Commercial Metals (NYSE:CMC) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP trimmed its position in shares of Commercial Metals (NYSE:CMC) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,119,662 shares of the basic materials company’s stock after selling 137,367 shares during the period. Dimensional Fund Advisors LP owned approximately 0.06% of Commercial Metals worth $353,134,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. First Trust Advisors LP boosted its stake in Commercial Metals by 34.1% during the 4th quarter. First Trust Advisors LP now owns 1,754,840 shares of the basic materials company’s stock valued at $87,040,000 after acquiring an additional 446,317 shares during the last quarter. GeoWealth Management LLC bought a new position in Commercial Metals in the 4th quarter worth approximately $139,000. CANADA LIFE ASSURANCE Co raised its stake in Commercial Metals by 4.8% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 88,139 shares of the basic materials company’s stock valued at $4,371,000 after acquiring an additional 4,041 shares in the last quarter. Farringdon Capital Ltd. acquired a new position in Commercial Metals during the 4th quarter worth $428,000. Finally, Ontario Teachers Pension Plan Board grew its stake in shares of Commercial Metals by 229.5% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 22,829 shares of the basic materials company’s stock worth $1,132,000 after purchasing an additional 15,901 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. Morgan Stanley reduced their price target on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. UBS Group dropped their target price on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. BMO Capital Markets decreased their price target on 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. Finally, BNP Paribas downgraded Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.33.

Commercial Metals Trading Up 1.5 %

NYSE:CMC opened at $42.32 on Monday. The stock has a fifty day simple moving average of $46.23 and a 200 day simple moving average of $51.45. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of 38.13, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $64.53. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29.

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

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.70%. The ex-dividend date was Monday, March 31st. Commercial Metals’s dividend payout ratio (DPR) is currently 120.00%.

Insider Activity

In related news, Director John R. Mcpherson purchased 2,475 shares of Commercial Metals stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $40.42 per share, with a total value of $100,039.50. Following the completion of the transaction, the director now directly owns 15,141 shares of the company’s stock, valued at $611,999.22. This trade represents a 19.54 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company’s stock.

Commercial Metals Company 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.