Swiss National Bank Sells 6,100 Shares of Commercial Metals Company (NYSE:CMC)

Swiss National Bank lowered its holdings in Commercial Metals Company (NYSE:CMC) by 2.7% in the first quarter, HoldingsChannel.com reports. The firm owned 220,100 shares of the basic materials company’s stock after selling 6,100 shares during the quarter. Swiss National Bank’s holdings in Commercial Metals were worth $10,127,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CMC. Park Square Financial Group LLC bought a new stake in Commercial Metals in the 4th quarter valued at about $33,000. Heck Capital Advisors LLC bought a new stake in Commercial Metals in the 4th quarter valued at about $34,000. UMB Bank n.a. boosted its holdings in Commercial Metals by 51.9% in the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 268 shares during the period. Wayfinding Financial LLC bought a new stake in Commercial Metals in the 1st quarter valued at about $47,000. Finally, South Plains Financial Inc. bought a new stake in Commercial Metals in the 4th quarter valued at about $73,000. Institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CMC. Morgan Stanley set a $57.50 price objective on shares of Commercial Metals in a report on Wednesday, June 25th. Wolfe Research upgraded shares of Commercial Metals from a “peer perform” rating to an “outperform” rating in a research report on Friday, June 20th. UBS Group restated a “neutral” rating and issued a $56.00 target price (up from $48.00) on shares of Commercial Metals in a research report on Wednesday. Wells Fargo & Company upgraded shares of Commercial Metals to a “strong-buy” rating in a research report on Thursday. Finally, Jefferies Financial Group restated a “buy” rating on shares of Commercial Metals in a research report on Friday, June 20th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Commercial Metals has a consensus rating of “Moderate Buy” and a consensus target price of $58.81.

Commercial Metals Price Performance

CMC stock opened at $56.40 on Friday. The company has a 50 day simple moving average of $51.66 and a 200 day simple moving average of $48.37. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 181.94, a P/E/G ratio of 2.64 and a beta of 1.28. Commercial Metals Company has a 1 year low of $37.92 and a 1 year high of $64.53. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.86 and a quick ratio of 2.00.

Commercial Metals (NYSE:CMC) last released its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.11). The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.04 billion. Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%. Commercial Metals’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.02 earnings per share. Research analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Monday, June 30th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, June 30th. Commercial Metals’s dividend payout ratio is currently 232.26%.

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.