42,381 Shares in Commercial Metals (NYSE:CMC) Bought by Neo Ivy Capital Management

Neo Ivy Capital Management acquired a new stake in Commercial Metals (NYSE:CMC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 42,381 shares of the basic materials company's stock, valued at approximately $2,102,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMC. Norges Bank purchased a new position in shares of Commercial Metals in the fourth quarter valued at $69,261,000. Franklin Resources Inc. grew its position in shares of Commercial Metals by 87.0% in 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 purchasing an additional 893,094 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in Commercial Metals by 15,350.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 568,095 shares of the basic materials company's stock valued at $28,178,000 after buying an additional 564,418 shares in the last quarter. JPMorgan Chase & Co. increased its position in 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 worth $78,185,000 after buying an additional 495,163 shares in the last quarter. Finally, First Trust Advisors LP increased its position in 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 worth $87,040,000 after buying an additional 446,317 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CMC. Morgan Stanley decreased their price objective on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. UBS Group lowered their price target on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Wolfe Research raised shares of Commercial Metals from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research note on Tuesday. Finally, BMO Capital Markets lowered their target price 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. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Commercial Metals presently has an average rating of "Hold" and a consensus target price of $58.86.

Insider Activity at Commercial Metals

In related news, Director John R. Mcpherson bought 2,475 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $40.42 per share, with a total value of $100,039.50. Following the completion of the transaction, the director now directly owns 15,141 shares of the company's stock, valued at approximately $611,999.22. This represents a 19.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by insiders.

Commercial Metals Trading Down 2.4%

Shares of NYSE CMC traded down $1.19 during midday trading on Wednesday, hitting $47.69. The stock had a trading volume of 234,488 shares, compared to its average volume of 958,932. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $64.53. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 42.95, a PEG ratio of 2.62 and a beta of 1.29. The company has a fifty day moving average price of $45.02 and a 200 day moving average price of $49.83.

Commercial Metals (NYSE:CMC - Get Free Report) last announced 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). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm earned $0.88 earnings per share. The company's quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts predict that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were given a dividend of $0.18 per share. The ex-dividend date was Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.51%. Commercial Metals's dividend payout ratio (DPR) is 120.00%.

About Commercial Metals

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.