of the basic materials company's stock after selling 326,435 shares during the period. Bessemer Group Inc.'s holdings in Commercial Metals were worth $171,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Heck Capital Advisors LLC purchased a new position in shares of Commercial Metals in the fourth quarter worth $34,000. V Square Quantitative Management LLC increased its holdings 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 acquiring an additional 267 shares during the last quarter. 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 worth $82,000 after purchasing an additional 297 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Commercial Metals in the 4th quarter worth $105,000. Finally, Amundi boosted its holdings in shares of Commercial Metals by 29.9% during the 4th quarter. Amundi now owns 2,189 shares of the basic materials company's stock valued at $108,000 after purchasing an additional 504 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director John R. Mcpherson bought 2,475 shares of Commercial Metals stock in a transaction dated 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 owns 15,141 shares in the company, valued at $611,999.22. The trade was a 19.54 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on CMC. BNP Paribas downgraded Commercial Metals from an "outperform" rating to a "neutral" rating in a research report on Friday, January 3rd. Morgan Stanley decreased their price objective on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. BMO Capital Markets cut their target price on shares of 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 decreased their price target on shares of Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, UBS Group dropped their price objective 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 assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $60.33.

Commercial Metals Trading Up 3.0 %

NYSE CMC traded up $1.23 on Tuesday, hitting $42.84. 581,724 shares of the stock were exchanged, compared to its average volume of 953,686. Commercial Metals has a 52-week low of $37.92 and a 52-week high of $64.53. The firm has a market capitalization of $4.84 billion, a P/E ratio of 38.60, a P/E/G ratio of 2.62 and a beta of 1.16. 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 stock has a fifty day moving average price of $45.89 and a two-hundred day moving average price of $51.31.

Commercial Metals (NYSE:CMC - Get Free Report) last issued 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). The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. Research analysts forecast that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.68%. The ex-dividend date was Monday, March 31st. 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.