Commercial Metals Company $CMC Position Boosted by Danske Bank A S

Key Points

• Danske Bank dramatically boosted its stake in Commercial Metals by 8,939.3% in Q4, buying an additional 178,786 shares to hold 180,786 shares (about 0.16% of the company) worth roughly $12.5M.
• Commercial Metals reported quarterly EPS of $1.16, missing the consensus by $0.12, while revenue rose 21.5% year-over-year to $2.13 billion, slightly beating estimates.
• The company raised its quarterly dividend to $0.20 (from $0.18), implying an $0.80 annualized payout and a yield of about 1.2% with a dividend payout ratio near 16%.

Danske Bank A S lifted its stake in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 8,939.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 180,786 shares of the basic materials company's stock after purchasing an additional 178,786 shares during the period. Danske Bank A S owned about 0.16% of Commercial Metals worth $12,514,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. State Street Corp lifted its holdings in Commercial Metals by 2.6% in the third quarter. State Street Corp now owns 6,270,373 shares of the basic materials company's stock worth $359,167,000 after acquiring an additional 161,195 shares during the last quarter. Boston Partners lifted its holdings in Commercial Metals by 1.9% in the third quarter. Boston Partners now owns 3,641,930 shares of the basic materials company's stock worth $208,629,000 after acquiring an additional 67,139 shares during the last quarter. American Century Companies Inc. lifted its holdings in Commercial Metals by 6.6% in the third quarter. American Century Companies Inc. now owns 1,823,923 shares of the basic materials company's stock worth $104,474,000 after acquiring an additional 112,267 shares during the last quarter. Invesco Ltd. lifted its holdings in Commercial Metals by 4.8% in the third quarter. Invesco Ltd. now owns 1,661,027 shares of the basic materials company's stock worth $95,144,000 after acquiring an additional 76,365 shares during the last quarter. Finally, UBS Group AG lifted its holdings in Commercial Metals by 41.8% in the third quarter. UBS Group AG now owns 1,521,130 shares of the basic materials company's stock worth $87,130,000 after acquiring an additional 448,083 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Insider Activity at Commercial Metals

In other Commercial Metals news, insider Jennifer J. Durbin sold 25,050 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $79.97, for a total value of $2,003,248.50. Following the sale, the insider owned 52,880 shares in the company, valued at approximately $4,228,813.60. This trade represents a 32.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.62% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Commercial Metals in a report on Wednesday, January 21st. Wells Fargo & Company cut their target price on shares of Commercial Metals from $80.00 to $77.00 and set an "overweight" rating on the stock in a report on Friday, March 27th. Jefferies Financial Group set a $85.00 target price on shares of Commercial Metals and gave the stock a "buy" rating in a report on Thursday, January 8th. Wall Street Zen cut shares of Commercial Metals from a "strong-buy" rating to a "buy" rating in a report on Saturday, April 4th. Finally, JPMorgan Chase & Co. cut their target price on shares of Commercial Metals from $83.00 to $78.00 and set an "overweight" rating on the stock in a report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $71.50.

Commercial Metals Price Performance

Shares of NYSE:CMC opened at $68.54 on Monday. The firm's 50 day moving average is $66.05 and its two-hundred day moving average is $67.81. Commercial Metals Company has a 52 week low of $44.67 and a 52 week high of $84.87. The firm has a market capitalization of $7.60 billion, a P/E ratio of 15.26, a PEG ratio of 0.39 and a beta of 1.49. The company has a current ratio of 2.38, a quick ratio of 1.55 and a debt-to-equity ratio of 0.75.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings results on Thursday, March 26th. The basic materials company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.12). Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the business posted $0.26 EPS. Commercial Metals's revenue for the quarter was up 21.5% compared to the same quarter last year. Analysts anticipate that Commercial Metals Company will post 6.54 earnings per share for the current year.

Commercial Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were paid a $0.20 dividend. The ex-dividend date was Monday, April 6th. This is an increase from Commercial Metals's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. Commercial Metals's dividend payout ratio (DPR) is 16.04%.

About Commercial Metals

Commercial Metals Company NYSE: CMC is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.

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