Nuveen Asset Management LLC Increases Position in Commercial Metals (NYSE:CMC)

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new position in shares of Commercial Metals during the 4th quarter worth about $34,000. V Square Quantitative Management LLC lifted its position 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 buying an additional 267 shares in the last quarter. South Plains Financial Inc. purchased a new stake in shares of Commercial Metals during the 4th quarter worth approximately $73,000. Jones Financial Companies Lllp increased its stake 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 last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Commercial Metals during the 4th quarter worth approximately $105,000. Institutional investors own 86.90% of the company's stock.

Commercial Metals Trading Down 1.1%

Shares of NYSE CMC traded down $0.52 during midday trading on Friday, hitting $46.19. 880,918 shares of the company traded hands, compared to its average volume of 961,275. Commercial Metals has a 12-month low of $37.92 and a 12-month high of $64.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The stock has a 50-day moving average price of $45.00 and a 200 day moving average price of $49.95. The firm 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.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings data 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 business 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%. Commercial Metals's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 EPS. As a group, analysts expect that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals's dividend payout ratio (DPR) is presently 120.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CMC. BMO Capital Markets reduced their price objective 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 objective 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. Finally, Morgan Stanley lowered their price target on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $60.33.

Insiders Place Their Bets

In other Commercial Metals news, Director John R. Mcpherson bought 2,475 shares of Commercial Metals stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of $40.42 per share, with a total value of $100,039.50. Following the completion of the acquisition, the director now owns 15,141 shares in the company, valued at approximately $611,999.22. This represents a 19.54% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate 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.