Caisse DE Depot ET Placement DU Quebec Raises Position in Commercial Metals (NYSE:CMC)

Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of Commercial Metals (NYSE:CMC) by 10.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 335,038 shares of the basic materials company’s stock after buying an additional 30,609 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Commercial Metals were worth $16,618,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ashton Thomas Private Wealth LLC grew its holdings in shares of Commercial Metals by 5.3% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 4,528 shares of the basic materials company’s stock worth $225,000 after purchasing an additional 229 shares in the last quarter. Mariner LLC lifted its position in Commercial Metals by 0.9% during the fourth quarter. Mariner LLC now owns 24,735 shares of the basic materials company’s stock valued at $1,227,000 after purchasing an additional 232 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Commercial Metals by 3.5% in the 4th quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company’s stock worth $355,000 after buying an additional 242 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Commercial Metals by 10.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock valued at $138,000 after buying an additional 254 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Commercial Metals by 0.8% during the 4th quarter. Arizona State Retirement System now owns 33,373 shares of the basic materials company’s stock worth $1,655,000 after acquiring an additional 262 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director John R. Mcpherson purchased 2,475 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the acquisition, the director now directly owns 15,141 shares in the company, valued at approximately $611,999.22. The trade was a 19.54 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by insiders.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $46.49 on Friday. 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 has a one year low of $37.92 and a one year high of $64.53. The business’s 50 day simple moving average is $44.83 and its two-hundred day simple moving average is $50.85. The stock has a market capitalization of $5.25 billion, a P/E ratio of 41.88, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16.

Commercial Metals (NYSE:CMC) last issued 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). 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%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 earnings per share. Analysts forecast that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were issued a dividend of $0.18 per share. 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 1.55%. Commercial Metals’s dividend payout ratio is currently 120.00%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CMC shares. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. UBS Group dropped their target price on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. BMO Capital Markets reduced 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 report 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. Finally, 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 note on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.