Xponance Inc. Buys 1,062 Shares of Commercial Metals (NYSE:CMC)

Xponance Inc. grew its stake in Commercial Metals (NYSE:CMC) by 6.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,997 shares of the basic materials company’s stock after acquiring an additional 1,062 shares during the quarter. Xponance Inc.’s holdings in Commercial Metals were worth $901,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CMC. AIA Group Ltd bought a new position in shares of Commercial Metals during the fourth quarter valued at $971,000. Federated Hermes Inc. lifted its holdings in shares of Commercial Metals by 2.3% during the fourth quarter. Federated Hermes Inc. now owns 260,740 shares of the basic materials company’s stock valued at $13,047,000 after purchasing an additional 5,972 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Commercial Metals during the fourth quarter valued at $30,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Commercial Metals by 18.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,880 shares of the basic materials company’s stock valued at $1,595,000 after purchasing an additional 5,007 shares in the last quarter. Finally, Peirce Capital Management LLC bought a new position in shares of Commercial Metals during the fourth quarter valued at $769,000. 86.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CMC has been the subject of several research analyst reports. UBS Group initiated coverage on Commercial Metals in a research report on Tuesday, January 16th. They set a “buy” rating and a $65.00 target price for the company. StockNews.com cut Commercial Metals from a “buy” rating to a “hold” rating in a research report on Thursday, April 18th. Finally, BMO Capital Markets increased their target price on Commercial Metals from $52.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd.

Insider Activity

In other news, Chairman Barbara Smith sold 60,166 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $51.28, for a total value of $3,085,312.48. Following the completion of the sale, the chairman now directly owns 96,019 shares of the company’s stock, valued at approximately $4,923,854.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 119,489 shares of company stock valued at $6,371,781 in the last ninety days. Insiders own 1.00% of the company’s stock.

Commercial Metals Stock Performance

NYSE CMC opened at $53.70 on Friday. The stock has a market capitalization of $6.21 billion, a PE ratio of 9.32 and a beta of 1.33. The business has a 50 day simple moving average of $55.45 and a two-hundred day simple moving average of $50.28. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.19 and a quick ratio of 2.69. Commercial Metals has a 1-year low of $39.85 and a 1-year high of $59.81.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, March 21st. The basic materials company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.05). The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The business’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.44 EPS. On average, research analysts predict that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Monday, April 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.34%. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Thursday, March 28th. Commercial Metals’s dividend payout ratio (DPR) is presently 12.50%.

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.