Koshinski Asset Management Inc. Raises Position in Commercial Metals (NYSE:CMC)

Koshinski Asset Management Inc. raised its holdings in Commercial Metals (NYSE:CMC) by 41.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,486 shares of the basic materials company’s stock after buying an additional 3,357 shares during the period. Koshinski Asset Management Inc.’s holdings in Commercial Metals were worth $575,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Commercial Metals by 1.7% during the 1st quarter. BlackRock Inc. now owns 16,103,415 shares of the basic materials company’s stock worth $787,457,000 after purchasing an additional 272,913 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Commercial Metals by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 13,226,374 shares of the basic materials company’s stock worth $550,481,000 after purchasing an additional 142,062 shares during the last quarter. State Street Corp lifted its position in shares of Commercial Metals by 22.3% during the 1st quarter. State Street Corp now owns 7,494,116 shares of the basic materials company’s stock worth $312,971,000 after purchasing an additional 1,367,997 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Commercial Metals by 26.7% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,506,247 shares of the basic materials company’s stock worth $123,834,000 after purchasing an additional 527,709 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Commercial Metals during the 4th quarter worth $114,477,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of CMC opened at $55.20 on Monday. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $59.81. The stock has a market cap of $6.39 billion, a PE ratio of 9.58 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 firm has a fifty day moving average price of $55.11 and a 200 day moving average price of $49.89.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, March 21st. The basic materials company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.05). The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. Commercial Metals’s revenue was down 8.4% on a year-over-year basis. During the same period last year, the firm earned $1.44 earnings per share. As a group, sell-side analysts anticipate that Commercial Metals will post 5.34 EPS for the current year.

Commercial Metals Increases Dividend

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

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Chairman Barbara Smith sold 57,194 shares of Commercial Metals stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $49.94, for a total value of $2,856,268.36. Following the transaction, the chairman now directly owns 156,185 shares in the company, valued at $7,799,878.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman Barbara Smith sold 57,194 shares of the business’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $49.94, for a total transaction of $2,856,268.36. Following the transaction, the chairman now directly owns 156,185 shares in the company, valued at $7,799,878.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lindsay L. Sloan sold 600 shares of the business’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 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. Over the last three months, insiders have sold 320,089 shares of company stock worth $16,383,553. 1.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CMC has been the subject of several recent analyst reports. UBS Group initiated coverage on shares of Commercial Metals in a research report on Tuesday, January 16th. They set a “buy” rating and a $65.00 price objective for the company. StockNews.com raised shares of Commercial Metals from a “hold” rating to a “buy” rating in a research report on Wednesday, April 10th. Finally, BMO Capital Markets boosted their price target on shares of Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd.

About Commercial Metals

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.