Peirce Capital Management LLC Purchases New Shares in Commercial Metals (NYSE:CMC)

Peirce Capital Management LLC purchased a new position in Commercial Metals (NYSE:CMC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 15,364 shares of the basic materials company's stock, valued at approximately $769,000. Commercial Metals makes up 0.5% of Peirce Capital Management LLC's holdings, making the stock its 20th largest holding.

Other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its stake in Commercial Metals by 3.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,987 shares of the basic materials company's stock valued at $337,000 after acquiring an additional 201 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Commercial Metals by 1.1% during the third quarter. Janney Montgomery Scott LLC now owns 23,471 shares of the basic materials company's stock valued at $1,160,000 after purchasing an additional 247 shares in the last quarter. Inspire Investing LLC grew its position in shares of Commercial Metals by 4.4% during the third quarter. Inspire Investing LLC now owns 6,237 shares of the basic materials company's stock valued at $308,000 after purchasing an additional 261 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in shares of Commercial Metals by 2.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 12,365 shares of the basic materials company's stock worth $605,000 after purchasing an additional 285 shares during the last quarter. Finally, Diversified Trust Co lifted its position in shares of Commercial Metals by 1.2% in the third quarter. Diversified Trust Co now owns 23,810 shares of the basic materials company's stock worth $1,176,000 after buying an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. UBS Group began coverage on Commercial Metals in a report on Tuesday, January 16th. They set a "buy" rating and a $65.00 price target for the company. BMO Capital Markets raised their target price on shares of Commercial Metals from $52.00 to $60.00 and gave the company a "market perform" rating in a report on Friday, March 22nd. Finally, StockNews.com raised shares of Commercial Metals from a "hold" rating to a "buy" rating in a research note on Wednesday, April 10th.

Insider Buying and Selling

In other news, Chairman Barbara Smith sold 35,704 shares of the company's stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total transaction of $2,066,547.52. Following the transaction, the chairman now owns 36,196 shares of the company's stock, valued at $2,095,024.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Chairman Barbara Smith sold 35,704 shares of Commercial Metals stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total transaction of $2,066,547.52. Following the completion of the sale, the chairman now directly owns 36,196 shares in the company, valued at $2,095,024.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Lindsay L. Sloan sold 600 shares of the company's stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $51.52, for a total transaction of $30,912.00. Following the completion of the transaction, the chief accounting officer now owns 12,338 shares in the company, valued at $635,653.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 177,283 shares of company stock valued at $9,258,962. Company insiders own 1.00% of the company's stock.

Commercial Metals Trading Down 1.0 %

NYSE CMC traded down $0.53 during trading hours on Tuesday, hitting $55.23. 507,191 shares of the company were exchanged, compared to its average volume of 1,007,039. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $59.81. 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 50-day moving average price of $55.30 and a 200 day moving average price of $49.97. The stock has a market cap of $6.39 billion, a PE ratio of 9.59 and a beta of 1.33.

Commercial Metals (NYSE:CMC - Get Free Report) last released its earnings results on Thursday, March 21st. The basic materials company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.05). The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.80 billion. Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The business's revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 EPS. 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 announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Monday, April 1st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Thursday, March 28th. This is a positive change from Commercial Metals's previous quarterly dividend of $0.16. Commercial Metals's dividend payout ratio (DPR) is 12.50%.

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.