Commercial Metals (NYSE:CMC) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in Commercial Metals (NYSE:CMC) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 260,740 shares of the basic materials company’s stock after purchasing an additional 5,972 shares during the period. Federated Hermes Inc. owned 0.22% of Commercial Metals worth $13,047,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Advisors Preferred LLC lifted its holdings in shares of Commercial Metals by 114.0% in the fourth quarter. Advisors Preferred LLC now owns 60,810 shares of the basic materials company’s stock valued at $3,051,000 after purchasing an additional 32,393 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Commercial Metals by 23.5% in the fourth quarter. Raymond James & Associates now owns 118,904 shares of the basic materials company’s stock valued at $5,950,000 after purchasing an additional 22,619 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Commercial Metals by 270.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 137,240 shares of the basic materials company’s stock valued at $6,918,000 after purchasing an additional 100,160 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Commercial Metals by 91.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 91,634 shares of the basic materials company’s stock valued at $4,528,000 after purchasing an additional 43,734 shares in the last quarter. Finally, Pinkerton Retirement Specialists LLC purchased a new stake in shares of Commercial Metals in the third quarter valued at about $690,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Performance

Shares of CMC opened at $54.45 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.69 and a current ratio of 4.19. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 9.45 and a beta of 1.33. The company’s 50 day simple moving average is $55.47 and its 200 day simple moving average is $50.23. Commercial Metals has a 1 year low of $39.85 and a 1 year high of $59.81.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.05). Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same period in the previous year, the company posted $1.44 EPS. The business’s quarterly revenue was down 8.4% on a year-over-year basis. On average, sell-side analysts predict that Commercial Metals will post 5.34 EPS for the current year.

Commercial Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Monday, April 1st were paid a dividend of $0.18 per share. The ex-dividend date was Thursday, March 28th. This is a boost from Commercial Metals’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 1.32%. Commercial Metals’s payout ratio is currently 12.50%.

Insider Buying and Selling

In related news, Chairman Barbara Smith sold 60,166 shares of Commercial Metals stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $51.28, for a total value of $3,085,312.48. Following the transaction, the chairman now owns 96,019 shares in the company, valued at $4,923,854.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Lindsay L. Sloan sold 600 shares of the stock in a transaction on Friday, January 26th. The shares were sold at an average price of $51.52, for a total value of $30,912.00. Following the completion of the sale, the chief accounting officer now owns 12,338 shares of the company’s stock, valued at $635,653.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Barbara Smith sold 60,166 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $51.28, for a total transaction of $3,085,312.48. Following the completion of the transaction, the chairman now directly owns 96,019 shares in the company, valued at approximately $4,923,854.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,089 shares of company stock valued at $6,402,693. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on CMC. BMO Capital Markets upped their price target on shares of Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. UBS Group assumed coverage on shares of Commercial Metals in a research note on Tuesday, January 16th. They set a “buy” rating and a $65.00 price objective on the stock. Finally, StockNews.com downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th.

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.