ProShare Advisors LLC Purchases 10,534 Shares of Commercial Metals (NYSE:CMC)

ProShare Advisors LLC increased its position in Commercial Metals (NYSE:CMC) by 39.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 37,417 shares of the basic materials company’s stock after acquiring an additional 10,534 shares during the quarter. ProShare Advisors LLC’s holdings in Commercial Metals were worth $1,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Heck Capital Advisors LLC bought a new stake in shares of Commercial Metals in the fourth quarter worth $34,000. V Square Quantitative Management LLC grew its holdings 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 valued at $35,000 after purchasing an additional 267 shares during the period. South Plains Financial Inc. bought a new stake in Commercial Metals during the fourth quarter valued at about $73,000. Jones Financial Companies Lllp grew its holdings in Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after purchasing an additional 297 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in Commercial Metals during the fourth quarter valued at about $105,000. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $47.48 on Wednesday. The stock’s 50-day simple moving average is $44.98 and its 200-day simple moving average is $50.25. Commercial Metals has a 52 week low of $37.92 and a 52 week high of $64.53. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 42.77, a PEG ratio of 2.62 and a beta of 1.29. 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 posted its 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 firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. As a group, analysts expect that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were given a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.52%. Commercial Metals’s dividend payout ratio is currently 120.00%.

Insider Buying and Selling

In related news, Director John R. Mcpherson acquired 2,475 shares of Commercial Metals stock in a transaction on 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 purchase, the director now directly owns 15,141 shares of the company’s stock, valued at $611,999.22. The trade was a 19.54% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. 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 price target on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a report on Friday, March 21st. Finally, Morgan Stanley cut their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $60.33.

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.