Sherbrooke Park Advisers LLC Purchases New Position in Commercial Metals (NYSE:CMC)

Sherbrooke Park Advisers LLC acquired a new stake in shares of Commercial Metals (NYSE:CMC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,209 shares of the basic materials company's stock, valued at approximately $308,000.

A number of other hedge funds also recently bought and sold shares of the company. ProShare Advisors LLC increased its position in Commercial Metals by 39.2% during the fourth quarter. ProShare Advisors LLC now owns 37,417 shares of the basic materials company's stock valued at $1,856,000 after acquiring an additional 10,534 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in Commercial Metals during the fourth quarter valued at $748,000. Nuveen Asset Management LLC increased its position in Commercial Metals by 12.1% during the fourth quarter. Nuveen Asset Management LLC now owns 964,438 shares of the basic materials company's stock valued at $47,836,000 after acquiring an additional 104,071 shares during the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Commercial Metals during the fourth quarter valued at $7,205,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Commercial Metals by 5.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 864,544 shares of the basic materials company's stock valued at $42,881,000 after acquiring an additional 46,057 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Buying and Selling

In other news, Director John R. Mcpherson purchased 2,475 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of $40.42 per share, with a total value of $100,039.50. Following the completion of the purchase, 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 legal filing with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. UBS Group reduced their price target on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Morgan Stanley reduced their price target on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a research report on Friday, March 7th. Finally, BMO Capital Markets reduced their price target on 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. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Commercial Metals presently has a consensus rating of "Hold" and an average price target of $60.33.

Commercial Metals Price Performance

Shares of NYSE:CMC traded down $0.52 during trading on Friday, hitting $46.19. 880,918 shares of the company's stock were exchanged, compared to its average volume of 961,275. 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 has a 52-week low of $37.92 and a 52-week high of $64.53. The business's 50-day simple moving average is $45.00 and its 200 day simple moving average is $50.02. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 41.61, a PEG ratio of 2.62 and a beta of 1.29.

Commercial Metals (NYSE:CMC - Get Free Report) last released its 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). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.73 billion. During the same quarter in the prior year, the business posted $0.88 EPS. The business's revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, equities analysts predict that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently announced 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. 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 is currently 120.00%.

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.