Deutsche Bank AG Acquires 32,473 Shares of Commercial Metals (NYSE:CMC)

Deutsche Bank AG lifted its position in shares of Commercial Metals (NYSE:CMC - Free Report) by 44.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,005 shares of the basic materials company's stock after acquiring an additional 32,473 shares during the period. Deutsche Bank AG owned approximately 0.09% of Commercial Metals worth $5,258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CMC. Norges Bank bought a new position in shares of Commercial Metals during the fourth quarter valued at $69,261,000. Franklin Resources Inc. raised its stake in shares of Commercial Metals by 87.0% during the fourth quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company's stock valued at $95,204,000 after acquiring an additional 893,094 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Commercial Metals by 15,350.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 568,095 shares of the basic materials company's stock valued at $28,178,000 after acquiring an additional 564,418 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Commercial Metals by 45.8% during 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 acquiring an additional 495,163 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Commercial Metals by 34.1% during the fourth quarter. First Trust Advisors LP now owns 1,754,840 shares of the basic materials company's stock valued at $87,040,000 after acquiring an additional 446,317 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Commercial Metals Trading Down 1.1%

NYSE CMC traded down $0.52 during mid-day trading on Friday, reaching $46.19. 880,918 shares of the stock were exchanged, compared to its average volume of 961,275. Commercial Metals has a one year low of $37.92 and a one year high of $64.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The stock has a market cap of $5.22 billion, a P/E ratio of 41.61, a P/E/G ratio of 2.62 and a beta of 1.29. The stock has a 50 day simple moving average of $45.00 and a 200-day simple moving average of $50.02.

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 during the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the firm posted $0.88 earnings per share. The company's revenue for the quarter was down 5.1% on a year-over-year basis. On average, analysts anticipate that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.56%. The ex-dividend date was Monday, March 31st. Commercial Metals's dividend payout ratio (DPR) is currently 120.00%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. BMO Capital Markets dropped their price target 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. UBS Group dropped 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 note on Monday, March 24th. Finally, Morgan Stanley decreased their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $60.33.

Insider Buying and Selling at Commercial Metals

In related news, Director John R. Mcpherson purchased 2,475 shares of the firm's stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $40.42 per share, with a total value 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company's stock.

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.