M&T Bank Corp Has $999,000 Stake in Commercial Metals Company $CMC

M&T Bank Corp raised its position in Commercial Metals Company (NYSE:CMC) by 145.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,428 shares of the basic materials company’s stock after purchasing an additional 8,554 shares during the quarter. M&T Bank Corp’s holdings in Commercial Metals were worth $999,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CMC. Root Financial Partners LLC acquired a new stake in shares of Commercial Metals in the 3rd quarter valued at about $25,000. Rothschild Investment LLC raised its stake in shares of Commercial Metals by 169.6% in the 3rd quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 324 shares during the period. Spire Wealth Management raised its stake in shares of 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 purchasing an additional 183 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Commercial Metals in the 4th quarter valued at about $54,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Commercial Metals in the 3rd quarter valued at about $73,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Buying and Selling at Commercial Metals

In related news, insider Jennifer J. Durbin sold 25,050 shares of Commercial Metals stock in a transaction dated 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 completion of the transaction, the insider owned 52,880 shares in the company, valued at approximately $4,228,813.60. This trade represents a 32.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.62% of the stock is owned by insiders.

Commercial Metals Price Performance

Shares of NYSE CMC opened at $69.01 on Friday. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.39 and a beta of 1.47. The business has a 50-day moving average of $66.05 and a 200-day moving average of $67.69. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.38 and a quick ratio of 1.55. Commercial Metals Company has a fifty-two week low of $44.64 and a fifty-two week high of $84.87.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 26th. The basic materials company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.12). The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.10 billion. Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. Commercial Metals’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.26 EPS. As a group, sell-side analysts predict that Commercial Metals Company will post 6.75 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, April 6th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was 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 16.04%.

Analyst Ratings Changes

CMC has been the topic of several recent research reports. KeyCorp initiated coverage on Commercial Metals in a research note on Wednesday, March 25th. They issued a “sector weight” rating on the stock. The Goldman Sachs Group initiated coverage on Commercial Metals in a research note on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 price target on the stock. Jefferies Financial Group set a $85.00 price target on Commercial Metals and gave the company a “buy” rating in a research note on Thursday, January 8th. Morgan Stanley lifted their price target on Commercial Metals from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, January 9th. Finally, Citigroup raised their price objective on Commercial Metals from $65.00 to $85.00 and gave the company a “buy” rating in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.50.

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.