Aster Capital Management DIFC Ltd Increases Stock Position in Commercial Metals (NYSE:CMC)

Aster Capital Management DIFC Ltd raised its position in Commercial Metals (NYSE:CMC) by 5,796.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,844 shares of the basic materials company’s stock after acquiring an additional 8,694 shares during the quarter. Aster Capital Management DIFC Ltd’s holdings in Commercial Metals were worth $439,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in Commercial Metals during the 4th quarter valued at about $34,000. V Square Quantitative Management LLC increased its stake in shares of Commercial Metals by 60.7% during the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after buying an additional 267 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after acquiring an additional 297 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in Commercial Metals in the fourth quarter worth $105,000. Finally, Amundi boosted its holdings in Commercial Metals by 29.9% in the fourth quarter. Amundi now owns 2,189 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 504 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CMC has been the subject of several research analyst reports. BMO Capital Markets dropped their target price on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research report 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 report on Monday, January 6th. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. UBS Group decreased their target price on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Finally, Morgan Stanley dropped their price target on 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. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $60.33.

Commercial Metals Stock Down 1.6 %

CMC stock opened at $40.95 on Monday. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average of $48.07 and a 200 day moving average of $52.48. Commercial Metals has a twelve month low of $37.92 and a twelve month high of $64.53. The firm has a market cap of $4.63 billion, a PE ratio of 36.89, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the firm earned $0.88 EPS. Commercial Metals’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, research analysts forecast that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Monday, March 31st. Commercial Metals’s payout ratio is 120.00%.

About Commercial Metals

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.