Commercial Metals (NYSE:CMC) Shares Purchased by Raymond James & Associates

Raymond James & Associates boosted its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 23.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,904 shares of the basic materials company's stock after buying an additional 22,619 shares during the quarter. Raymond James & Associates owned approximately 0.10% of Commercial Metals worth $5,950,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CMC. HM Payson & Co. bought a new position in shares of Commercial Metals during the 3rd quarter worth $25,000. Point72 Asset Management L.P. bought a new position in Commercial Metals during the 2nd quarter worth about $30,000. Quarry LP bought a new position in Commercial Metals during the 1st quarter worth about $30,000. Sunbelt Securities Inc. purchased a new position in Commercial Metals during the 1st quarter valued at about $30,000. Finally, VisionPoint Advisory Group LLC bought a new stake in shares of Commercial Metals in the 2nd quarter valued at about $31,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Commercial Metals

In other Commercial Metals news, CAO Lindsay L. Sloan sold 600 shares of the business's stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $51.52, for a total transaction of $30,912.00. Following the sale, the chief accounting officer now owns 12,338 shares of the company's stock, valued at approximately $635,653.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Barbara Smith sold 142,806 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $49.89, for a total value of $7,124,591.34. Following the transaction, the chairman now directly owns 213,379 shares of the company's stock, valued at $10,645,478.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lindsay L. Sloan sold 600 shares of Commercial Metals stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $51.52, for a total value of $30,912.00. Following the sale, the chief accounting officer now directly owns 12,338 shares of the company's stock, valued at approximately $635,653.76. The disclosure for this sale can be found here. Insiders sold 320,089 shares of company stock valued at $16,383,553 in the last three months. 1.00% of the stock is owned by insiders.

Commercial Metals Stock Up 0.7 %

Shares of Commercial Metals stock traded up $0.43 on Tuesday, reaching $58.25. The stock had a trading volume of 786,460 shares, compared to its average volume of 1,034,797. The company has a quick ratio of 2.69, a current ratio of 4.19 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $6.74 billion, a P/E ratio of 10.11 and a beta of 1.33. The company has a 50 day moving average price of $54.83 and a 200 day moving average price of $49.76. Commercial Metals has a 1 year low of $39.85 and a 1 year high of $59.81.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.88 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.05). Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the previous year, the business earned $1.44 EPS. The firm's revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Commercial Metals will post 5.34 EPS for the current year.

Commercial Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.72 annualized dividend and a dividend yield of 1.24%. This is an increase from Commercial Metals's previous quarterly dividend of $0.16. Commercial Metals's dividend payout ratio is 12.50%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. UBS Group initiated coverage on shares of Commercial Metals in a research note on Tuesday, January 16th. They issued a "buy" rating and a $65.00 price objective for the company. BMO Capital Markets lifted their price target on Commercial Metals from $52.00 to $60.00 and gave the company a "market perform" rating in a report on Friday, March 22nd.

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.