Vaughan Nelson Investment Management L.P. Purchases 27,775 Shares of Commercial Metals Company $CMC

Vaughan Nelson Investment Management L.P. boosted its position in Commercial Metals Company (NYSE:CMC) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 977,385 shares of the basic materials company’s stock after purchasing an additional 27,775 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Commercial Metals were worth $67,655,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of Commercial Metals by 2.3% during the third quarter. Blue Trust Inc. now owns 7,867 shares of the basic materials company’s stock worth $451,000 after purchasing an additional 180 shares during the last quarter. Spire Wealth Management raised its holdings in Commercial Metals by 42.4% in the 3rd quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock valued at $35,000 after buying an additional 183 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its position in Commercial Metals by 4.0% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 4,755 shares of the basic materials company’s stock worth $272,000 after buying an additional 184 shares during the period. Quadrant Capital Group LLC boosted its position in Commercial Metals by 2.9% during the 3rd quarter. Quadrant Capital Group LLC now owns 6,626 shares of the basic materials company’s stock worth $380,000 after buying an additional 188 shares during the period. Finally, Captrust Financial Advisors grew its holdings in Commercial Metals by 4.4% during the 2nd quarter. Captrust Financial Advisors now owns 4,813 shares of the basic materials company’s stock worth $235,000 after acquiring an additional 202 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Commercial Metals news, Director Dennis V. Arriola purchased 2,000 shares of the company’s stock in a transaction on Tuesday, January 20th. The shares were purchased at an average cost of $74.69 per share, with a total value of $149,380.00. Following the completion of the purchase, the director owned 9,238 shares in the company, valued at $689,986.22. This represents a 27.63% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer J. Durbin sold 25,050 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $79.97, for a total transaction of $2,003,248.50. Following the sale, the insider directly owned 52,880 shares of the company’s stock, valued at approximately $4,228,813.60. This trade represents a 32.14% decrease in their position. The SEC filing for this sale provides additional information. 0.62% of the stock is owned by corporate insiders.

Commercial Metals Trading Up 3.4%

NYSE:CMC opened at $60.26 on Tuesday. The firm’s fifty day moving average is $72.31 and its 200-day moving average is $66.62. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.55 and a current ratio of 2.38. Commercial Metals Company has a 52 week low of $37.92 and a 52 week high of $84.87. The firm has a market cap of $6.68 billion, a P/E ratio of 13.42, a P/E/G ratio of 0.32 and a beta of 1.47.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, March 26th. The basic materials company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.12). The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.10 billion. Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.Commercial Metals’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 EPS. Equities analysts expect that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, April 6th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, April 6th. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.18. Commercial Metals’s dividend payout ratio is currently 16.04%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CMC shares. JPMorgan Chase & Co. dropped their price target on shares of Commercial Metals from $85.00 to $83.00 and set an “overweight” rating for the company in a research note on Friday. Jefferies Financial Group set a $85.00 price objective on shares of Commercial Metals and gave the stock a “buy” rating in a research note on Thursday, January 8th. Morgan Stanley raised their target price on Commercial Metals from $68.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commercial Metals in a report on Wednesday, January 21st. Finally, Wells Fargo & Company reduced their price target on Commercial Metals from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Commercial Metals has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Commercial Metals Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.