ExodusPoint Capital Management LP Sells 333,688 Shares of Commercial Metals (NYSE:CMC)

ExodusPoint Capital Management LP reduced its position in shares of Commercial Metals (NYSE:CMC) by 88.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,334 shares of the basic materials company’s stock after selling 333,688 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Commercial Metals were worth $2,249,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CMC. Heck Capital Advisors LLC bought a new stake in shares of Commercial Metals in the 4th quarter valued at about $34,000. V Square Quantitative Management LLC increased its position 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 worth $35,000 after buying an additional 267 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Commercial Metals by 22.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after buying an additional 297 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Commercial Metals in the fourth quarter valued at approximately $105,000. Finally, Amundi boosted its stake in shares of Commercial Metals by 29.9% during the 4th quarter. Amundi now owns 2,189 shares of the basic materials company’s stock worth $108,000 after acquiring an additional 504 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Down 1.0 %

Shares of NYSE CMC opened at $40.53 on Tuesday. Commercial Metals has a 52 week low of $37.92 and a 52 week high of $64.53. The stock’s fifty day moving average is $47.89 and its 200 day moving average is $52.38. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The stock has a market capitalization of $4.58 billion, a P/E ratio of 36.51, a PEG ratio of 2.62 and a beta of 1.16.

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

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Monday, March 31st will be given a dividend of $0.18 per share. The ex-dividend date is Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.78%. Commercial Metals’s dividend payout ratio is currently 120.00%.

Insider Buying and Selling at Commercial Metals

In related news, Director John R. Mcpherson bought 2,475 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were purchased at an average price of $40.42 per share, with a total value of $100,039.50. Following the completion of the purchase, the director now owns 15,141 shares in the company, valued at $611,999.22. This represents a 19.54 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

CMC has been the subject of several research reports. UBS Group cut their price target on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, March 24th. BMO Capital Markets cut their target price on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research note on Friday, March 21st. Jefferies Financial Group decreased their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Morgan Stanley cut their price objective on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Finally, BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $60.33.

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.