Guggenheim Capital LLC Has $364,000 Stock Position in Commercial Metals (NYSE:CMC)

Guggenheim Capital LLC reduced its position in Commercial Metals (NYSE:CMC - Free Report) by 59.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,346 shares of the basic materials company's stock after selling 10,720 shares during the period. Guggenheim Capital LLC's holdings in Commercial Metals were worth $364,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Heck Capital Advisors LLC bought a new position in shares of Commercial Metals during the 4th quarter worth approximately $34,000. V Square Quantitative Management LLC boosted its position in 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 worth $35,000 after purchasing an additional 267 shares during the period. Jones Financial Companies Lllp increased its holdings 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 valued at $82,000 after purchasing an additional 297 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Commercial Metals in the fourth quarter valued at about $105,000. Finally, Covestor Ltd raised its position in shares of Commercial Metals by 19.0% in the fourth quarter. Covestor Ltd now owns 2,148 shares of the basic materials company's stock valued at $107,000 after purchasing an additional 343 shares during the period. Institutional investors own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

CMC has been the topic of a number of research reports. BNP Paribas lowered shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research note on Friday, January 3rd. Morgan Stanley lowered their target price on 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. UBS Group decreased their price objective on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Jefferies Financial Group dropped their target price on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, BMO Capital Markets decreased their price target on shares of 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. 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 stock presently has an average rating of "Hold" and a consensus target price of $60.33.

Insider Transactions at Commercial Metals

In related news, Director John R. Mcpherson purchased 2,475 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $40.42 per share, with a total value of $100,039.50. Following the acquisition, the director now owns 15,141 shares of the company's stock, valued at $611,999.22. This trade represents a 19.54 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.46% of the stock is owned by insiders.

Commercial Metals Price Performance

CMC traded up $1.02 on Friday, hitting $46.37. 323,781 shares of the stock were exchanged, compared to its average volume of 953,748. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 41.72, a PEG ratio of 2.62 and a beta of 1.16. 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 12 month low of $37.92 and a 12 month high of $64.53. The business has a 50-day moving average of $44.90 and a two-hundred day moving average of $50.90.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business's revenue was down 5.1% on a year-over-year basis. During the same period last year, the company posted $0.88 EPS. Sell-side analysts forecast that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were paid a $0.18 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.55%. Commercial Metals's payout ratio is 120.00%.

About Commercial Metals

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.