LSV Asset Management Boosts Stock Position in Commercial Metals (NYSE:CMC)

LSV Asset Management grew its holdings in shares of Commercial Metals (NYSE:CMC - Free Report) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 252,600 shares of the basic materials company's stock after purchasing an additional 6,500 shares during the quarter. LSV Asset Management owned about 0.22% of Commercial Metals worth $12,529,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in Commercial Metals in the 4th quarter valued at approximately $34,000. V Square Quantitative Management LLC boosted its holdings in shares of Commercial Metals by 60.7% in the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after acquiring an additional 267 shares during the period. Jones Financial Companies Lllp grew its position 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 in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Commercial Metals during the 4th quarter valued at $105,000. Finally, Amundi lifted its holdings in Commercial Metals by 29.9% during the 4th quarter. Amundi now owns 2,189 shares of the basic materials company's stock worth $108,000 after purchasing an additional 504 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Commercial Metals Price Performance

NYSE CMC traded up $0.62 during trading hours on Friday, reaching $42.32. 888,354 shares of the stock traded hands, compared to its average volume of 951,607. The stock has a 50 day simple moving average of $46.38 and a two-hundred day simple moving average of $51.55. Commercial Metals has a 1 year low of $37.92 and a 1 year 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 company has a market cap of $4.78 billion, a price-to-earnings ratio of 38.13, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16.

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

Commercial Metals Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.70%. Commercial Metals's dividend payout ratio (DPR) is 120.00%.

Insider Activity at Commercial Metals

In related news, Director John R. Mcpherson purchased 2,475 shares of Commercial Metals 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 transaction, the director now directly owns 15,141 shares in the company, valued at $611,999.22. The trade was a 19.54 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on CMC shares. Morgan Stanley reduced 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. BMO Capital Markets decreased 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. BNP Paribas lowered shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research report on Friday, January 3rd. UBS Group lowered their price objective 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, Jefferies Financial Group reduced their target price 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. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Commercial Metals currently has a consensus rating of "Hold" and a consensus target price of $60.33.

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.