Dynamic Technology Lab Private Ltd Purchases New Shares in Commercial Metals (NYSE:CMC)

Dynamic Technology Lab Private Ltd bought a new position in shares of Commercial Metals (NYSE:CMC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,613 shares of the basic materials company's stock, valued at approximately $378,000.

A number of other institutional investors also recently modified their holdings of CMC. Norges Bank acquired a new stake in shares of Commercial Metals in the fourth quarter valued at approximately $69,261,000. Franklin Resources Inc. grew its holdings in shares of Commercial Metals by 87.0% during the 4th quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company's stock worth $95,204,000 after purchasing an additional 893,094 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Commercial Metals by 45.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,576,316 shares of the basic materials company's stock valued at $78,185,000 after purchasing an additional 495,163 shares in the last quarter. Victory Capital Management Inc. lifted its position in Commercial Metals by 11.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company's stock worth $120,152,000 after purchasing an additional 245,468 shares during the period. Finally, Boston Partners grew its stake in Commercial Metals by 6.4% during the fourth quarter. Boston Partners now owns 4,055,150 shares of the basic materials company's stock worth $201,178,000 after buying an additional 243,921 shares in the last quarter. Institutional investors own 86.90% of the company's stock.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson acquired 2,475 shares of the company's stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $40.42 per share, with a total value of $100,039.50. Following the completion of the purchase, the director now owns 15,141 shares of the company's stock, valued at approximately $611,999.22. This represents a 19.54 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

CMC has been the subject of several analyst reports. UBS Group dropped their target price on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. BMO Capital Markets dropped 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. BNP Paribas downgraded Commercial Metals from an "outperform" rating to a "neutral" rating in a research note on Friday, January 3rd. Morgan Stanley reduced their price target 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. Finally, Jefferies Financial Group lowered their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $60.33.

Commercial Metals Trading Up 0.5 %

CMC stock traded up $0.21 during trading on Tuesday, hitting $42.08. The company had a trading volume of 111,201 shares, compared to its average volume of 946,552. 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 one year low of $37.92 and a one year high of $64.53. The business has a 50-day moving average of $46.87 and a 200-day moving average of $51.78. The stock has a market cap of $4.76 billion, a PE ratio of 37.93, a PEG ratio of 2.62 and a beta of 1.16.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its 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). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the previous year, the company earned $0.88 EPS. The firm's revenue for the quarter was down 5.1% on a year-over-year basis. Research analysts predict 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 issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals's payout ratio is 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.