Duality Advisers LP Sells 3,025 Shares of Commercial Metals (NYSE:CMC)

Duality Advisers LP trimmed its holdings in shares of Commercial Metals (NYSE:CMC) by 32.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,192 shares of the basic materials company’s stock after selling 3,025 shares during the quarter. Duality Advisers LP’s holdings in Commercial Metals were worth $310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Janney Montgomery Scott LLC increased its position in shares of Commercial Metals by 1.1% during the third quarter. Janney Montgomery Scott LLC now owns 23,471 shares of the basic materials company’s stock worth $1,160,000 after acquiring an additional 247 shares in the last quarter. Inspire Investing LLC increased its position in shares of Commercial Metals by 4.4% during the third quarter. Inspire Investing LLC now owns 6,237 shares of the basic materials company’s stock worth $308,000 after acquiring an additional 261 shares in the last quarter. Diversified Trust Co increased its position in shares of Commercial Metals by 1.2% during the third quarter. Diversified Trust Co now owns 23,810 shares of the basic materials company’s stock worth $1,176,000 after acquiring an additional 292 shares in the last quarter. Oliver Luxxe Assets LLC increased its position in shares of Commercial Metals by 2.2% during the third quarter. Oliver Luxxe Assets LLC now owns 14,211 shares of the basic materials company’s stock worth $702,000 after acquiring an additional 304 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its position in shares of Commercial Metals by 7.4% during the fourth quarter. AlphaMark Advisors LLC now owns 5,087 shares of the basic materials company’s stock worth $255,000 after acquiring an additional 352 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CMC. BMO Capital Markets increased their price objective on shares of Commercial Metals from $52.00 to $60.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. StockNews.com cut shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Finally, UBS Group started coverage on shares of Commercial Metals in a report on Tuesday, January 16th. They set a “buy” rating and a $65.00 target price for the company.

Commercial Metals Stock Performance

Shares of CMC opened at $53.47 on Friday. Commercial Metals has a 12 month low of $39.85 and a 12 month high of $59.81. The firm has a fifty day simple moving average of $55.41 and a 200 day simple moving average of $50.32. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 9.28 and a beta of 1.33. The company has a current ratio of 4.19, a quick ratio of 2.69 and a debt-to-equity ratio of 0.27.

Commercial Metals (NYSE:CMC) last announced its 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). Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the company posted $1.44 EPS. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. Research analysts forecast that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st were paid a $0.18 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.72 dividend on an annualized basis and a yield of 1.35%. This is a boost from Commercial Metals’s previous quarterly dividend of $0.16. Commercial Metals’s dividend payout ratio (DPR) is currently 12.50%.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Chairman Barbara Smith sold 23,619 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $51.65, for a total value of $1,219,921.35. Following the completion of the sale, the chairman now owns 72,400 shares in the company, valued at $3,739,460. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 119,489 shares of company stock worth $6,371,781 over the last quarter. 1.00% of the stock is currently owned by insiders.

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.