MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Holdings in Commercial Metals (NYSE:CMC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Commercial Metals (NYSE:CMC - Free Report) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 864,544 shares of the basic materials company's stock after buying an additional 46,057 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.76% of Commercial Metals worth $42,881,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMC. Heck Capital Advisors LLC purchased a new stake in shares of Commercial Metals during the fourth quarter worth about $34,000. V Square Quantitative Management LLC increased its stake in shares of 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 worth $35,000 after purchasing an additional 267 shares in the last quarter. South Plains Financial Inc. purchased a new stake in shares of Commercial Metals during the fourth quarter worth about $73,000. Jones Financial Companies Lllp increased its stake in shares of Commercial Metals by 22.0% during the fourth 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 in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Commercial Metals during the fourth quarter worth about $105,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Commercial Metals Price Performance

CMC traded up $0.01 on Friday, reaching $48.04. 674,855 shares of the company's stock were exchanged, compared to its average volume of 959,441. The stock has a market cap of $5.43 billion, a PE ratio of 43.28, a P/E/G ratio of 2.62 and a beta of 1.29. Commercial Metals has a twelve month low of $37.92 and a twelve month high of $64.53. The stock's fifty day moving average price is $44.86 and its 200-day moving average price is $50.37. 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 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 business had revenue of $1.75 billion for 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%. The business's revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 earnings per share. Sell-side analysts expect that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders 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 annualized dividend and a yield of 1.50%. Commercial Metals's payout ratio is 120.00%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CMC shares. BMO Capital Markets cut their target price on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a research note on Friday, March 21st. UBS Group cut their target price on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, Morgan Stanley cut their target price on shares of 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. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $60.33.

Insider Buying and Selling at Commercial Metals

In other news, Director John R. Mcpherson bought 2,475 shares of the firm's stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the acquisition, the director now directly owns 15,141 shares of the company's stock, valued at $611,999.22. This trade represents a 19.54% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by company insiders.

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.