Jane Street Group LLC reduced its stake in Commercial Metals (NYSE:CMC) by 51.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,040 shares of the basic materials company’s stock after selling 11,851 shares during the quarter. Jane Street Group LLC’s holdings in Commercial Metals were worth $235,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Strs Ohio lifted its position in shares of Commercial Metals by 176.5% in the fourth quarter. Strs Ohio now owns 4,700 shares of the basic materials company’s stock valued at $100,000 after acquiring an additional 3,000 shares in the last quarter. Cerebellum GP LLC purchased a new stake in shares of Commercial Metals in the fourth quarter valued at $129,000. Global X Management Co. LLC lifted its position in shares of Commercial Metals by 75.2% in the fourth quarter. Global X Management Co. LLC now owns 8,040 shares of the basic materials company’s stock valued at $171,000 after acquiring an additional 3,450 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Commercial Metals by 38.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,092 shares of the basic materials company’s stock valued at $173,000 after acquiring an additional 2,239 shares in the last quarter. Finally, CoreCommodity Management LLC purchased a new stake in shares of Commercial Metals in the fourth quarter valued at $223,000. Institutional investors and hedge funds own 88.28% of the company’s stock.
Several analysts have recently issued reports on CMC shares. Longbow Research started coverage on Commercial Metals in a research report on Friday, April 6th. They issued a “buy” rating and a $27.00 price objective on the stock. ValuEngine upgraded Commercial Metals from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research upgraded Commercial Metals from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Tuesday, March 20th. Jefferies Group reiterated a “buy” rating on shares of Commercial Metals in a research note on Friday, March 23rd. Finally, Deutsche Bank dropped their target price on Commercial Metals from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, March 29th. Four analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $23.44.
Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, March 22nd. The basic materials company reported $0.26 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.26. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.19 billion. Commercial Metals had a return on equity of 8.05% and a net margin of 1.15%. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 earnings per share. research analysts predict that Commercial Metals will post 1.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 19th. Investors of record on Wednesday, April 4th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, April 3rd. This represents a $0.48 annualized dividend and a yield of 2.19%. Commercial Metals’s payout ratio is currently 77.42%.
In other Commercial Metals news, VP Adam R. Hickey sold 20,000 shares of the company’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $25.85, for a total transaction of $517,000.00. Following the completion of the sale, the vice president now directly owns 15,632 shares in the company, valued at $404,087.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.50% of the company’s stock.
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About Commercial Metals
Commercial Metals Company manufactures, recycles, and markets steel and metal products, and related materials and services in the United States and internationally. It operates through five segments: Americas Recycling, Americas Mills, Americas Fabrication, International Mill, and International Marketing and Distribution.
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