19,396 Shares in Commercial Metals (NYSE:CMC) Purchased by AIA Group Ltd

AIA Group Ltd purchased a new stake in Commercial Metals (NYSE:CMC) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 19,396 shares of the basic materials company’s stock, valued at approximately $971,000.

A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new position in Commercial Metals during the 4th quarter worth approximately $114,477,000. State Street Corp boosted its stake in shares of Commercial Metals by 22.3% in the first quarter. State Street Corp now owns 7,494,116 shares of the basic materials company’s stock valued at $312,971,000 after buying an additional 1,367,997 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Commercial Metals by 26.7% during the third 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. Vanguard Group Inc. raised its holdings in Commercial Metals by 4.1% during the third quarter. Vanguard Group Inc. now owns 12,450,082 shares of the basic materials company’s stock worth $615,159,000 after purchasing an additional 487,792 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Commercial Metals by 33.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,652,812 shares of the basic materials company’s stock worth $68,790,000 after purchasing an additional 409,679 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Transactions at Commercial Metals

In other news, Chairman Barbara Smith sold 60,166 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $51.28, for a total transaction of $3,085,312.48. Following the sale, the chairman now directly owns 96,019 shares in the company, valued at approximately $4,923,854.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Lindsay L. Sloan sold 600 shares of Commercial Metals stock in a transaction on 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 directly owns 12,338 shares in the company, valued at approximately $635,653.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Barbara Smith sold 60,166 shares of Commercial Metals stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $51.28, for a total value of $3,085,312.48. Following the transaction, the chairman now owns 96,019 shares in the company, valued at $4,923,854.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,089 shares of company stock worth $6,402,693. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CMC. BMO Capital Markets boosted their price target on Commercial Metals from $52.00 to $60.00 and gave the stock 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 research report on Thursday. Finally, UBS Group started coverage on Commercial Metals in a research report on Tuesday, January 16th. They set a “buy” rating and a $65.00 price target for the company.

Commercial Metals Trading Down 0.1 %

NYSE:CMC opened at $55.21 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.69 and a current ratio of 4.19. Commercial Metals has a one year low of $39.85 and a one year high of $59.81. The business’s 50-day simple moving average is $55.41 and its 200 day simple moving average is $50.10. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 9.59 and a beta of 1.33.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, March 21st. The basic materials company reported $0.88 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 business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same quarter last year, the firm posted $1.44 EPS. The company’s revenue was down 8.4% compared to the same quarter last year. As a group, sell-side analysts predict that Commercial Metals will post 5.34 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

The company 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. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.72 annualized dividend and a yield of 1.30%. This is a boost from Commercial Metals’s previous quarterly dividend of $0.16. Commercial Metals’s dividend payout ratio is presently 12.50%.

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.