Lazard Asset Management LLC Has $1.03 Million Stock Position in Commercial Metals (NYSE:CMC)

Lazard Asset Management LLC lowered its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 60.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,826 shares of the basic materials company's stock after selling 32,169 shares during the quarter. Lazard Asset Management LLC's holdings in Commercial Metals were worth $1,031,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CMC. Heck Capital Advisors LLC purchased a new stake in shares of Commercial Metals during the 4th quarter worth about $34,000. V Square Quantitative Management LLC grew its holdings in shares of Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after purchasing an additional 267 shares during the period. South Plains Financial Inc. purchased a new stake in shares of Commercial Metals during the 4th quarter worth about $73,000. Jones Financial Companies Lllp grew its holdings in shares of Commercial Metals by 22.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock worth $82,000 after purchasing an additional 297 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Commercial Metals during the 4th quarter worth about $105,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Insider Activity

In other Commercial Metals news, Director John R. Mcpherson bought 2,475 shares of Commercial Metals stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the purchase, the director now owns 15,141 shares in the company, valued at $611,999.22. This represents a 19.54% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.46% of the company's stock.

Commercial Metals Stock Down 1.1%

NYSE CMC traded down $0.52 on Friday, reaching $46.19. The company had a trading volume of 880,918 shares, compared to its average volume of 961,275. The firm has a market capitalization of $5.22 billion, a PE ratio of 41.61, a P/E/G ratio of 2.62 and a beta of 1.29. Commercial Metals has a 1 year low of $37.92 and a 1 year high of $64.53. The firm has a 50-day moving average of $45.00 and a 200-day moving average of $49.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share 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 analysts' expectations of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm's revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 EPS. On average, equities research analysts anticipate that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on CMC shares. UBS Group decreased their target price on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a report on Monday, March 24th. BMO Capital Markets decreased their target price on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a report on Friday, March 21st. Finally, Morgan Stanley decreased their price target on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Commercial Metals currently has a consensus rating of "Hold" and an average target price of $60.33.

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.