Bank of Montreal Can Buys 1,369 Shares of Commercial Metals (NYSE:CMC)

Bank of Montreal Can lifted its stake in Commercial Metals (NYSE:CMC) by 9.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,801 shares of the basic materials company’s stock after buying an additional 1,369 shares during the period. Bank of Montreal Can’s holdings in Commercial Metals were worth $784,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CMC. Heck Capital Advisors LLC acquired a new position in Commercial Metals during the fourth quarter worth $34,000. V Square Quantitative Management LLC grew its holdings in shares of Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 267 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 297 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Commercial Metals during the 4th quarter worth about $105,000. Finally, Amundi lifted its holdings in Commercial Metals by 29.9% during the 4th quarter. Amundi now owns 2,189 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 504 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

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

Commercial Metals Price Performance

Shares of CMC stock opened at $42.32 on Friday. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. Commercial Metals has a 12 month low of $37.92 and a 12 month high of $64.53. The firm has a market cap of $4.78 billion, a price-to-earnings ratio of 38.13, a PEG ratio of 2.62 and a beta of 1.16. The stock has a 50-day moving average price of $46.23 and a 200 day moving average price of $51.46.

Commercial Metals (NYSE:CMC) last issued 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 in the prior year, the firm earned $0.88 EPS. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. Research analysts expect that Commercial Metals will post 3.09 EPS for the current 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 given a $0.18 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.70%. Commercial Metals’s dividend payout ratio is currently 120.00%.

Insider Buying and Selling

In related news, Director John R. Mcpherson bought 2,475 shares of the business’s stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $40.42 per share, with a total value of $100,039.50. Following the completion of 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 acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

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.