Capital Fund Management S.A. Buys Shares of 53,460 Commercial Metals (NYSE:CMC)

Capital Fund Management S.A. purchased a new position in Commercial Metals (NYSE:CMC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 53,460 shares of the basic materials company's stock, valued at approximately $2,652,000.

A number of other hedge funds have also recently modified their holdings of the business. Renaissance Technologies LLC grew its holdings in Commercial Metals by 395.3% during the fourth quarter. Renaissance Technologies LLC now owns 149,100 shares of the basic materials company's stock valued at $7,395,000 after purchasing an additional 119,000 shares during the period. Bank of Montreal Can lifted its holdings in Commercial Metals by 9.5% during the fourth quarter. Bank of Montreal Can now owns 15,801 shares of the basic materials company's stock valued at $784,000 after purchasing an additional 1,369 shares in the last quarter. Polymer Capital Management US LLC bought a new position in shares of Commercial Metals in the fourth quarter worth approximately $1,300,000. Aristides Capital LLC raised its position in shares of Commercial Metals by 34.1% during the 4th quarter. Aristides Capital LLC now owns 5,369 shares of the basic materials company's stock valued at $266,000 after purchasing an additional 1,365 shares during the period. Finally, Aster Capital Management DIFC Ltd boosted its position in shares of Commercial Metals by 5,796.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 8,844 shares of the basic materials company's stock worth $439,000 after acquiring an additional 8,694 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Insider Transactions at Commercial Metals

In related news, Director John R. Mcpherson purchased 2,475 shares of Commercial Metals stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $40.42 per share, for a total transaction of $100,039.50. Following 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 acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.46% of the company's stock.

Commercial Metals Stock Up 1.5 %

Shares of Commercial Metals stock traded up $0.62 during trading on Friday, reaching $42.32. The company's stock had a trading volume of 888,354 shares, compared to its average volume of 952,532. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $64.53. The company has a 50-day simple moving average of $46.23 and a two-hundred day simple moving average of $51.47. 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 company has a market cap of $4.78 billion, a price-to-earnings ratio of 38.13, a P/E/G ratio of 2.62 and a beta of 1.16.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals's revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. As a group, equities analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 1.70%. Commercial Metals's dividend payout ratio (DPR) is presently 120.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. BNP Paribas cut Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. Morgan Stanley reduced their price objective 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. UBS Group dropped their price target on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Jefferies Financial Group lowered their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, BMO Capital Markets lowered their price target on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a research report on Friday, March 21st. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $60.33.

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.