Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Commercial Metals (NYSE:CMC)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Commercial Metals (NYSE:CMC) by 18.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 31,880 shares of the basic materials company’s stock after purchasing an additional 5,007 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Commercial Metals were worth $1,595,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. SG Americas Securities LLC raised its holdings in Commercial Metals by 89.7% in the 3rd quarter. SG Americas Securities LLC now owns 27,024 shares of the basic materials company’s stock worth $1,335,000 after acquiring an additional 12,776 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in Commercial Metals in the 3rd quarter worth approximately $221,000. Avior Wealth Management LLC raised its holdings in Commercial Metals by 18.8% in the 3rd quarter. Avior Wealth Management LLC now owns 5,909 shares of the basic materials company’s stock worth $292,000 after acquiring an additional 935 shares during the last quarter. Oak Thistle LLC purchased a new position in Commercial Metals in the 3rd quarter worth approximately $220,000. Finally, Handelsbanken Fonder AB raised its stake in Commercial Metals by 44.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 21,000 shares of the basic materials company’s stock valued at $1,038,000 after buying an additional 6,500 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMC has been the subject of a number of research reports. StockNews.com lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. UBS Group initiated 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. Finally, BMO Capital Markets boosted their target price on shares of Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd.

Commercial Metals Stock Performance

Shares of CMC stock opened at $53.70 on Friday. Commercial Metals has a 1 year low of $39.85 and a 1 year high of $59.81. The firm has a fifty day moving average price of $55.45 and a 200-day moving average price of $50.28. 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 company has a market cap of $6.21 billion, a price-to-earnings ratio of 9.32 and a beta of 1.33.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.80 billion. During the same period in the previous year, the firm earned $1.44 EPS. The company’s revenue was down 8.4% on a year-over-year basis. As a group, equities 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. Stockholders of record on Monday, April 1st were given a dividend of $0.18 per share. This is an increase from Commercial Metals’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, March 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.34%. Commercial Metals’s payout ratio is presently 12.50%.

Insider Activity

In other news, Chairman Barbara Smith sold 23,619 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $3,739,460. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 119,489 shares of company stock valued at $6,371,781 in the last 90 days. Company 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.