Adirondack Trust Co. Increases Stake in Commercial Metals (NYSE:CMC)

Adirondack Trust Co. raised its position in Commercial Metals (NYSE:CMC) by 88.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,200 shares of the basic materials company’s stock after purchasing an additional 1,500 shares during the period. Adirondack Trust Co.’s holdings in Commercial Metals were worth $173,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Preferred LLC lifted its holdings in Commercial Metals by 114.0% in the 4th quarter. Advisors Preferred LLC now owns 60,810 shares of the basic materials company’s stock valued at $3,051,000 after purchasing an additional 32,393 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Commercial Metals by 193.1% in the 4th quarter. First Eagle Investment Management LLC now owns 154,329 shares of the basic materials company’s stock worth $7,723,000 after acquiring an additional 101,675 shares during the last quarter. Cim LLC acquired a new stake in shares of Commercial Metals in the 4th quarter worth $2,120,000. Raymond James & Associates increased its stake in shares of Commercial Metals by 23.5% in the 4th quarter. Raymond James & Associates now owns 118,904 shares of the basic materials company’s stock worth $5,950,000 after acquiring an additional 22,619 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in shares of Commercial Metals by 270.1% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 137,240 shares of the basic materials company’s stock worth $6,918,000 after acquiring an additional 100,160 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CMC. BMO Capital Markets raised their target price on Commercial Metals from $52.00 to $60.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. StockNews.com downgraded Commercial Metals from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th.

Commercial Metals Stock Down 0.2 %

Shares of NYSE:CMC opened at $50.75 on Wednesday. The business has a 50-day moving average price of $55.10 and a 200 day moving average price of $53.22. The company has a current ratio of 4.19, a quick ratio of 2.69 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 8.81 and a beta of 1.27. Commercial Metals has a 12-month low of $39.85 and a 12-month high of $59.81.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.05). The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.80 billion. Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.44 earnings per share. Sell-side analysts expect that Commercial Metals will post 4.85 EPS for the current year.

Insider Buying and Selling

In related news, Chairman Barbara Smith sold 35,704 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total transaction of $2,066,547.52. Following the completion of the sale, the chairman now directly owns 36,196 shares of the company’s stock, valued at approximately $2,095,024.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.

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.