Paradiem LLC Reduces Holdings in Commercial Metals (NYSE:CMC)

Paradiem LLC lowered its position in shares of Commercial Metals (NYSE:CMC) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,808 shares of the basic materials company’s stock after selling 2,221 shares during the period. Paradiem LLC’s holdings in Commercial Metals were worth $3,843,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CMC. SG Americas Securities LLC raised its stake in shares of Commercial Metals by 89.7% during the third quarter. SG Americas Securities LLC now owns 27,024 shares of the basic materials company’s stock valued at $1,335,000 after purchasing an additional 12,776 shares during the period. Oak Thistle LLC purchased a new stake in shares of Commercial Metals during the third quarter valued at approximately $220,000. Handelsbanken Fonder AB raised its stake in shares of Commercial Metals by 44.8% during the third quarter. Handelsbanken Fonder AB now owns 21,000 shares of the basic materials company’s stock valued at $1,038,000 after purchasing an additional 6,500 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Commercial Metals by 34.5% during the third quarter. Commonwealth Equity Services LLC now owns 24,117 shares of the basic materials company’s stock valued at $1,192,000 after purchasing an additional 6,187 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Commercial Metals by 32.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 22,689 shares of the basic materials company’s stock valued at $1,121,000 after purchasing an additional 5,495 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insiders Place Their Bets

In other Commercial Metals news, Chairman Barbara Smith sold 23,619 shares of Commercial Metals stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $51.65, for a total value of $1,219,921.35. Following the completion of the transaction, the chairman now owns 72,400 shares of the company’s stock, valued at $3,739,460. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 119,489 shares of company stock valued at $6,371,781 over the last 90 days. 1.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CMC shares. UBS Group started coverage on shares of Commercial Metals in a research report on Tuesday, January 16th. They set a “buy” rating and a $65.00 price target for the company. StockNews.com downgraded shares of Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Finally, BMO Capital Markets raised their price target on shares of Commercial Metals from $52.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd.

Commercial Metals Stock Down 0.4 %

Shares of CMC stock traded down $0.23 during mid-day trading on Friday, reaching $53.48. 530,880 shares of the company were exchanged, compared to its average volume of 699,467. Commercial Metals has a fifty-two week low of $39.85 and a fifty-two week high of $59.81. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.69 and a current ratio of 4.19. The company has a market capitalization of $6.19 billion, a P/E ratio of 9.28 and a beta of 1.33. The business’s 50 day simple moving average is $55.41 and its 200 day simple moving average is $50.33.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.05). The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 EPS. Research analysts predict that Commercial Metals will post 5.34 earnings per share for the current year.

Commercial Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Thursday, March 28th. This is an increase from Commercial Metals’s previous quarterly dividend of $0.16. Commercial Metals’s payout ratio is currently 12.50%.

Commercial Metals 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.