Nordea Investment Management AB Purchases 8,767 Shares of Commercial Metals (NYSE: CMC)


Nordea Investment Management AB boosted its position in Commercial Metals (NYSE: CMC – Get Rating) by 3.1% during the first quarter, HoldingsChannel reports. The fund owned 295,464 shares of the basic materials company’s stock after buying an additional 8,767 shares during the quarter. Nordea Investment Management AB’s holdings in Commercial Metals were worth $ 12,149,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI bought a new stake in Commercial Metals in the 4th quarter valued at about $ 29,000. Montag A & Associates Inc. bought a new stake in Commercial Metals in the 4th quarter valued at about $ 36,000. Exchange Traded Concepts LLC raised its stake in Commercial Metals by 127.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,135 shares of the basic materials company’s stock valued at $ 41,000 after acquiring an additional 636 shares during the period. Dark Forest Capital Management LP bought a new stake in Commercial Metals in the 3rd quarter valued at about $ 44,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Commercial Metals in the 4th quarter valued at about $ 154,000. Institutional investors and hedge funds own 85.01% of the company’s stock.

Shares of CMC opened at $ 34.40 on Friday. The firm has a market cap of $ 4.18 billion, a P / E ratio of 3.91 and a beta of 1.14. The stock has a 50 day simple moving average of $ 39.33 and a two-hundred day simple moving average of $ 38.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.48 and a quick ratio of 1.51. Commercial Metals has a 1 year low of $ 28.76 and a 1 year high of $ 46.68.

Commercial Metals (NYSE: CMC – Get Rating) last issued its earnings results on Thursday, June 16th. The basic materials company reported $ 2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 1.47 by $ 1.14. Commercial Metals had a return on equity of 31.92% and a net margin of 12.66%. During the same period last year, the company earned $ 1.04 earnings per share. On average, equities analysts anticipate that Commercial Metals will post 7.63 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 13th. Stockholders of record on Wednesday, June 29th will be paid a dividend of $ 0.14 per share. This represents a $ 0.56 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Tuesday, June 28th. Commercial Metals’ dividend payout ratio (DPR) is presently 6.36%.

Several brokerages have recently weighed in on CMC. Citigroup decreased their price target on Commercial Metals from $ 44.00 to $ 36.00 and set a “neutral” rating on the stock in a research report on Friday, June 17th. StockNews.com cut Commercial Metals from a “buy” rating to a “hold” rating in a research report on Monday. KeyCorp boosted their price objective on Commercial Metals from $ 48.00 to $ 49.00 and gave the stock an “overweight” rating in a report on Tuesday, June 7th. Credit Suisse Group boosted their price objective on Commercial Metals from $ 37.00 to $ 39.00 and gave the stock a “neutral” rating in a report on Friday, June 17th. Finally, JPMorgan Chase & Co. cut their price objective on Commercial Metals from $ 55.00 to $ 54.00 in a report on Tuesday, June 14th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $ 42.80.

In other news, CEO Barbara Smith sold 13,582 shares of the stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $ 46.46, for a total transaction of $ 631,019.72. Following the completion of the sale, the chief executive officer now owns 520,203 shares of the company’s stock, valued at $ 24,168,631.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John R. Mcpherson acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, April 26th. The shares were bought at an average cost of $ 40.55 per share, with a total value of $ 202,750.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at approximately $ 202,750. The disclosure for this purchase can be found here. Corporate insiders own 1.20% of the company’s stock.

About Commercial Metals (Get Rating)

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. 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.

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Institutional Ownership by Quarter for Commercial Metals (NYSE: CMC)



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