Hsbc Holdings PLC Increases Holdings in Commercial Metals (NYSE:CMC)

Hsbc Holdings PLC raised its position in shares of Commercial Metals (NYSE:CMC - Free Report) by 346.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 121,185 shares of the basic materials company's stock after purchasing an additional 94,069 shares during the quarter. Hsbc Holdings PLC owned 0.11% of Commercial Metals worth $6,035,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in shares of Commercial Metals by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,081,153 shares of the basic materials company's stock worth $59,420,000 after purchasing an additional 66,092 shares during the period. Principal Financial Group Inc. raised its holdings in Commercial Metals by 1.1% during the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company's stock valued at $94,208,000 after buying an additional 17,931 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Commercial Metals by 66.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 71,151 shares of the basic materials company's stock worth $3,529,000 after acquiring an additional 28,297 shares in the last quarter. Covea Finance raised its stake in shares of Commercial Metals by 44.2% in the 4th quarter. Covea Finance now owns 62,000 shares of the basic materials company's stock valued at $3,075,000 after acquiring an additional 19,000 shares in the last quarter. Finally, Spring Capital Management LLC acquired a new stake in shares of Commercial Metals in the fourth quarter valued at about $248,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Commercial Metals news, Director John R. Mcpherson acquired 2,475 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the acquisition, the director now directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CMC shares. Jefferies Financial Group cut their price objective on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Monday, January 6th. BMO Capital Markets dropped their price target on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a report on Friday, March 21st. UBS Group decreased their target price on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Morgan Stanley dropped their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. Finally, BNP Paribas downgraded shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $60.33.

Commercial Metals Trading Up 2.5 %

NYSE:CMC traded up $1.14 on Friday, reaching $46.49. The stock had a trading volume of 919,715 shares, compared to its average volume of 955,988. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 41.88, a P/E/G ratio of 2.62 and a beta of 1.16. Commercial Metals has a 12-month low of $37.92 and a 12-month high of $64.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The firm's fifty day moving average is $44.90 and its two-hundred day moving average is $50.90.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals's revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 EPS. Equities analysts expect that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently announced 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 dividend payout ratio (DPR) is currently 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.