Commercial Metals (NYSE:CMC) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P trimmed its stake in Commercial Metals (NYSE:CMC) by 81.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,668 shares of the basic materials company’s stock after selling 33,411 shares during the quarter. Martingale Asset Management L P’s holdings in Commercial Metals were worth $380,000 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 position in shares of Commercial Metals in the 4th quarter valued at $34,000. V Square Quantitative Management LLC boosted its holdings 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 buying an additional 267 shares during the period. Jones Financial Companies Lllp increased its position in shares of Commercial Metals by 22.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 297 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Commercial Metals during the fourth quarter valued at approximately $105,000. Finally, Amundi lifted its position in shares of Commercial Metals by 29.9% in the 4th quarter. Amundi now owns 2,189 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 504 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director John R. Mcpherson bought 2,475 shares of Commercial Metals stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the acquisition, the director now owns 15,141 shares in the company, valued at $611,999.22. This trade represents a 19.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CMC shares. BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. UBS Group lowered their price target on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. BMO Capital Markets reduced their price objective on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research note on Friday, March 21st. Morgan Stanley lowered their target price on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Finally, Jefferies Financial Group reduced their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $60.33.

Commercial Metals Trading Up 0.2 %

NYSE:CMC opened at $41.93 on Monday. The company has a market capitalization of $4.74 billion, a P/E ratio of 37.78, a P/E/G ratio of 2.62 and a beta of 1.16. The stock’s 50 day moving average price is $47.01 and its 200 day moving average price is $51.87. 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 has a 52 week low of $37.92 and a 52 week high of $64.53.

Commercial Metals (NYSE:CMC) last announced its quarterly 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). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company earned $0.88 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, research analysts forecast that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.72%. Commercial Metals’s dividend payout ratio (DPR) is presently 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.