12,237 Shares in Commercial Metals (NYSE:CMC) Acquired by Putney Financial Group LLC

Putney Financial Group LLC purchased a new stake in Commercial Metals (NYSE:CMC - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 12,237 shares of the basic materials company's stock, valued at approximately $607,000. Commercial Metals comprises about 0.4% of Putney Financial Group LLC's portfolio, making the stock its 26th largest position.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Commercial Metals during the 4th quarter valued at $69,261,000. Franklin Resources Inc. grew its stake in shares of Commercial Metals by 87.0% during the 4th quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company's stock valued at $95,204,000 after buying an additional 893,094 shares during the period. Balyasny Asset Management L.P. grew its stake in shares of Commercial Metals by 15,350.0% during 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 during the period. JPMorgan Chase & Co. grew its stake in shares of Commercial Metals by 45.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,576,316 shares of the basic materials company's stock valued at $78,185,000 after buying an additional 495,163 shares during the period. Finally, First Trust Advisors LP grew its stake in shares of Commercial Metals by 34.1% during the 4th quarter. First Trust Advisors LP now owns 1,754,840 shares of the basic materials company's stock valued at $87,040,000 after buying an additional 446,317 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMC has been the subject of several research reports. Morgan Stanley lowered 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 note on Friday, March 7th. UBS Group decreased 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 report on Monday, March 24th. BMO Capital Markets decreased 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 report on Friday, March 21st. Finally, Wolfe Research raised shares of Commercial Metals from a "peer perform" rating to an "outperform" rating and set a $50.00 price target for the company in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $58.86.

Insider Activity

In related news, Director John R. Mcpherson acquired 2,475 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the acquisition, the director now directly owns 15,141 shares of the company's stock, valued at approximately $611,999.22. The trade was a 19.54% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.46% of the company's stock.

Commercial Metals Stock Performance

NYSE CMC traded down $1.96 on Wednesday, hitting $46.92. The stock had a trading volume of 833,051 shares, compared to its average volume of 962,477. Commercial Metals has a one year low of $37.92 and a one year high of $64.53. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 42.27, a P/E/G ratio of 2.62 and a beta of 1.29. The company's 50-day moving average is $45.02 and its two-hundred day moving average is $49.83.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings data 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 company 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 revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the business earned $0.88 earnings per share. On average, analysts expect that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals's dividend payout ratio (DPR) is presently 120.00%.

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.