Gotham Asset Management LLC Raises Position in Commercial Metals (NYSE:CMC)

Gotham Asset Management LLC grew its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 173.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,644 shares of the basic materials company's stock after purchasing an additional 28,323 shares during the quarter. Gotham Asset Management LLC's holdings in Commercial Metals were worth $2,214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in Commercial Metals during the 4th quarter valued at approximately $34,000. V Square Quantitative Management LLC lifted its stake in shares of Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 267 shares during the period. South Plains Financial Inc. bought a new stake in shares of Commercial Metals during the fourth quarter valued at approximately $73,000. Jones Financial Companies Lllp grew its stake in Commercial Metals by 22.0% in the fourth 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 period. Finally, New Age Alpha Advisors LLC purchased a new position in Commercial Metals during the fourth quarter valued at $105,000. Institutional investors own 86.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CMC. BMO Capital Markets cut their price target on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a research note on Friday, March 21st. UBS Group cut their target price on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. Finally, Morgan Stanley dropped their price target on shares of 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. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Commercial Metals currently has an average rating of "Hold" and an average price target of $60.33.

Insider Activity at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson purchased 2,475 shares of Commercial Metals stock in a transaction dated Friday, April 4th. The stock was acquired at an average price of $40.42 per share, for a total transaction 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Commercial Metals Trading Down 0.6%

Commercial Metals stock traded down $0.27 during trading hours on Monday, hitting $47.77. The company had a trading volume of 502,659 shares, compared to its average volume of 959,885. 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 firm has a market cap of $5.40 billion, a P/E ratio of 43.04, a P/E/G ratio of 2.62 and a beta of 1.29. The company has a 50-day moving average price of $44.86 and a two-hundred day moving average price of $50.31. Commercial Metals has a 1 year low of $37.92 and a 1 year 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 analysts' consensus estimates of $0.31 by ($0.05). The firm had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. On average, sell-side analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were issued a $0.18 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.51%. Commercial Metals's payout ratio is currently 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.