Mackenzie Financial Corp Has $4.02 Million Stock Position in Commercial Metals (NYSE:CMC)

Mackenzie Financial Corp lifted its holdings in Commercial Metals (NYSE:CMC - Free Report) by 454.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,235 shares of the basic materials company's stock after buying an additional 65,766 shares during the quarter. Mackenzie Financial Corp owned 0.07% of Commercial Metals worth $4,015,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CMC. HM Payson & Co. acquired a new position in shares of Commercial Metals in the third quarter worth $25,000. Headlands Technologies LLC purchased a new stake in shares of Commercial Metals in the third quarter worth about $51,000. Planned Solutions Inc. purchased a new stake in shares of Commercial Metals in the fourth quarter worth about $73,000. Adirondack Trust Co. purchased a new stake in shares of Commercial Metals in the third quarter worth about $84,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in Commercial Metals in the fourth quarter valued at about $107,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Stock Performance

Shares of Commercial Metals stock traded down $0.09 on Monday, reaching $55.12. 493,964 shares of the company were exchanged, compared to its average volume of 991,400. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $59.81. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.69 and a current ratio of 4.19. The firm has a market cap of $6.38 billion, a price-to-earnings ratio of 9.57 and a beta of 1.33. The company's 50-day moving average is $55.43 and its two-hundred day moving average is $50.19.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its 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 business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the business earned $1.44 earnings per share. The firm's revenue was down 8.4% compared to the same quarter last year. As a group, research analysts expect that Commercial Metals will post 5.34 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, April 1st were given a $0.18 dividend. This is a boost from Commercial Metals's previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend was Thursday, March 28th. Commercial Metals's dividend payout ratio (DPR) is currently 12.50%.

Analyst Ratings Changes

A number of research analysts recently commented on CMC shares. StockNews.com downgraded Commercial Metals from a "buy" rating to a "hold" rating in a report on Thursday. BMO Capital Markets increased their price target on Commercial Metals from $52.00 to $60.00 and gave the stock a "market perform" rating in a research report on Friday, March 22nd. Finally, UBS Group started coverage on Commercial Metals in a research report on Tuesday, January 16th. They set a "buy" rating and a $65.00 price target on the stock.

Insider Activity at Commercial Metals

In related news, Chairman Barbara Smith sold 35,704 shares of the firm'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 value of $2,066,547.52. Following the sale, the chairman now directly owns 36,196 shares in the company, valued at approximately $2,095,024.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Commercial Metals news, CAO Lindsay L. Sloan sold 600 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 12,338 shares of the company's stock, valued at approximately $635,653.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Barbara Smith sold 35,704 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $57.88, for a total value of $2,066,547.52. Following the transaction, the chairman now directly owns 36,196 shares of the company's stock, valued at $2,095,024.48. The disclosure for this sale can be found here. Insiders have sold a total of 120,089 shares of company stock worth $6,402,693 in the last three months. 1.00% of the stock is owned by company insiders.

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.