4 days Ago By Defense World Staff
Envestnet Asset Management Inc. lifted its holdings in shares of Commercial Metals (NYSE:CMC – Free Report) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC).
The firm owned 362,845 shares of the basic materials company’s stock after buying an additional 19,353 shares during the quarter. Envestnet Asset Management Inc. owned about 0.
32% of Commercial Metals worth $17,997,000 at the end of the most recent quarter. A number of other large investors also recently made changes to their positions in CMC. JPMorgan Chase & Co.
raised its stake in Commercial Metals by 6.5% during the 3rd quarter. JPMorgan Chase & Co.
now owns 1,081,153 shares of the basic materials company’s stock worth $59,420,000 after buying an additional 66,092 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Commercial Metals by 1.
1% during the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after buying an additional 17,931 shares in the last quarter.
Assenagon Asset Management S.A. raised its position in Commercial Metals by 66.
0% in the 4th quarter. Assenagon Asset Management S.A.
now owns 71,151 shares of the basic materials company’s stock valued at $3,529,000 after buying an additional 28,297 shares during the last quarter. Covea Finance lifted its stake in Commercial Metals by 44.2% in the 4th quarter.
Covea Finance now owns 62,000 shares of the basic materials company’s stock valued at $3,075,000 after acquiring an additional 19,000 shares in the last quarter. Finally, Spring Capital Management LLC acquired a new position in Commercial Metals during the 4th quarter worth approximately $248,000. Institutional investors and hedge funds own 86.
90% of the company’s stock. Insider Activity at Commercial MetalsIn other news, Director John R. Mcpherson acquired 2,475 shares of the stock in a transaction on Friday, April 4th.
The stock was acquired at an average cost of $40.42 per share, for a total transaction of $100,039.50.
Following the completion of the transaction, the director now directly owns 15,141 shares in the company, valued at approximately $611,999.22. This trade represents a 19.
54 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.
46% of the stock is owned by insiders. Commercial Metals Price PerformanceShares of NYSE CMC opened at $41.70 on Wednesday.
The firm has a market cap of $4.71 billion, a P/E ratio of 37.56, a price-to-earnings-growth ratio of 2.
62 and a beta of 1.16. The business’s 50 day moving average is $46.
71 and its 200-day moving average is $51.71. The company has a current ratio of 2.
76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29.
Commercial Metals has a 1-year low of $37.92 and a 1-year high of $64.53.
Commercial Metals (NYSE:CMC – Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.
31 by ($0.05). The firm had revenue of $1.
75 billion for the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a return on equity of 9.
88% and a net margin of 1.70%. The firm’s quarterly revenue was down 5.
1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS.
Equities research analysts predict that Commercial Metals will post 3.09 earnings per share for the current year. Commercial Metals Dividend AnnouncementThe business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th.
Shareholders of record on Monday, March 31st were paid a dividend of $0.18 per share. The ex-dividend date was Monday, March 31st.
This represents a $0.72 dividend on an annualized basis and a yield of 1.73%.
Commercial Metals’s dividend payout ratio (DPR) is presently 120.00%. Analyst Ratings ChangesA number of analysts have recently commented on CMC shares.
Jefferies Financial Group cut their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.
BMO Capital Markets cut their price target on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research report on Friday, March 21st.
UBS Group decreased their price objective on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, March 24th.
Morgan Stanley dropped their target price on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th.
Finally, BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.
com, the stock presently has a consensus rating of “Hold” and an average target price of $60.33.Check Out Our Latest Analysis on CMCAbout Commercial Metals (Free Report)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.Further ReadingFive stocks we like better than Commercial MetalsWhy Are Stock Sectors Important to Successful Investing?Beware of BigBear.
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