Gotham Asset Management LLC Boosts Stock Holdings in Commercial Metals (NYSE:CMC)

Gotham Asset Management LLC grew its position in shares of Commercial Metals (NYSE:CMC - Free Report) by 173.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in shares of Commercial Metals during the fourth quarter worth about $34,000. V Square Quantitative Management LLC increased its stake in shares of 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 valued at $35,000 after purchasing an additional 267 shares in the last quarter. South Plains Financial Inc. purchased a new position in Commercial Metals during the fourth quarter valued at $73,000. Jones Financial Companies Lllp lifted its stake in shares of 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 buying an additional 297 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Commercial Metals during the fourth quarter valued at $105,000. 86.90% of the stock is currently owned by institutional investors.

Insider Transactions at Commercial Metals

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

Commercial Metals Trading Up 0.1%

CMC stock traded up $0.07 during mid-day trading on Wednesday, reaching $47.55. 124,259 shares of the stock traded hands, compared to its average volume of 953,929. The business has a 50-day moving average price of $44.98 and a two-hundred day moving average price of $50.25. The stock has a market capitalization of $5.37 billion, a PE ratio of 42.85, a PEG ratio of 2.62 and a beta of 1.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. Commercial Metals has a one year low of $37.92 and a one year high of $64.53.

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 analysts' consensus estimates of $0.31 by ($0.05). The business had revenue of $1.75 billion for 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%. Commercial Metals's revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 EPS. Equities research analysts expect that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Morgan Stanley cut their price target on 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. BMO Capital Markets dropped their target price 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, UBS Group cut their price target on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $60.33.

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.