Commercial Metals (NYSE:CMC) Shares Bought by Deutsche Bank AG

Deutsche Bank AG raised its holdings in shares of Commercial Metals (NYSE:CMC) by 44.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 106,005 shares of the basic materials company’s stock after buying an additional 32,473 shares during the period. Deutsche Bank AG’s holdings in Commercial Metals were worth $5,258,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Barclays PLC increased its position in Commercial Metals by 67.5% during the 3rd quarter. Barclays PLC now owns 210,769 shares of the basic materials company’s stock valued at $11,584,000 after buying an additional 84,905 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Commercial Metals by 66.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 71,151 shares of the basic materials company’s stock worth $3,529,000 after acquiring an additional 28,297 shares during the last quarter. Ameritas Advisory Services LLC increased its holdings in shares of Commercial Metals by 8.6% during the fourth quarter. Ameritas Advisory Services LLC now owns 5,567 shares of the basic materials company’s stock valued at $276,000 after acquiring an additional 443 shares in the last quarter. ARS Investment Partners LLC increased its holdings in shares of Commercial Metals by 0.3% during the fourth quarter. ARS Investment Partners LLC now owns 291,482 shares of the basic materials company’s stock valued at $14,458,000 after acquiring an additional 942 shares in the last quarter. Finally, Inspire Investing LLC raised its position in shares of Commercial Metals by 7.4% in the 4th quarter. Inspire Investing LLC now owns 8,054 shares of the basic materials company’s stock valued at $399,000 after purchasing an additional 558 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on CMC. UBS Group dropped their target price on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. 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 report on Friday, March 7th. Finally, BMO Capital Markets reduced their target price on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research note on Friday, March 21st. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Commercial Metals has a consensus rating of “Hold” and an average target price of $60.33.

Commercial Metals Stock Performance

Shares of NYSE CMC opened at $48.04 on Monday. The company has a 50 day simple moving average of $44.86 and a two-hundred day simple moving average of $50.31. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 43.28, a PEG ratio of 2.62 and a beta of 1.29. 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 has a 12 month low of $37.92 and a 12 month high of $64.53.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) 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 business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the prior year, the firm earned $0.88 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. As a group, analysts predict 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 issued a $0.18 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.50%. Commercial Metals’s dividend payout ratio (DPR) is presently 120.00%.

Insider Transactions at Commercial Metals

In other news, Director John R. Mcpherson bought 2,475 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company 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.