Commercial Metals (NYSE:CMC) Position Trimmed by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc reduced its stake in Commercial Metals (NYSE:CMC - Free Report) by 14.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 49,511 shares of the basic materials company's stock after selling 8,237 shares during the quarter. Ensign Peak Advisors Inc's holdings in Commercial Metals were worth $2,456,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Boston Partners increased its position in shares of Commercial Metals by 6.4% in the 4th quarter. Boston Partners now owns 4,055,150 shares of the basic materials company's stock valued at $201,178,000 after purchasing an additional 243,921 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Commercial Metals by 11.3% during the 4th 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. Franklin Resources Inc. lifted its stake in shares of Commercial Metals by 87.0% in the 4th quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company's stock worth $95,204,000 after acquiring an additional 893,094 shares during the period. First Trust Advisors LP lifted its stake in shares of Commercial Metals by 34.1% in the 4th quarter. First Trust Advisors LP now owns 1,754,840 shares of the basic materials company's stock worth $87,040,000 after acquiring an additional 446,317 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Commercial Metals by 10.2% in the 4th quarter. Northern Trust Corp now owns 1,749,877 shares of the basic materials company's stock worth $86,794,000 after acquiring an additional 162,201 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Trading Down 0.6%

Shares of Commercial Metals stock traded down $0.27 during mid-day trading on Monday, hitting $47.77. 502,659 shares of the stock were exchanged, compared to its average volume of 959,885. Commercial Metals has a twelve month low of $37.92 and a twelve month high of $64.53. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 43.04, a price-to-earnings-growth ratio of 2.62 and a beta of 1.29. The company has a 50-day simple moving average of $44.86 and a 200 day simple moving average of $50.31. 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 (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 the consensus estimate of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the business earned $0.88 earnings per share. Commercial Metals's revenue for the quarter was down 5.1% on a year-over-year basis. Research analysts forecast that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were given 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 1.51%. Commercial Metals's dividend payout ratio (DPR) is 120.00%.

Insider Activity

In related news, Director John R. Mcpherson purchased 2,475 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the purchase, the director now owns 15,141 shares in the company, valued at approximately $611,999.22. This 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. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CMC shares. UBS Group cut their price target 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. BMO Capital Markets dropped 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. Finally, Morgan Stanley dropped their target price on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target 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.