Commercial Metals (NYSE:CMC) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in Commercial Metals (NYSE:CMC - Free Report) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 362,845 shares of the basic materials company's stock after purchasing an additional 19,353 shares during the period. Envestnet Asset Management Inc. owned approximately 0.32% of Commercial Metals worth $17,997,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in shares of Commercial Metals during the fourth quarter worth about $34,000. V Square Quantitative Management LLC grew its stake in Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 267 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock valued at $82,000 after acquiring an additional 297 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of Commercial Metals in the fourth quarter valued at approximately $105,000. Finally, Amundi lifted its position in Commercial Metals by 29.9% during the fourth quarter. Amundi now owns 2,189 shares of the basic materials company's stock worth $108,000 after buying an additional 504 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Stock Up 1.5 %

Shares of NYSE CMC traded up $0.62 during mid-day trading on Friday, reaching $42.32. The company had a trading volume of 888,354 shares, compared to its average volume of 952,532. Commercial Metals has a 52-week low of $37.92 and a 52-week high of $64.53. The stock has a market cap of $4.78 billion, a P/E ratio of 38.13, a PEG 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 firm has a 50 day simple moving average of $46.23 and a two-hundred day simple moving average of $51.47.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings data 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). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The firm had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same quarter in the prior year, the firm posted $0.88 EPS. Commercial Metals's quarterly revenue was down 5.1% compared to the same quarter last year. Sell-side analysts predict that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were issued a dividend of $0.18 per share. 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 dividend payout ratio is presently 120.00%.

Insider Activity at Commercial Metals

In other news, Director John R. Mcpherson purchased 2,475 shares of the company's stock in a transaction dated Friday, April 4th. The stock was acquired at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the transaction, the director now directly owns 15,141 shares in the company, valued at $611,999.22. This represents a 19.54 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CMC. Morgan Stanley dropped their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Jefferies Financial Group dropped their price objective on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Monday, January 6th. BNP Paribas cut Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. BMO Capital Markets reduced their price target on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a research report on Friday, March 21st. Finally, UBS Group dropped their price objective on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a report on Monday, March 24th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Commercial Metals presently has a consensus rating of "Hold" and a consensus price target of $60.33.

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.