Systematic Financial Management LP Buys 7,431 Shares of Commercial Metals (NYSE:CMC)

Systematic Financial Management LP lifted its stake in Commercial Metals (NYSE:CMC) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 557,366 shares of the basic materials company’s stock after purchasing an additional 7,431 shares during the period. Systematic Financial Management LP’s holdings in Commercial Metals were worth $27,645,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in CMC. Heck Capital Advisors LLC bought a new position in shares of Commercial Metals in the fourth quarter worth approximately $34,000. V Square Quantitative Management LLC raised its stake in Commercial Metals by 60.7% during the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 267 shares in the last quarter. South Plains Financial Inc. purchased a new stake in Commercial Metals during the fourth quarter valued at $73,000. Jones Financial Companies Lllp raised its stake in Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 297 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Commercial Metals in the fourth quarter valued at $105,000. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Stock Up 0.0%

Shares of Commercial Metals stock opened at $48.04 on Friday. The firm’s 50 day moving average price is $44.86 and its 200-day moving average price is $50.37. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. Commercial Metals has a 52-week low of $37.92 and a 52-week high of $64.53. The company has a market cap of $5.43 billion, a P/E ratio of 43.28, a PEG ratio of 2.62 and a beta of 1.29.

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

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals’s payout ratio is 120.00%.

Insider Buying and Selling at Commercial Metals

In other news, Director John R. Mcpherson bought 2,475 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the purchase, the director now directly owns 15,141 shares in the company, valued at approximately $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 hyperlink. Company insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. UBS Group cut their price target on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. BMO Capital Markets cut their price target on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a report on Friday, March 21st. Finally, Morgan Stanley cut their price target on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock 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.