M&T Bank Corp Acquires 8,554 Shares of Commercial Metals Company $CMC

M&T Bank Corp increased its holdings in shares of Commercial Metals Company (NYSE:CMC) by 145.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,428 shares of the basic materials company’s stock after acquiring an additional 8,554 shares during the period. M&T Bank Corp’s holdings in Commercial Metals were worth $999,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Spire Wealth Management boosted its position 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% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 4,755 shares of the basic materials company’s stock valued at $272,000 after buying an additional 184 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Commercial Metals by 2.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 6,626 shares of the basic materials company’s stock valued at $380,000 after buying an additional 188 shares during the last quarter. Captrust Financial Advisors boosted its position in Commercial Metals by 4.4% in the 2nd quarter. Captrust Financial Advisors now owns 4,813 shares of the basic materials company’s stock valued at $235,000 after buying an additional 202 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Commercial Metals by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,543 shares of the basic materials company’s stock valued at $1,383,000 after buying an additional 206 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CMC shares. Wall Street Zen lowered Commercial Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 4th. JPMorgan Chase & Co. decreased their price objective on Commercial Metals from $83.00 to $78.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 14th. Jefferies Financial Group set a $85.00 price objective on Commercial Metals and gave the company a “buy” rating in a research report on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Commercial Metals in a research report on Wednesday, January 21st. Finally, Morgan Stanley increased their price objective on Commercial Metals from $68.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.50.

Insider Buying and Selling

In related news, insider Jennifer J. Durbin sold 25,050 shares of the firm’s stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.62% of the company’s stock.

Commercial Metals Stock Performance

CMC stock opened at $69.01 on Friday. The business’s fifty day moving average is $66.05 and its 200-day moving average is $67.69. The company has a quick ratio of 1.55, a current ratio of 2.38 and a debt-to-equity ratio of 0.75. The company has a market cap of $7.65 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 0.39 and a beta of 1.47. Commercial Metals Company has a twelve month low of $44.64 and a twelve month high of $84.87.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, March 26th. The basic materials company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.12). The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.10 billion. Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.26 EPS. Equities research analysts forecast that Commercial Metals Company will post 6.75 EPS for the current year.

Commercial Metals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, April 6th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Monday, April 6th. This is a boost from Commercial Metals’s previous quarterly dividend of $0.18. Commercial Metals’s dividend payout ratio (DPR) is 16.04%.

Commercial Metals Company 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.