Hancock Whitney Corp Buys New Position in Commercial Metals (NYSE:CMC)

Hancock Whitney Corp acquired a new stake in Commercial Metals (NYSE:CMC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 86,299 shares of the basic materials company's stock, valued at approximately $4,280,000. Hancock Whitney Corp owned 0.08% of Commercial Metals at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new position in shares of Commercial Metals during the 4th quarter worth about $34,000. V Square Quantitative Management LLC raised its stake in Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after buying an additional 267 shares during the period. Jones Financial Companies Lllp boosted its holdings 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 acquiring an additional 297 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Commercial Metals in the fourth quarter valued at approximately $105,000. Finally, Covestor Ltd increased its holdings in shares of Commercial Metals by 19.0% during the fourth quarter. Covestor Ltd now owns 2,148 shares of the basic materials company's stock valued at $107,000 after acquiring an additional 343 shares in the last quarter. Institutional investors own 86.90% of the company's stock.

Insider Activity at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson acquired 2,475 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the transaction, the director now owns 15,141 shares of the company's stock, valued at approximately $611,999.22. This represents a 19.54 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. UBS Group reduced 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 lowered their target price on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a report on Friday, March 21st. Jefferies Financial Group cut their price target on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Morgan Stanley lowered their price objective 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. Finally, BNP Paribas downgraded Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $60.33.

Commercial Metals Stock Performance

Shares of CMC traded down $0.67 on Wednesday, reaching $44.07. 195,916 shares of the company's stock traded hands, compared to its average volume of 952,458. The stock's 50 day simple moving average is $45.09 and its two-hundred day simple moving average is $51.00. The stock has a market cap of $4.98 billion, a PE ratio of 39.70, a PEG ratio of 2.62 and a beta of 1.16. Commercial Metals has a 52-week low of $37.92 and a 52-week high of $64.53. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29.

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 company had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals's quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. On average, analysts forecast that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.63%. 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.