DekaBank Deutsche Girozentrale Acquires 100,160 Shares of Commercial Metals (NYSE:CMC)

DekaBank Deutsche Girozentrale lifted its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 270.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 137,240 shares of the basic materials company's stock after purchasing an additional 100,160 shares during the period. DekaBank Deutsche Girozentrale owned 0.12% of Commercial Metals worth $6,918,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CMC. Norges Bank purchased a new stake in shares of Commercial Metals during the 4th quarter worth approximately $114,477,000. State Street Corp boosted its holdings in Commercial Metals by 22.3% in the 1st quarter. State Street Corp now owns 7,494,116 shares of the basic materials company's stock worth $312,971,000 after buying an additional 1,367,997 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in Commercial Metals by 26.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,506,247 shares of the basic materials company's stock worth $123,834,000 after buying an additional 527,709 shares during the period. Vanguard Group Inc. boosted its holdings in Commercial Metals by 4.1% in the 3rd quarter. Vanguard Group Inc. now owns 12,450,082 shares of the basic materials company's stock worth $615,159,000 after buying an additional 487,792 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Commercial Metals by 33.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,652,812 shares of the basic materials company's stock worth $68,790,000 after buying an additional 409,679 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Analysts Set New Price Targets

CMC has been the subject of several analyst reports. UBS Group initiated coverage on shares of Commercial Metals in a report on Tuesday, January 16th. They issued a "buy" rating and a $65.00 price objective for the company. StockNews.com raised shares of Commercial Metals from a "hold" rating to a "buy" rating in a report on Wednesday. Finally, BMO Capital Markets raised their price objective on shares of Commercial Metals from $52.00 to $60.00 and gave the stock a "market perform" rating in a report on Friday, March 22nd.

Insider Transactions at Commercial Metals

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

Commercial Metals Price Performance

NYSE:CMC traded down $0.66 during trading hours on Thursday, hitting $56.56. The stock had a trading volume of 606,569 shares, compared to its average volume of 1,023,978. The company has a 50 day simple moving average of $55.02 and a two-hundred day simple moving average of $49.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.19 and a quick ratio of 2.69. Commercial Metals has a one year low of $39.85 and a one year high of $59.81. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 9.82 and a beta of 1.33.

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

Commercial Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.27%. This is an increase from Commercial Metals's previous quarterly dividend of $0.16. The ex-dividend date was Thursday, March 28th. Commercial Metals's dividend payout ratio (DPR) is presently 12.50%.

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.