MetLife Investment Management LLC Has $6.48 Million Position in Commercial Metals (NYSE:CMC)

MetLife Investment Management LLC lifted its holdings in Commercial Metals (NYSE:CMC) by 5.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 130,553 shares of the basic materials company’s stock after buying an additional 7,195 shares during the quarter. MetLife Investment Management LLC’s holdings in Commercial Metals were worth $6,475,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Heck Capital Advisors LLC bought a new position in Commercial Metals in the fourth quarter valued at approximately $34,000. V Square Quantitative Management LLC lifted its position in Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 267 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock worth $82,000 after purchasing an additional 297 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Commercial Metals in the 4th quarter valued at about $105,000. Finally, Covestor Ltd raised its stake in shares of Commercial Metals by 19.0% in the 4th quarter. Covestor Ltd now owns 2,148 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 343 shares during the period. 86.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CMC shares. Jefferies Financial Group decreased their price objective on 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 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. BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. UBS Group decreased their target price on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Finally, BMO Capital Markets lowered their price target on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research note on Friday, March 21st. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $60.33.

Commercial Metals Stock Performance

Shares of CMC opened at $42.84 on Wednesday. The company has a market cap of $4.84 billion, a PE ratio of 38.60, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. The firm has a 50-day moving average of $45.89 and a 200-day moving average of $51.31. Commercial Metals has a one year low of $37.92 and a one year high of $64.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The business 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 company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. As a group, equities analysts forecast that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals’s dividend payout ratio (DPR) is presently 120.00%.

Insider Buying and Selling at Commercial Metals

In related news, Director John R. Mcpherson acquired 2,475 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were bought 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.46% of the company’s stock.

Commercial Metals 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.