DekaBank Deutsche Girozentrale Increases Stock Position in Commercial Metals (NYSE:CMC)

DekaBank Deutsche Girozentrale raised its position in Commercial Metals (NYSE:CMC) by 270.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,240 shares of the basic materials company’s stock after acquiring an additional 100,160 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.12% of Commercial Metals worth $6,918,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. HM Payson & Co. purchased a new position in Commercial Metals during the 3rd quarter valued at about $25,000. Point72 Asset Management L.P. purchased a new position in shares of Commercial Metals during the second quarter valued at approximately $30,000. Quarry LP bought a new position in shares of Commercial Metals during the first quarter valued at approximately $30,000. Sunbelt Securities Inc. purchased a new stake in Commercial Metals in the first quarter worth $30,000. Finally, VisionPoint Advisory Group LLC bought a new stake in Commercial Metals in the second quarter valued at $31,000. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on CMC shares. StockNews.com upgraded shares of Commercial Metals from a “hold” rating to a “buy” rating in a report on Wednesday. UBS Group began coverage on shares of Commercial Metals in a report on Tuesday, January 16th. They issued a “buy” rating and a $65.00 price objective for the company. Finally, BMO Capital Markets upped their target price on 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 Stock Down 1.8 %

NYSE:CMC opened at $57.22 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.19 and a quick ratio of 2.69. The firm’s 50-day moving average price is $54.93 and its 200-day moving average price is $49.81. The company has a market capitalization of $6.62 billion, a PE ratio of 9.93 and a beta of 1.33. 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 for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.05). Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter last year, the company posted $1.44 EPS. Commercial Metals’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, equities analysts predict that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, April 1st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Thursday, March 28th. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.16. Commercial Metals’s dividend payout ratio (DPR) is 12.50%.

Insider Buying and Selling at Commercial Metals

In other news, CAO Lindsay L. Sloan sold 600 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $51.52, for a total transaction of $30,912.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,338 shares in the company, valued at $635,653.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Lindsay L. Sloan sold 600 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 12,338 shares in the company, valued at $635,653.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Barbara Smith sold 35,704 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $57.88, for a total transaction of $2,066,547.52. Following the sale, the chairman now owns 36,196 shares in the company, valued at approximately $2,095,024.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 320,089 shares of company stock worth $16,383,553. 1.00% of the stock is owned by insiders.

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.