Intech Investment Management LLC Sells 15,941 Shares of Commercial Metals Company $CMC

Intech Investment Management LLC decreased its holdings in shares of Commercial Metals Company (NYSE:CMC) by 24.8% during the third quarter, HoldingsChannel reports. The firm owned 48,362 shares of the basic materials company’s stock after selling 15,941 shares during the period. Intech Investment Management LLC’s holdings in Commercial Metals were worth $2,770,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CMC. Blue Trust Inc. boosted its stake 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 valued at $451,000 after purchasing an additional 180 shares in the last quarter. Spire Wealth Management lifted its holdings in Commercial Metals by 42.4% during the third quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock worth $35,000 after buying an additional 183 shares during the period. 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 valued at $272,000 after acquiring an additional 184 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of 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 acquiring an additional 202 shares during the period. Finally, Flagship Harbor Advisors LLC raised its position in shares of Commercial Metals by 4.7% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 4,775 shares of the basic materials company’s stock worth $274,000 after acquiring an additional 213 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Performance

CMC opened at $73.60 on Tuesday. The company has a market cap of $8.16 billion, a P/E ratio of 18.97, a price-to-earnings-growth ratio of 0.39 and a beta of 1.47. The company has a quick ratio of 3.70, a current ratio of 4.47 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average price is $75.79 and its 200-day moving average price is $65.81. Commercial Metals Company has a 52-week low of $37.92 and a 52-week high of $84.87.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, January 8th. The basic materials company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.29. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.06 billion. Commercial Metals had a net margin of 5.46% and a return on equity of 11.43%. Commercial Metals’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 EPS. As a group, equities analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 19th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, January 16th. Commercial Metals’s dividend payout ratio is presently 18.56%.

Insiders Place Their Bets

In other news, Director Dennis V. Arriola purchased 2,000 shares of the stock in a transaction on Tuesday, January 20th. The stock was bought at an average price of $74.69 per share, with a total value of $149,380.00. Following the transaction, the director owned 9,238 shares in the company, valued at $689,986.22. The trade was a 27.63% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer J. Durbin sold 25,050 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $79.97, for a total value of $2,003,248.50. Following the sale, the insider owned 52,880 shares in the company, valued at approximately $4,228,813.60. The trade was a 32.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

CMC has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on Commercial Metals from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday. Jefferies Financial Group set a $85.00 price target on shares of Commercial Metals and gave the company a “buy” rating in a report on Thursday, January 8th. Morgan Stanley lifted their price objective on shares of Commercial Metals from $68.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. Citigroup increased their target price on shares of Commercial Metals from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Commercial Metals in a research note on Wednesday, January 21st. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $72.80.

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.