Assenagon Asset Management S.A. Lowers Holdings in Commercial Metals Company (NYSE:CMC)

Assenagon Asset Management S.A. trimmed its position in Commercial Metals Company (NYSE:CMC - Free Report) by 29.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,414 shares of the basic materials company's stock after selling 20,737 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Commercial Metals were worth $2,320,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Park Square Financial Group LLC bought a new stake in shares of Commercial Metals in the fourth quarter valued at about $33,000. Heck Capital Advisors LLC purchased a new position in Commercial Metals during the 4th quarter valued at about $34,000. V Square Quantitative Management LLC raised its holdings in shares of 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 purchasing an additional 267 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Commercial Metals by 51.9% in the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 268 shares in the last quarter. Finally, South Plains Financial Inc. purchased a new stake in shares of Commercial Metals in the 4th quarter worth approximately $73,000. Institutional investors own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CMC shares. BMO Capital Markets reduced 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. Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating and set a $50.00 price target for the company in a research report on Tuesday, May 27th. Morgan Stanley decreased their price objective on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. started coverage on Commercial Metals in a research note on Friday, May 30th. They issued a "neutral" rating and a $52.00 target price on the stock. Finally, UBS Group decreased their price target 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $58.00.

Insider Transactions at Commercial Metals

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 acquired at an average cost of $40.42 per share, with a total value of $100,039.50. Following the acquisition, the director now directly owns 15,141 shares of the company's stock, valued at approximately $611,999.22. The trade was a 19.54% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.46% of the company's stock.

Commercial Metals Stock Up 0.1%

NYSE CMC traded up $0.06 during trading on Thursday, hitting $49.02. The company's stock had a trading volume of 1,041,034 shares, compared to its average volume of 979,534. Commercial Metals Company has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The company has a market cap of $5.54 billion, a PE ratio of 81.70, a P/E/G ratio of 2.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.82 and a quick ratio of 1.94. The business's 50 day simple moving average is $46.29 and its 200-day simple moving average is $48.57.

Commercial Metals (NYSE:CMC - Get Free Report) last released its earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). The company 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 8.23% and a net margin of 0.94%. The firm's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the business earned $0.88 earnings per share. On average, equities analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.47%. Commercial Metals's dividend payout ratio is currently 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.