Commercial Metals (NYSE:CMC) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its position in shares of Commercial Metals (NYSE:CMC) by 46.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 173,287 shares of the basic materials company’s stock after acquiring an additional 55,363 shares during the period. Wedge Capital Management L L P NC’s holdings in Commercial Metals were worth $8,671,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its stake in Commercial Metals by 1.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 23,471 shares of the basic materials company’s stock worth $1,160,000 after purchasing an additional 247 shares in the last quarter. Inspire Investing LLC increased its stake in Commercial Metals by 4.4% in the 3rd quarter. Inspire Investing LLC now owns 6,237 shares of the basic materials company’s stock worth $308,000 after purchasing an additional 261 shares in the last quarter. Diversified Trust Co increased its stake in Commercial Metals by 1.2% in the 3rd quarter. Diversified Trust Co now owns 23,810 shares of the basic materials company’s stock worth $1,176,000 after purchasing an additional 292 shares in the last quarter. Oliver Luxxe Assets LLC increased its stake in Commercial Metals by 2.2% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 14,211 shares of the basic materials company’s stock worth $702,000 after purchasing an additional 304 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its stake in Commercial Metals by 7.4% in the 4th quarter. AlphaMark Advisors LLC now owns 5,087 shares of the basic materials company’s stock worth $255,000 after purchasing an additional 352 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Trading Down 1.2 %

NYSE:CMC opened at $54.45 on Wednesday. The stock has a market cap of $6.30 billion, a PE ratio of 9.45 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.19 and a quick ratio of 2.69. Commercial Metals has a fifty-two week low of $39.85 and a fifty-two week high of $59.81. The stock’s 50-day moving average is $55.47 and its two-hundred day moving average is $50.23.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results 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 analyst estimates of $1.80 billion. During the same quarter in the prior year, the firm earned $1.44 earnings per share. The firm’s quarterly revenue was down 8.4% compared to the same quarter last year. As a group, equities research analysts forecast that Commercial Metals will post 5.34 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Chairman Barbara Smith sold 35,704 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total value of $2,066,547.52. Following the completion of the sale, the chairman now directly owns 36,196 shares in the company, valued at approximately $2,095,024.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Barbara Smith sold 35,704 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total value of $2,066,547.52. Following the completion of the sale, the chairman now directly owns 36,196 shares in the company, valued at approximately $2,095,024.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Lindsay L. Sloan sold 600 shares of Commercial Metals stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $51.52, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 120,089 shares of company stock worth $6,402,693. 1.00% of the stock is currently 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.