Paradiem LLC Lowers Stock Position in Commercial Metals (NYSE:CMC)

Paradiem LLC lessened its holdings in Commercial Metals (NYSE:CMC) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 76,808 shares of the basic materials company’s stock after selling 2,221 shares during the period. Paradiem LLC owned about 0.07% of Commercial Metals worth $3,843,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CMC. Headlands Technologies LLC increased its stake in Commercial Metals by 212.1% during the 4th quarter. Headlands Technologies LLC now owns 3,205 shares of the basic materials company’s stock valued at $160,000 after purchasing an additional 2,178 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Commercial Metals in the fourth quarter worth $74,000. Illinois Municipal Retirement Fund increased its stake in shares of Commercial Metals by 118.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 36,071 shares of the basic materials company’s stock worth $1,805,000 after acquiring an additional 19,553 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of Commercial Metals by 46.9% in the fourth quarter. Wedge Capital Management L L P NC now owns 173,287 shares of the basic materials company’s stock worth $8,671,000 after acquiring an additional 55,363 shares during the period. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of Commercial Metals in the fourth quarter worth $341,000. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of NYSE:CMC traded down $0.23 during midday trading on Friday, hitting $53.48. The company’s stock had a trading volume of 530,880 shares, compared to its average volume of 699,467. The business’s 50 day simple moving average is $55.41 and its 200 day simple moving average is $50.33. 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 cap of $6.19 billion, a P/E ratio of 9.28 and a beta of 1.33. Commercial Metals has a 12-month low of $39.85 and a 12-month high of $59.81.

Commercial Metals (NYSE:CMC) last released 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 return on equity of 17.72% and a net margin of 8.09%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the business posted $1.44 earnings per share. Commercial Metals’s revenue for the quarter was down 8.4% on a year-over-year basis. On average, analysts forecast that Commercial Metals will post 5.34 EPS for the current year.

Commercial Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, March 28th. This is a boost from Commercial Metals’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.35%. Commercial Metals’s dividend payout ratio (DPR) is currently 12.50%.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Chairman Barbara Smith sold 23,619 shares of Commercial Metals stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $51.65, for a total transaction of $1,219,921.35. Following the completion of the sale, the chairman now directly owns 72,400 shares in the company, valued at $3,739,460. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 119,489 shares of company stock worth $6,371,781 over the last three months. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.