Bessemer Group Inc. Has $171,000 Position in Commercial Metals (NYSE:CMC)

Bessemer Group Inc. reduced its position in shares of Commercial Metals (NYSE:CMC - Free Report) by 99.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,449 shares of the basic materials company's stock after selling 326,435 shares during the quarter. Bessemer Group Inc.'s holdings in Commercial Metals were worth $171,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of CMC. Boston Partners increased its stake in shares of Commercial Metals by 6.4% in the 4th quarter. Boston Partners now owns 4,055,150 shares of the basic materials company's stock valued at $201,178,000 after acquiring an additional 243,921 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Commercial Metals by 11.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company's stock valued at $120,152,000 after purchasing an additional 245,468 shares during the period. Franklin Resources Inc. raised its holdings in Commercial Metals by 87.0% in the fourth quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company's stock worth $95,204,000 after purchasing an additional 893,094 shares during the period. Principal Financial Group Inc. raised its holdings in Commercial Metals by 1.1% in 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 purchasing an additional 17,931 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Commercial Metals by 45.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,576,316 shares of the basic materials company's stock worth $78,185,000 after purchasing an additional 495,163 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Commercial Metals Stock Up 1.5 %

NYSE:CMC traded up $0.62 during trading hours on Friday, reaching $42.32. 888,354 shares of the stock were exchanged, compared to its average volume of 953,948. The stock has a market cap of $4.78 billion, a PE ratio of 38.13, a PEG ratio of 2.62 and a beta of 1.16. Commercial Metals has a twelve month low of $37.92 and a twelve month high of $64.53. The firm has a 50 day moving average of $46.23 and a 200 day moving average of $51.46. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94.

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

Commercial Metals Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently commented on CMC shares. Jefferies Financial Group dropped their price objective on Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. 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. BMO Capital Markets decreased 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. Morgan Stanley dropped 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 report on Friday, March 7th. Finally, BNP Paribas cut shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Commercial Metals presently has an average rating of "Hold" and a consensus price target of $60.33.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson acquired 2,475 shares of the company's stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the purchase, the director now directly owns 15,141 shares of the company's stock, valued at approximately $611,999.22. This represents a 19.54 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.