Commercial Metals (NYSE:CMC) Shares Bought by Vontobel Holding Ltd.

Vontobel Holding Ltd. grew its stake in shares of Commercial Metals (NYSE:CMC) by 63.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,586 shares of the basic materials company’s stock after acquiring an additional 4,900 shares during the period. Vontobel Holding Ltd.’s holdings in Commercial Metals were worth $630,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. SG Americas Securities LLC boosted its stake in shares of Commercial Metals by 89.7% during the 3rd quarter. SG Americas Securities LLC now owns 27,024 shares of the basic materials company’s stock worth $1,335,000 after purchasing an additional 12,776 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in Commercial Metals in the third quarter valued at about $221,000. Avior Wealth Management LLC grew its holdings in Commercial Metals by 18.8% during the 3rd quarter. Avior Wealth Management LLC now owns 5,909 shares of the basic materials company’s stock valued at $292,000 after purchasing an additional 935 shares in the last quarter. Carolina Wealth Advisors LLC grew its position in shares of Commercial Metals by 18.0% during the third quarter. Carolina Wealth Advisors LLC now owns 12,703 shares of the basic materials company’s stock worth $628,000 after buying an additional 1,940 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in Commercial Metals by 63.5% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 27,467 shares of the basic materials company’s stock worth $1,357,000 after buying an additional 10,666 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

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

Commercial Metals Price Performance

Shares of NYSE:CMC opened at $55.12 on Tuesday. The stock has a market capitalization of $6.38 billion, a P/E ratio of 9.57 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.19 and a quick ratio of 2.69. The business has a 50-day moving average of $55.43 and a two-hundred day moving average of $50.19. Commercial Metals has a fifty-two week low of $39.85 and a fifty-two week high of $59.81.

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

Commercial Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, April 1st were given a $0.18 dividend. This is a boost from Commercial Metals’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.31%. The ex-dividend date was Thursday, March 28th. Commercial Metals’s dividend payout ratio (DPR) is 12.50%.

Insiders Place Their Bets

In related news, CAO Lindsay L. Sloan sold 600 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $51.52, for a total value of $30,912.00. Following the sale, the chief accounting officer now owns 12,338 shares of the company’s stock, valued at $635,653.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Barbara Smith sold 23,619 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $51.65, for a total transaction of $1,219,921.35. Following the completion of the sale, the chairman now owns 72,400 shares in the company, valued at approximately $3,739,460. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lindsay L. Sloan sold 600 shares of the business’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $51.52, for a total transaction of $30,912.00. Following the completion of the transaction, the chief accounting officer now owns 12,338 shares in the company, valued at $635,653.76. The disclosure for this sale can be found here. Insiders have sold 120,089 shares of company stock worth $6,402,693 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

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.