Nuveen Asset Management LLC Has $47.84 Million Stock Position in Commercial Metals (NYSE:CMC)

Nuveen Asset Management LLC lifted its position in Commercial Metals (NYSE:CMC - Free Report) by 12.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 964,438 shares of the basic materials company's stock after buying an additional 104,071 shares during the quarter. Nuveen Asset Management LLC owned about 0.85% of Commercial Metals worth $47,836,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Heck Capital Advisors LLC bought a new position in Commercial Metals during the fourth quarter worth $34,000. V Square Quantitative Management LLC increased its position in Commercial Metals by 60.7% during the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after acquiring an additional 267 shares during the period. South Plains Financial Inc. bought a new position in Commercial Metals during the fourth quarter worth $73,000. Jones Financial Companies Lllp increased its position in Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock worth $82,000 after acquiring an additional 297 shares during the period. Finally, New Age Alpha Advisors LLC bought a new position in Commercial Metals during the fourth quarter worth $105,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Trading Down 0.6%

Shares of Commercial Metals stock opened at $47.77 on Tuesday. The firm has a market capitalization of $5.40 billion, a PE ratio of 43.04, a price-to-earnings-growth ratio of 2.62 and a beta of 1.29. 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 company's fifty day moving average price is $44.92 and its two-hundred day moving average price is $50.27. Commercial Metals has a 52-week low of $37.92 and a 52-week high of $64.53.

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 (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The company's quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS. On average, analysts expect that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

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

Insider Buying and Selling at Commercial Metals

In other news, Director John R. Mcpherson bought 2,475 shares of the stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $40.42 per share, with a total value of $100,039.50. Following the acquisition, the director now owns 15,141 shares in the company, valued at $611,999.22. This trade represents a 19.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.46% of the company's stock.

Analyst Upgrades and Downgrades

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

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.

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