MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $42.88 Million Stock Holdings in Commercial Metals (NYSE:CMC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Commercial Metals (NYSE:CMC) by 5.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 864,544 shares of the basic materials company’s stock after buying an additional 46,057 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.76% of Commercial Metals worth $42,881,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CMC. Heck Capital Advisors LLC acquired a new stake in shares of Commercial Metals during the 4th quarter worth $34,000. V Square Quantitative Management LLC grew its holdings in shares of Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 267 shares in the last quarter. South Plains Financial Inc. acquired a new stake in shares of Commercial Metals during the 4th quarter worth $73,000. Jones Financial Companies Lllp grew its holdings in shares of Commercial Metals by 22.0% during 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 in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Commercial Metals during the 4th quarter worth $105,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

NYSE:CMC opened at $47.84 on Wednesday. The stock’s 50-day simple moving average is $44.66 and its 200 day simple moving average is $50.47. The firm has a market capitalization of $5.41 billion, a PE ratio of 43.10, a price-to-earnings-growth 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 has a twelve month low of $37.92 and a twelve month high of $64.53.

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 the consensus estimate of $0.31 by ($0.05). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. Commercial Metals’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 earnings per share. On average, analysts anticipate that Commercial Metals will post 3.09 EPS for the current fiscal 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 given a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 1.51%. Commercial Metals’s dividend payout ratio is presently 120.00%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Morgan Stanley reduced their target price on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, March 7th. BMO Capital Markets reduced their price objective on 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. Finally, UBS Group reduced their price objective on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $60.33.

Insider Buying and Selling at Commercial Metals

In other news, Director John R. Mcpherson bought 2,475 shares of the company’s stock in a transaction on Friday, April 4th. The stock was purchased at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the transaction, the director now 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 purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate 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.