Farringdon Capital Ltd. Acquires Shares of 8,633 Commercial Metals (NYSE:CMC)

Farringdon Capital Ltd. acquired a new stake in Commercial Metals (NYSE:CMC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,633 shares of the basic materials company's stock, valued at approximately $428,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMC. Norges Bank purchased a new stake in Commercial Metals in the 4th quarter valued at approximately $69,261,000. Franklin Resources Inc. increased its holdings 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 valued at $95,204,000 after purchasing an additional 893,094 shares in the last quarter. JPMorgan Chase & Co. grew its holdings 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 during the last quarter. Victory Capital Management Inc. boosted its position in shares of Commercial Metals by 11.3% in 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 buying an additional 245,468 shares in the last quarter. Finally, Boston Partners grew its position in shares of Commercial Metals by 6.4% in the fourth 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. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Activity

In other news, Director John R. Mcpherson purchased 2,475 shares of Commercial Metals stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on CMC shares. BNP Paribas downgraded shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research note on Friday, January 3rd. Morgan Stanley cut their target price 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. Jefferies Financial Group decreased their target price on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Monday, January 6th. BMO Capital Markets reduced their target price on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a research report on Friday, March 21st. Finally, UBS Group lowered 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 report on Monday, March 24th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Commercial Metals currently has an average rating of "Hold" and an average target price of $60.33.

Commercial Metals Price Performance

Shares of NYSE CMC traded up $0.72 during mid-day trading on Wednesday, reaching $43.53. The company had a trading volume of 185,728 shares, compared to its average volume of 950,673. 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 1-year low of $37.92 and a 1-year high of $64.53. The stock has a market cap of $4.92 billion, a PE ratio of 39.22, a P/E/G ratio of 2.62 and a beta of 1.16. The company has a 50-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 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). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business's quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. On average, equities analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Monday, March 31st. Commercial Metals's dividend payout ratio is currently 120.00%.

Commercial Metals 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.