ExodusPoint Capital Management LP Sells 333,688 Shares of Commercial Metals (NYSE:CMC)

ExodusPoint Capital Management LP lowered its holdings in shares of Commercial Metals (NYSE:CMC - Free Report) by 88.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,334 shares of the basic materials company's stock after selling 333,688 shares during the quarter. ExodusPoint Capital Management LP's holdings in Commercial Metals were worth $2,249,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its position in shares of Commercial Metals by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,081,153 shares of the basic materials company's stock valued at $59,420,000 after buying an additional 66,092 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Commercial Metals by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company's stock valued at $94,208,000 after purchasing an additional 17,931 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Commercial Metals by 66.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 71,151 shares of the basic materials company's stock valued at $3,529,000 after purchasing an additional 28,297 shares in the last quarter. Vestcor Inc increased its holdings in shares of Commercial Metals by 108.0% in the third quarter. Vestcor Inc now owns 18,103 shares of the basic materials company's stock worth $995,000 after purchasing an additional 9,400 shares during the last quarter. Finally, Covea Finance increased its holdings in shares of Commercial Metals by 44.2% in the fourth quarter. Covea Finance now owns 62,000 shares of the basic materials company's stock worth $3,075,000 after purchasing an additional 19,000 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Commercial Metals Trading Up 0.2 %

CMC traded up $0.08 on Friday, reaching $41.93. 1,677,515 shares of the company traded hands, compared to its average volume of 949,073. The company has a market cap of $4.74 billion, a P/E ratio of 37.78, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. 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 one year low of $37.92 and a one year high of $64.53. The firm has a fifty day simple moving average of $47.01 and a two-hundred day simple moving average of $51.89.

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

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Monday, March 31st. Commercial Metals's payout ratio is 120.00%.

Analyst Ratings Changes

CMC has been the subject of several research analyst reports. BNP Paribas cut Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. BMO Capital Markets dropped their price objective on shares of 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. Jefferies Financial Group lowered their price target on shares of Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a report on Monday, January 6th. UBS Group decreased their price objective on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Finally, Morgan Stanley cut their target price on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $60.33.

Insider Activity

In other Commercial Metals news, Director John R. Mcpherson acquired 2,475 shares of the company's stock in a transaction dated Friday, April 4th. The shares were purchased at an average cost 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 trade represents a 19.54 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.46% of the company's stock.

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.