AIA Group Ltd Makes New Investment in Commercial Metals (NYSE:CMC)

AIA Group Ltd acquired a new stake in shares of Commercial Metals (NYSE:CMC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,396 shares of the basic materials company's stock, valued at approximately $971,000.

A number of other hedge funds have also recently bought and sold shares of CMC. Federated Hermes Inc. grew its position in shares of Commercial Metals by 2.3% in the 4th quarter. Federated Hermes Inc. now owns 260,740 shares of the basic materials company's stock worth $13,047,000 after acquiring an additional 5,972 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Commercial Metals in the 4th quarter worth approximately $30,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Commercial Metals by 18.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,880 shares of the basic materials company's stock worth $1,595,000 after acquiring an additional 5,007 shares in the last quarter. Peirce Capital Management LLC acquired a new position in shares of Commercial Metals in the 4th quarter worth approximately $769,000. Finally, Oak Family Advisors LLC grew its position in shares of Commercial Metals by 24.0% in the 4th quarter. Oak Family Advisors LLC now owns 20,481 shares of the basic materials company's stock worth $1,025,000 after acquiring an additional 3,969 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, CAO Lindsay L. Sloan sold 600 shares of Commercial Metals stock in a transaction on Friday, January 26th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Lindsay L. Sloan sold 600 shares of the business's stock in a transaction on 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 owns 12,338 shares of the company's stock, valued at approximately $635,653.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Barbara Smith sold 23,619 shares of the business's stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $51.65, for a total value of $1,219,921.35. Following the completion of the sale, the chairman now directly owns 72,400 shares in the company, valued at approximately $3,739,460. The disclosure for this sale can be found here. Insiders have sold 120,089 shares of company stock valued at $6,402,693 in the last quarter. Corporate insiders own 1.00% of the company's stock.

Commercial Metals Stock Performance

NYSE:CMC traded down $0.07 during midday trading on Friday, reaching $55.21. 599,892 shares of the company traded hands, compared to its average volume of 794,994. Commercial Metals has a twelve month low of $39.85 and a twelve month high of $59.81. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 9.59 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.19 and a quick ratio of 2.69. The company has a fifty day moving average price of $55.41 and a 200 day moving average price of $50.12.

Commercial Metals (NYSE:CMC - Get Free Report) last announced 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 business 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 firm's revenue was down 8.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 EPS. On average, analysts expect that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.72 annualized dividend and a yield of 1.30%. This is an increase from Commercial Metals's previous quarterly dividend of $0.16. Commercial Metals's payout ratio is presently 12.50%.

Wall Street Analyst Weigh In

CMC has been the subject of several research reports. UBS Group started coverage on Commercial Metals in a research report on Tuesday, January 16th. They issued a "buy" rating and a $65.00 target price for the company. StockNews.com lowered Commercial Metals from a "buy" rating to a "hold" rating in a research report on Thursday. Finally, BMO Capital Markets boosted their price objective on Commercial Metals from $52.00 to $60.00 and gave the company a "market perform" rating in a research 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.