Price T Rowe Associates Inc. MD Has $35.66 Million Position in Commercial Metals (NYSE:CMC)

Price T Rowe Associates Inc. MD increased its stake in Commercial Metals (NYSE:CMC - Free Report) by 3.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 718,881 shares of the basic materials company's stock after acquiring an additional 21,409 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.63% of Commercial Metals worth $35,658,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Heck Capital Advisors LLC acquired a new stake in Commercial Metals during the 4th quarter worth about $34,000. V Square Quantitative Management LLC increased its position in shares of Commercial Metals by 60.7% in the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after acquiring an additional 267 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock valued at $82,000 after acquiring an additional 297 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of Commercial Metals in the 4th quarter valued at approximately $105,000. Finally, Covestor Ltd boosted its stake in Commercial Metals by 19.0% in the 4th quarter. Covestor Ltd now owns 2,148 shares of the basic materials company's stock worth $107,000 after purchasing an additional 343 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CMC shares. Jefferies Financial Group reduced their target price on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a report on Monday, January 6th. BMO Capital Markets lowered their target price on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a research note on Friday, March 21st. UBS Group dropped their target price on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a report on Monday, March 24th. Finally, Morgan Stanley decreased their price target on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $60.33.

Insider Transactions at Commercial Metals

In other news, Director John R. Mcpherson bought 2,475 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the purchase, the director now owns 15,141 shares of the company's stock, valued at $611,999.22. This represents a 19.54 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is currently owned by corporate insiders.

Commercial Metals Stock Up 2.5 %

Shares of Commercial Metals stock traded up $1.14 during trading on Friday, hitting $46.49. 919,715 shares of the stock traded hands, compared to its average volume of 955,659. The company has a fifty day moving average price of $44.83 and a two-hundred day moving average price of $50.83. Commercial Metals has a twelve month low of $37.92 and a twelve month high of $64.53. The stock has a market cap of $5.25 billion, a P/E ratio of 41.88, a PEG ratio of 2.62 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The business had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business's revenue was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 earnings per share. Equities research analysts predict that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were given a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.55%. Commercial Metals's dividend payout ratio is currently 120.00%.

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.