Sherbrooke Park Advisers LLC Makes New $308,000 Investment in Commercial Metals (NYSE:CMC)

Sherbrooke Park Advisers LLC purchased a new position in shares of Commercial Metals (NYSE:CMC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,209 shares of the basic materials company’s stock, valued at approximately $308,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CMC. Norges Bank acquired a new stake in shares of Commercial Metals in the 4th quarter valued at $69,261,000. Franklin Resources Inc. boosted its stake in shares of Commercial Metals by 87.0% in the 4th quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company’s stock valued at $95,204,000 after purchasing an additional 893,094 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of Commercial Metals by 15,350.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 568,095 shares of the basic materials company’s stock valued at $28,178,000 after purchasing an additional 564,418 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Commercial Metals by 45.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,576,316 shares of the basic materials company’s stock valued at $78,185,000 after purchasing an additional 495,163 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Commercial Metals by 34.1% in 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 purchasing an additional 446,317 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Performance

Shares of NYSE:CMC opened at $48.04 on Monday. The stock has a market capitalization of $5.43 billion, a P/E ratio of 43.28, a P/E/G ratio of 2.62 and a beta of 1.29. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $64.53. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $44.86 and a two-hundred day moving average price of $50.31.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). The firm 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 business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. Equities analysts predict that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were paid 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 1.50%. Commercial Metals’s dividend payout ratio (DPR) is presently 120.00%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, Director John R. Mcpherson purchased 2,475 shares of the stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $40.42 per share, with a total value of $100,039.50. Following the purchase, the director now directly owns 15,141 shares in the company, valued at $611,999.22. The trade was a 19.54% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.46% of the stock is currently owned by company insiders.

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.