Commercial Metals Company $CMC Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its stake in shares of Commercial Metals Company (NYSE:CMC) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,395,225 shares of the basic materials company’s stock after selling 229,557 shares during the quarter. Vanguard Group Inc. owned 10.27% of Commercial Metals worth $652,718,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Root Financial Partners LLC purchased a new position in shares of Commercial Metals during the 3rd quarter valued at approximately $25,000. SBI Securities Co. Ltd. grew its position in Commercial Metals by 282.3% during the second quarter. SBI Securities Co. Ltd. now owns 692 shares of the basic materials company’s stock valued at $34,000 after buying an additional 511 shares during the period. Spire Wealth Management grew its position in Commercial Metals by 42.4% during the third 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 period. EverSource Wealth Advisors LLC boosted its stake in shares of Commercial Metals by 84.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,550 shares of the basic materials company’s stock worth $76,000 after acquiring an additional 708 shares in the last quarter. Finally, Amundi grew its position in shares of Commercial Metals by 13.3% during the 1st quarter. Amundi now owns 2,480 shares of the basic materials company’s stock valued at $114,000 after acquiring an additional 291 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Down 1.6%

Shares of CMC opened at $75.57 on Tuesday. The stock has a 50 day moving average price of $75.39 and a 200 day moving average price of $65.16. Commercial Metals Company has a one year low of $37.92 and a one year high of $84.87. The company has a debt-to-equity ratio of 0.77, a quick ratio of 3.70 and a current ratio of 4.47. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 0.41 and a beta of 1.49.

Commercial Metals (NYSE:CMC) last announced its earnings results on Thursday, January 8th. The basic materials company reported $1.84 earnings per share (EPS) 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 analysts’ expectations of $2.06 billion. Commercial Metals had a net margin of 5.46% and a return on equity of 11.43%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 EPS. Equities research analysts forecast that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

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

Insider Buying and Selling

In related news, Director Dennis V. Arriola purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was purchased at an average price of $74.69 per share, with a total value of $149,380.00. Following the completion of the acquisition, the director owned 9,238 shares in the company, valued at $689,986.22. This trade represents a 27.63% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer J. Durbin sold 25,050 shares of Commercial Metals stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $79.97, for a total value of $2,003,248.50. Following the transaction, 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. 0.62% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Jefferies Financial Group set a $85.00 price target on Commercial Metals and gave the stock a “buy” rating in a report on Thursday, January 8th. Wall Street Zen upgraded Commercial Metals from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 28th. Morgan Stanley increased their target price on Commercial Metals from $68.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. Wells Fargo & Company lifted their price target on shares of Commercial Metals from $68.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. Finally, JPMorgan Chase & Co. raised shares of Commercial Metals from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $64.00 to $78.00 in a report on Friday, December 5th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Commercial Metals currently has an average rating of “Moderate Buy” and an average target price of $72.70.

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.