Commercial Metals (NYSE:CMC) Shares Purchased by Xponance Inc.

Xponance Inc. raised its position in shares of Commercial Metals (NYSE:CMC) by 6.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,997 shares of the basic materials company’s stock after buying an additional 1,062 shares during the period. Xponance Inc.’s holdings in Commercial Metals were worth $901,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CMC. SG Americas Securities LLC boosted its holdings in Commercial Metals by 89.7% in the third quarter. SG Americas Securities LLC now owns 27,024 shares of the basic materials company’s stock valued at $1,335,000 after purchasing an additional 12,776 shares during the period. Flagship Harbor Advisors LLC purchased a new position in Commercial Metals in the third quarter valued at $221,000. Avior Wealth Management LLC boosted its holdings in Commercial Metals by 18.8% in the third quarter. Avior Wealth Management LLC now owns 5,909 shares of the basic materials company’s stock valued at $292,000 after purchasing an additional 935 shares during the period. Oak Thistle LLC purchased a new position in Commercial Metals in the third quarter valued at $220,000. Finally, Handelsbanken Fonder AB boosted its holdings in Commercial Metals by 44.8% in the third quarter. Handelsbanken Fonder AB now owns 21,000 shares of the basic materials company’s stock valued at $1,038,000 after purchasing an additional 6,500 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Price Performance

Shares of NYSE CMC opened at $53.70 on Friday. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 9.32 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 business has a 50-day moving average of $55.45 and a two-hundred day moving average of $50.28. Commercial Metals has a 1 year low of $39.85 and a 1 year high of $59.81.

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

Commercial Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Monday, April 1st were given a dividend of $0.18 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.34%. This is a boost from Commercial Metals’s previous quarterly dividend of $0.16. Commercial Metals’s payout ratio is 12.50%.

Insider Transactions at Commercial Metals

In other news, Chairman Barbara Smith sold 35,704 shares of Commercial Metals stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total transaction of $2,066,547.52. Following the sale, the chairman now owns 36,196 shares in the company, valued at $2,095,024.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 119,489 shares of company stock worth $6,371,781. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

CMC has been the subject of a number of recent research reports. BMO Capital Markets lifted their target price on Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. StockNews.com downgraded Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Finally, UBS Group started coverage on Commercial Metals in a report on Tuesday, January 16th. They set a “buy” rating and a $65.00 price target for the company.

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.