Deutsche Bank AG Buys 466,743 Shares of Commercial Metals Company $CMC

Deutsche Bank AG boosted its stake in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 440.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 572,748 shares of the basic materials company's stock after buying an additional 466,743 shares during the period. Deutsche Bank AG owned about 0.51% of Commercial Metals worth $26,352,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its position in Commercial Metals by 5.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 362,845 shares of the basic materials company's stock valued at $17,997,000 after buying an additional 19,353 shares during the period. Bank of Montreal Can boosted its stake in shares of Commercial Metals by 9.5% during the 4th quarter. Bank of Montreal Can now owns 15,801 shares of the basic materials company's stock worth $784,000 after acquiring an additional 1,369 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Commercial Metals by 395.3% during the 4th quarter. Renaissance Technologies LLC now owns 149,100 shares of the basic materials company's stock worth $7,395,000 after acquiring an additional 119,000 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Commercial Metals by 811.2% during the 4th quarter. Sterling Capital Management LLC now owns 3,654 shares of the basic materials company's stock valued at $181,000 after purchasing an additional 3,253 shares during the period. Finally, Townsquare Capital LLC bought a new stake in shares of Commercial Metals in the fourth quarter valued at approximately $233,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Stock Performance

Shares of CMC stock traded down $0.06 during mid-day trading on Monday, reaching $56.26. The stock had a trading volume of 236,849 shares, compared to its average volume of 1,101,559. The firm's 50 day simple moving average is $51.66 and its 200 day simple moving average is $48.36. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32. Commercial Metals Company has a one year low of $37.92 and a one year high of $64.53. The firm has a market cap of $6.30 billion, a PE ratio of 181.37, a P/E/G ratio of 2.60 and a beta of 1.28.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.11). The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.04 billion. Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%. Commercial Metals's revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.02 EPS. On average, analysts forecast that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th were given a $0.18 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.72 annualized dividend and a yield of 1.3%. Commercial Metals's payout ratio is presently 232.26%.

Analyst Ratings Changes

CMC has been the subject of several research reports. UBS Group reissued a "neutral" rating and issued a $56.00 price objective (up from $48.00) on shares of Commercial Metals in a research report on Wednesday. Morgan Stanley set a $57.50 price objective on Commercial Metals in a research report on Wednesday, June 25th. Jefferies Financial Group reissued a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. Wells Fargo & Company raised Commercial Metals to a "strong-buy" rating in a research report on Thursday. Finally, Wolfe Research upgraded Commercial Metals from a "peer perform" rating to an "outperform" rating in a research report on Friday, June 20th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Commercial Metals presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.81.

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.