Federated Hermes Inc. Acquires 5,972 Shares of Commercial Metals (NYSE:CMC)

Federated Hermes Inc. increased its stake in shares of Commercial Metals (NYSE:CMC) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 260,740 shares of the basic materials company’s stock after acquiring an additional 5,972 shares during the quarter. Federated Hermes Inc.’s holdings in Commercial Metals were worth $13,047,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. HM Payson & Co. bought a new stake in shares of Commercial Metals in the 3rd quarter worth approximately $25,000. Daiwa Securities Group Inc. bought a new position in Commercial Metals in the fourth quarter worth $30,000. Headlands Technologies LLC acquired a new stake in Commercial Metals during the third quarter worth $51,000. Planned Solutions Inc. bought a new stake in Commercial Metals in the 4th quarter valued at $73,000. Finally, Adirondack Trust Co. acquired a new position in shares of Commercial Metals in the 3rd quarter valued at $84,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Barbara Smith sold 60,166 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $51.28, for a total value of $3,085,312.48. Following the completion of the sale, the chairman now directly owns 96,019 shares in the company, valued at $4,923,854.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Chairman Barbara Smith sold 60,166 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $51.28, for a total value of $3,085,312.48. Following the completion of the sale, the chairman now directly owns 96,019 shares in the company, valued at $4,923,854.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lindsay L. Sloan sold 600 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $51.52, for a total value of $30,912.00. Following the completion of the sale, the chief accounting officer now owns 12,338 shares of the company’s stock, valued at $635,653.76. The disclosure for this sale can be found here. Insiders sold 120,089 shares of company stock worth $6,402,693 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. BMO Capital Markets lifted their target price 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. UBS Group began coverage on Commercial Metals in a research note on Tuesday, January 16th. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, StockNews.com cut Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, April 18th.

Commercial Metals Stock Performance

Commercial Metals stock opened at $54.45 on Wednesday. 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 stock has a fifty day moving average price of $55.47 and a two-hundred day moving average price of $50.23. Commercial Metals has a 52-week low of $39.85 and a 52-week high of $59.81. The firm has a market capitalization of $6.30 billion, a P/E ratio of 9.45 and a beta of 1.33.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.05). Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the prior year, the company earned $1.44 earnings per share. The business’s revenue was down 8.4% compared to the same quarter last year. As a group, analysts anticipate that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The business also recently disclosed 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. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.32%. The ex-dividend date was Thursday, March 28th. Commercial Metals’s dividend payout ratio is currently 12.50%.

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.