Versor Investments LP Buys 5,736 Shares of Commercial Metals (NYSE:CMC)

Versor Investments LP increased its stake in shares of Commercial Metals (NYSE:CMCFree Report) by 56.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 15,936 shares of the basic materials company’s stock after buying an additional 5,736 shares during the period. Versor Investments LP’s holdings in Commercial Metals were worth $797,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. HM Payson & Co. purchased a new stake in shares of Commercial Metals in the third quarter worth about $25,000. Daiwa Securities Group Inc. bought a new position in Commercial Metals in the 4th quarter valued at $30,000. Headlands Technologies LLC purchased a new position in shares of Commercial Metals during the 3rd quarter valued at $51,000. Planned Solutions Inc. bought a new position in shares of Commercial Metals in the fourth quarter worth $73,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Commercial Metals in the fourth quarter worth $74,000. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Trading Down 0.5 %

Shares of CMC traded down $0.26 during mid-day trading on Friday, reaching $57.29. The company’s stock had a trading volume of 473,065 shares, compared to its average volume of 712,776. The company has a current ratio of 4.19, a quick ratio of 2.69 and a debt-to-equity ratio of 0.27. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $59.81. The company’s fifty day moving average price is $55.71 and its two-hundred day moving average price is $51.19. The stock has a market cap of $6.63 billion, a PE ratio of 9.95 and a beta of 1.35.

Commercial Metals (NYSE:CMCGet Free Report) last posted 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). The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The business’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.44 earnings per share. On average, analysts predict that Commercial Metals will post 5.34 earnings per share for the current fiscal 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 paid a $0.18 dividend. 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 yield of 1.26%. The ex-dividend date of this dividend was Thursday, March 28th. Commercial Metals’s payout ratio is 12.50%.

Analyst Ratings Changes

A number of brokerages have weighed in on CMC. 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 research note on Friday, March 22nd. UBS Group initiated coverage on shares of Commercial Metals in a research report on Tuesday, January 16th. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, StockNews.com lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th.

View Our Latest Stock Analysis on CMC

Insider Buying and Selling at Commercial Metals

In other news, Chairman Barbara Smith sold 35,704 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 36,196 shares of the company’s stock, valued at $2,095,024.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Commercial Metals Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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