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

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Commercial Metals (NYSE:CMC - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 864,544 shares of the basic materials company's stock after purchasing an additional 46,057 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.76% of Commercial Metals worth $42,881,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CMC. Boston Partners increased its stake in shares of Commercial Metals by 6.4% in the 4th quarter. Boston Partners now owns 4,055,150 shares of the basic materials company's stock worth $201,178,000 after acquiring an additional 243,921 shares during the last quarter. Victory Capital Management Inc. increased its position in Commercial Metals by 11.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company's stock worth $120,152,000 after purchasing an additional 245,468 shares during the last quarter. Franklin Resources Inc. raised its stake in Commercial Metals by 87.0% during the fourth quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company's stock worth $95,204,000 after purchasing an additional 893,094 shares during the period. First Trust Advisors LP boosted its holdings in Commercial Metals by 34.1% in the 4th quarter. First Trust Advisors LP now owns 1,754,840 shares of the basic materials company's stock valued at $87,040,000 after purchasing an additional 446,317 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Commercial Metals by 10.2% in the 4th quarter. Northern Trust Corp now owns 1,749,877 shares of the basic materials company's stock valued at $86,794,000 after buying an additional 162,201 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insiders Place Their Bets

In related news, Director John R. Mcpherson acquired 2,475 shares of the business's stock in a transaction dated 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 completion of the transaction, the director now owns 15,141 shares of the company's stock, valued at $611,999.22. The trade was a 19.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CMC shares. UBS Group decreased their price objective 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 lowered 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. Finally, BMO Capital Markets reduced their price objective 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. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Commercial Metals has a consensus rating of "Hold" and a consensus target price of $60.33.

Commercial Metals Trading Down 1.0%

Shares of NYSE CMC traded down $0.49 during trading on Monday, reaching $47.55. The stock had a trading volume of 93,795 shares, compared to its average volume of 1,162,333. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The company has a market cap of $5.37 billion, a P/E ratio of 42.84, a PEG ratio of 2.62 and a beta of 1.29. Commercial Metals has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The business's 50-day moving average price is $44.86 and its 200-day moving average price is $50.31.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). The firm had revenue of $1.75 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 earnings per share. On average, equities research analysts predict that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals's payout ratio is currently 120.00%.

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.