MetLife Investment Management LLC Buys 7,195 Shares of Commercial Metals (NYSE:CMC)

MetLife Investment Management LLC raised its position in shares of Commercial Metals (NYSE:CMC - Free Report) by 5.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,553 shares of the basic materials company's stock after purchasing an additional 7,195 shares during the quarter. MetLife Investment Management LLC owned 0.11% of Commercial Metals worth $6,475,000 at the end of the most recent quarter.

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

Commercial Metals Trading Down 0.0 %

CMC traded down $0.01 during mid-day trading on Monday, hitting $44.15. The stock had a trading volume of 106,286 shares, compared to its average volume of 951,560. The stock's fifty day simple moving average is $45.37 and its 200-day simple moving average is $51.11. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 39.76, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. 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.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The business's revenue was down 5.1% on a year-over-year basis. As a group, research analysts forecast that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals's payout ratio is currently 120.00%.

Analysts Set New Price Targets

CMC has been the subject of several analyst reports. BNP Paribas downgraded Commercial Metals from an "outperform" rating to a "neutral" rating in a research report on Friday, January 3rd. UBS Group decreased their target price on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Morgan Stanley cut their price target 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 reduced their price objective 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. Finally, Jefferies Financial Group dropped their price objective on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Commercial Metals has a consensus rating of "Hold" and a consensus target price of $60.33.

Insider Transactions at Commercial Metals

In other news, Director John R. Mcpherson bought 2,475 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price 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 $611,999.22. This represents a 19.54 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.46% of the stock is owned by insiders.

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.