Commercial Metals (NYSE:CMC) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 66.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,151 shares of the basic materials company's stock after buying an additional 28,297 shares during the quarter. Assenagon Asset Management S.A. owned about 0.06% of Commercial Metals worth $3,529,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Commercial Metals by 0.4% in the third quarter. State Street Corp now owns 5,830,412 shares of the basic materials company's stock valued at $320,439,000 after acquiring an additional 24,665 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Commercial Metals by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company's stock valued at $156,093,000 after purchasing an additional 28,019 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Commercial Metals by 1.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,176,959 shares of the basic materials company's stock worth $119,646,000 after purchasing an additional 41,206 shares during the period. Principal Financial Group Inc. increased its position in shares of Commercial Metals by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company's stock worth $94,208,000 after purchasing an additional 17,931 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Commercial Metals by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,462,317 shares of the basic materials company's stock valued at $80,369,000 after buying an additional 18,262 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CMC shares. BMO Capital Markets decreased their target price on Commercial Metals from $62.00 to $58.00 and set a "market perform" rating on the stock in a research note on Friday, January 3rd. Wolfe Research cut shares of Commercial Metals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, October 9th. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They issued a "buy" rating and a $75.00 price objective for the company. BNP Paribas downgraded shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research note on Friday, January 3rd. Finally, Morgan Stanley started coverage on shares of Commercial Metals in a research report on Thursday, December 19th. They issued an "equal weight" rating and a $65.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Commercial Metals currently has an average rating of "Hold" and an average target price of $63.83.

Commercial Metals Stock Performance

CMC traded down $1.42 on Wednesday, hitting $50.27. 1,182,131 shares of the company traded hands, compared to its average volume of 1,334,133. Commercial Metals has a 12-month low of $45.50 and a 12-month high of $64.53. The company has a 50 day moving average of $55.13 and a 200-day moving average of $54.69. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $5.71 billion, a PE ratio of 45.28, a PEG ratio of 2.45 and a beta of 1.19.

Commercial Metals (NYSE:CMC - Get Free Report) last released its earnings results on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, hitting the consensus estimate of $0.78. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter last year, the business earned $1.49 EPS. The business's revenue was down 4.7% on a year-over-year basis. Sell-side analysts anticipate that Commercial Metals will post 3.28 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 30th. Stockholders of record on Thursday, January 16th will be issued a $0.18 dividend. The ex-dividend date is Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.43%. Commercial Metals's dividend payout ratio is presently 64.86%.

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.