KLP Kapitalforvaltning AS Purchases Shares of 36,800 Commercial Metals (NYSE:CMC)

KLP Kapitalforvaltning AS bought a new stake in Commercial Metals (NYSE:CMC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 36,800 shares of the basic materials company's stock, valued at approximately $1,825,000.

A number of other institutional investors have also recently added to or reduced their stakes in CMC. Heck Capital Advisors LLC acquired a new position in shares of Commercial Metals in the 4th quarter valued at about $34,000. V Square Quantitative Management LLC lifted its holdings in shares of 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 boosted its position 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 worth $82,000 after purchasing an additional 297 shares during the period. Amundi increased its holdings in Commercial Metals by 29.9% in the 4th quarter. Amundi now owns 2,189 shares of the basic materials company's stock valued at $108,000 after purchasing an additional 504 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Commercial Metals by 56.6% in the fourth quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company's stock valued at $130,000 after purchasing an additional 944 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CMC. BNP Paribas lowered Commercial Metals from an "outperform" rating to a "neutral" rating in a research note on Friday, January 3rd. Morgan Stanley dropped their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They issued a "buy" rating and a $75.00 target price for the company. Jefferies Financial Group lowered their target price 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. Finally, UBS Group decreased their price target 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. Six investment 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 presently has a consensus rating of "Hold" and a consensus price target of $60.33.

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Commercial Metals Price Performance

NYSE CMC traded up $1.04 during trading hours on Tuesday, reaching $47.05. 1,484,811 shares of the company's stock were exchanged, compared to its average volume of 911,033. Commercial Metals has a one year low of $42.62 and a one year high of $64.53. The firm has a fifty day moving average of $48.48 and a 200-day moving average of $52.65. The stock has a market cap of $5.32 billion, a PE ratio of 42.38, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC - Get Free Report) last announced 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 company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. Commercial Metals's revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. On average, equities research analysts predict that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.53%. Commercial Metals's dividend payout ratio (DPR) is presently 120.00%.

Commercial Metals 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.