Cresset Asset Management LLC Has $1.06 Million Holdings in Commercial Metals (NYSE:CMC)

Cresset Asset Management LLC cut its position in Commercial Metals (NYSE:CMC) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,350 shares of the basic materials company’s stock after selling 2,123 shares during the period. Cresset Asset Management LLC’s holdings in Commercial Metals were worth $1,059,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its position in Commercial Metals by 66.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 71,151 shares of the basic materials company’s stock valued at $3,529,000 after buying an additional 28,297 shares in the last quarter. Covea Finance lifted its position in shares of Commercial Metals by 44.2% during the fourth quarter. Covea Finance now owns 62,000 shares of the basic materials company’s stock worth $3,075,000 after purchasing an additional 19,000 shares in the last quarter. Spring Capital Management LLC acquired a new position in shares of Commercial Metals during the fourth quarter worth approximately $248,000. First Dallas Securities Inc. lifted its position in shares of Commercial Metals by 41.5% during the fourth quarter. First Dallas Securities Inc. now owns 30,079 shares of the basic materials company’s stock worth $1,492,000 after purchasing an additional 8,828 shares in the last quarter. Finally, Hodges Capital Management Inc. lifted its position in shares of Commercial Metals by 24.2% during the fourth quarter. Hodges Capital Management Inc. now owns 290,942 shares of the basic materials company’s stock worth $14,431,000 after purchasing an additional 56,666 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John R. Mcpherson bought 2,475 shares of the stock in a transaction on Friday, April 4th. The stock was purchased at an average price of $40.42 per share, with a total value of $100,039.50. Following the completion of the purchase, the director now owns 15,141 shares of the company’s stock, valued at approximately $611,999.22. This trade represents a 19.54% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.

Commercial Metals Trading Down 0.1%

CMC opened at $46.11 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The company has a market cap of $5.21 billion, a price-to-earnings ratio of 41.54, a price-to-earnings-growth ratio of 2.62 and a beta of 1.29. The firm has a 50 day simple moving average of $44.60 and a 200 day simple moving average of $50.52. Commercial Metals has a fifty-two week low of $37.92 and a fifty-two week high of $64.53.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm earned $0.88 earnings per share. On average, sell-side analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals’s dividend payout ratio (DPR) is 120.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CMC. UBS Group reduced 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 reduced their target price on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. Finally, BMO Capital Markets reduced their target price on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research report on Friday, March 21st. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $60.33.

About Commercial Metals

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.