Commercial Metals (NYSE:CMC) Shares Bought by First Trust Advisors LP

First Trust Advisors LP boosted its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 34.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,754,840 shares of the basic materials company's stock after acquiring an additional 446,317 shares during the period. First Trust Advisors LP owned 1.54% of Commercial Metals worth $87,040,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CMC. Heck Capital Advisors LLC bought a new position in shares of Commercial Metals during the 4th quarter valued at approximately $34,000. V Square Quantitative Management LLC boosted its position in shares of Commercial Metals by 60.7% during the fourth 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 during the period. Jones Financial Companies Lllp raised its holdings in shares of Commercial Metals by 22.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock worth $82,000 after buying an additional 297 shares during the period. New Age Alpha Advisors LLC purchased a new stake in Commercial Metals in the fourth quarter worth $105,000. Finally, Covestor Ltd grew its holdings in shares of Commercial Metals by 19.0% in the fourth quarter. Covestor Ltd now owns 2,148 shares of the basic materials company's stock worth $107,000 after purchasing an additional 343 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Commercial Metals Stock Performance

Shares of NYSE CMC traded down $0.19 during mid-day trading on Friday, hitting $44.20. The stock had a trading volume of 729,533 shares, compared to its average volume of 952,420. The company has a 50 day moving average of $45.54 and a two-hundred day moving average of $51.19. Commercial Metals has a twelve month low of $37.92 and a twelve month high of $64.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The firm has a market cap of $4.99 billion, a PE ratio of 39.82, a PEG 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 the consensus estimate of $0.31 by ($0.05). The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals's quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.88 EPS. Research analysts predict that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently announced 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 yield of 1.63%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals's dividend payout ratio (DPR) is 120.00%.

Insider Activity at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson purchased 2,475 shares of the business's 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 purchase, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on CMC. BNP Paribas downgraded shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research note on Friday, January 3rd. Morgan Stanley lowered their target price on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. BMO Capital Markets cut their target price 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. Jefferies Financial Group reduced their price target on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, UBS Group reduced their target price 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 given a buy rating to the company. According to data from MarketBeat.com, Commercial Metals presently has a consensus rating of "Hold" and an average price target 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.