MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 46,057 Shares of Commercial Metals (NYSE:CMC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Commercial Metals (NYSE:CMC) by 5.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 864,544 shares of the basic materials company’s stock after acquiring an additional 46,057 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Commercial Metals were worth $42,881,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. increased its holdings in Commercial Metals by 1.4% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,262,895 shares of the basic materials company’s stock worth $62,640,000 after purchasing an additional 17,360 shares in the last quarter. Gotham Asset Management LLC increased its holdings in shares of Commercial Metals by 173.5% during the fourth quarter. Gotham Asset Management LLC now owns 44,644 shares of the basic materials company’s stock valued at $2,214,000 after acquiring an additional 28,323 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Commercial Metals by 124.5% during the fourth quarter. Focus Partners Wealth now owns 17,742 shares of the basic materials company’s stock valued at $880,000 after acquiring an additional 9,838 shares in the last quarter. Ethic Inc. increased its holdings in shares of Commercial Metals by 89.3% during the fourth quarter. Ethic Inc. now owns 7,292 shares of the basic materials company’s stock valued at $362,000 after acquiring an additional 3,440 shares in the last quarter. Finally, Expect Equity LLC bought a new stake in shares of Commercial Metals during the fourth quarter valued at approximately $2,457,000. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Stock Down 1.2%

CMC stock opened at $47.84 on Wednesday. The stock’s fifty day simple moving average is $44.66 and its two-hundred day simple moving average is $50.47. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $64.53. The stock has a market cap of $5.41 billion, a P/E ratio of 43.10, a P/E/G ratio of 2.62 and a beta of 1.29.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 earnings per share. Analysts expect that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.51%. Commercial Metals’s payout ratio is presently 120.00%.

Insider Buying and Selling at Commercial Metals

In related news, Director John R. Mcpherson acquired 2,475 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the purchase, the director now owns 15,141 shares in the company, valued at $611,999.22. This trade represents a 19.54% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CMC. Morgan Stanley decreased their price objective on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. BMO Capital Markets decreased their price objective on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a report on Friday, March 21st. Finally, UBS Group decreased their price objective on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $60.33.

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.