Commercial Metals (NYSE:CMC) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in Commercial Metals (NYSE:CMC - Free Report) by 395.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,100 shares of the basic materials company's stock after buying an additional 119,000 shares during the period. Renaissance Technologies LLC owned approximately 0.13% of Commercial Metals worth $7,395,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of research firms recently commented on CMC. BNP Paribas cut Commercial Metals from an "outperform" rating to a "neutral" rating in a research report on Friday, January 3rd. UBS Group cut their price objective on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Morgan Stanley decreased their target price 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. Jefferies Financial Group cut their price target on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, BMO Capital Markets lowered their price objective on 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $60.33.

Commercial Metals Trading Up 1.5 %

Shares of CMC opened at $42.32 on Friday. Commercial Metals has a twelve month low of $37.92 and a twelve month high of $64.53. The firm has a market capitalization of $4.78 billion, a P/E ratio of 38.13, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The stock's fifty day simple moving average is $46.23 and its 200 day simple moving average is $51.47.

Commercial Metals (NYSE:CMC - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business's revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 earnings per share. On average, equities research analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Monday, March 31st. Commercial Metals's payout ratio is currently 120.00%.

Insider Activity

In related news, Director John R. Mcpherson acquired 2,475 shares of the business's stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $40.42 per share, with a total value of $100,039.50. Following the completion of the transaction, the director now directly owns 15,141 shares of the company's stock, valued at $611,999.22. This trade represents a 19.54 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.46% of the company's stock.

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.

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