Wealthspire Advisors LLC Sells 1,673 Shares of Commercial Metals Company $CMC

Wealthspire Advisors LLC lowered its stake in Commercial Metals Company (NYSE:CMC) by 16.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,672 shares of the basic materials company’s stock after selling 1,673 shares during the quarter. Wealthspire Advisors LLC’s holdings in Commercial Metals were worth $424,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. National Bank of Canada FI grew its holdings in Commercial Metals by 80.3% in the first quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 244 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of 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 purchasing an additional 511 shares during the period. Signaturefd LLC boosted its position in shares of Commercial Metals by 51.4% during the 2nd quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 302 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Commercial Metals by 77.8% in the 2nd quarter. UMB Bank n.a. now owns 1,394 shares of the basic materials company’s stock valued at $68,000 after buying an additional 610 shares during the period. Finally, Harbour Investments Inc. grew its stake in shares of Commercial Metals by 17.5% in the 2nd quarter. Harbour Investments Inc. now owns 1,830 shares of the basic materials company’s stock valued at $90,000 after buying an additional 273 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Up 3.4%

NYSE CMC opened at $59.30 on Friday. The company has a fifty day moving average of $58.75 and a two-hundred day moving average of $54.29. The company has a quick ratio of 2.03, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of 78.03, a PEG ratio of 1.94 and a beta of 1.34. Commercial Metals Company has a 52 week low of $37.92 and a 52 week high of $64.53.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Thursday, October 16th. The basic materials company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.05. The firm had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.10 billion. Commercial Metals had a return on equity of 8.76% and a net margin of 1.09%.The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. On average, analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, October 30th were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, October 30th. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. Commercial Metals’s dividend payout ratio (DPR) is currently 94.74%.

Insiders Place Their Bets

In other Commercial Metals news, Director John R. Mcpherson purchased 1,722 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were purchased at an average cost of $58.09 per share, for a total transaction of $100,030.98. Following the completion of the transaction, the director owned 6,722 shares of the company’s stock, valued at $390,480.98. The trade was a 34.44% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

CMC has been the topic of a number of recent research reports. Jefferies Financial Group set a $70.00 price objective on shares of Commercial Metals and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Wall Street Zen cut shares of Commercial Metals from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Bank of America lifted their target price on shares of Commercial Metals from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. Citigroup raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and increased their price objective for the company from $60.00 to $65.00 in a research report on Friday, October 17th. Finally, Zacks Research upgraded Commercial Metals from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.20.

Commercial Metals Profile

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.