Commercial Metals (NYSE:CMC) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC trimmed its holdings in Commercial Metals (NYSE:CMC) by 20.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,700 shares of the basic materials company’s stock after selling 1,209 shares during the period. Avior Wealth Management LLC’s holdings in Commercial Metals were worth $235,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Commercial Metals by 1.7% in the 1st quarter. BlackRock Inc. now owns 16,103,415 shares of the basic materials company’s stock worth $787,457,000 after buying an additional 272,913 shares during the last quarter. Vanguard Group Inc. boosted its stake in Commercial Metals by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 13,226,374 shares of the basic materials company’s stock worth $550,481,000 after buying an additional 142,062 shares during the last quarter. State Street Corp boosted its stake in Commercial Metals by 22.3% in the 1st quarter. State Street Corp now owns 7,494,116 shares of the basic materials company’s stock worth $312,971,000 after buying an additional 1,367,997 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Commercial Metals by 26.7% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,506,247 shares of the basic materials company’s stock valued at $123,834,000 after purchasing an additional 527,709 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Commercial Metals in the 4th quarter valued at about $114,477,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

Commercial Metals stock opened at $55.21 on Friday. The stock’s 50 day moving average price is $55.41 and its 200 day moving average price is $50.10. The firm has a market capitalization of $6.39 billion, a PE ratio of 9.59 and a beta of 1.33. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.69 and a current ratio of 4.19. Commercial Metals has a one year low of $39.85 and a one year high of $59.81.

Commercial Metals (NYSE:CMC) last released its quarterly earnings results on Thursday, March 21st. The basic materials company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.05). The company 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 business’s revenue was down 8.4% on a year-over-year basis. During the same period last year, the firm posted $1.44 earnings per share. As a group, sell-side analysts expect that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, April 1st were given a dividend of $0.18 per share. The ex-dividend date was Thursday, March 28th. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.30%. Commercial Metals’s payout ratio is 12.50%.

Insider Buying and Selling

In related news, Chairman Barbara Smith sold 35,704 shares of the business’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 36,196 shares of the company’s stock, valued at approximately $2,095,024.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Commercial Metals news, CAO Lindsay L. Sloan sold 600 shares of Commercial Metals stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $51.52, for a total transaction of $30,912.00. Following the sale, the chief accounting officer now directly owns 12,338 shares in the company, valued at approximately $635,653.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Barbara Smith sold 35,704 shares of Commercial Metals stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total value of $2,066,547.52. Following the sale, the chairman now owns 36,196 shares in the company, valued at $2,095,024.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,089 shares of company stock valued at $6,402,693. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CMC shares. StockNews.com lowered Commercial Metals from a “buy” rating to a “hold” rating in a research note on Thursday. UBS Group started coverage on Commercial Metals in a research note on Tuesday, January 16th. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, BMO Capital Markets lifted their price objective on Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd.

Commercial Metals Company 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.