Commercial Metals (NYSE:CMC) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in shares of Commercial Metals (NYSE:CMC) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,142 shares of the basic materials company’s stock after acquiring an additional 906 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Commercial Metals were worth $850,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMC. New Age Alpha Advisors LLC acquired a new stake in shares of Commercial Metals during the 4th quarter worth about $105,000. Norges Bank acquired a new stake in shares of Commercial Metals during the fourth quarter valued at about $69,261,000. JPMorgan Chase & Co. raised 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 acquiring an additional 495,163 shares during the period. Stevens Capital Management LP acquired a new position in shares of Commercial Metals in the 4th quarter worth approximately $276,000. Finally, LPL Financial LLC boosted its position in shares of Commercial Metals by 9.7% during the 4th quarter. LPL Financial LLC now owns 41,483 shares of the basic materials company’s stock worth $2,058,000 after purchasing an additional 3,661 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Down 1.0 %

CMC stock opened at $40.53 on Tuesday. Commercial Metals has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The company’s 50 day moving average price is $47.89 and its 200 day moving average price is $52.38. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 36.51, a PEG ratio of 2.62 and a beta of 1.16.

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 analysts’ consensus estimates of $0.31 by ($0.05). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates 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 previous year, the business posted $0.88 earnings per share. On average, equities research analysts anticipate that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.78%. Commercial Metals’s dividend payout ratio is currently 120.00%.

Insider Activity

In related news, Director John R. Mcpherson bought 2,475 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $40.42 per share, with a total value of $100,039.50. Following the transaction, the director now directly owns 15,141 shares of the company’s stock, valued at approximately $611,999.22. This represents a 19.54 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

CMC has been the topic of a number of research analyst reports. Morgan Stanley decreased their price target on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. BMO Capital Markets cut 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. Jefferies Financial Group lowered their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, UBS Group cut their target price on shares of 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 given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.33.

Commercial Metals Company 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.