Commercial Metals (NYSE:CMC) Stake Lifted by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lifted its holdings in shares of Commercial Metals (NYSE:CMC - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,262,895 shares of the basic materials company's stock after acquiring an additional 17,360 shares during the period. Jacobs Levy Equity Management Inc. owned 1.11% of Commercial Metals worth $62,640,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Heck Capital Advisors LLC acquired a new stake in Commercial Metals in the fourth quarter valued at $34,000. V Square Quantitative Management LLC increased its position 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 purchasing an additional 267 shares in the last quarter. South Plains Financial Inc. purchased a new stake in Commercial Metals in the 4th quarter valued at about $73,000. Jones Financial Companies Lllp grew its holdings in Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock valued at $82,000 after buying an additional 297 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new stake in Commercial Metals in the 4th quarter valued at about $105,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CMC shares. Morgan Stanley decreased their target price on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. UBS Group reduced their price target on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Finally, BMO Capital Markets cut their target price on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a research report on Friday, March 21st. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $60.33.

Commercial Metals Stock Up 0.0%

Shares of CMC traded up $0.01 during trading on Friday, reaching $48.04. The company's stock had a trading volume of 674,855 shares, compared to its average volume of 961,604. The company has a fifty day moving average of $44.86 and a two-hundred day moving average of $50.34. Commercial Metals has a twelve month low of $37.92 and a twelve month high of $64.53. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 43.28, a P/E/G ratio of 2.62 and a beta of 1.29. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29.

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

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Monday, March 31st. Commercial Metals's dividend payout ratio is currently 120.00%.

Insider Activity at Commercial Metals

In other news, Director John R. Mcpherson purchased 2,475 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost 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. The trade was a 19.54% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.46% of the company's stock.

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.