Commercial Metals (NYSE:CMC) Shares Sold by Cerity Partners LLC

Cerity Partners LLC trimmed its stake in shares of Commercial Metals (NYSE:CMC) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,207 shares of the basic materials company’s stock after selling 783 shares during the quarter. Cerity Partners LLC’s holdings in Commercial Metals were worth $1,907,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CMC. JPMorgan Chase & Co. grew its position in shares of Commercial Metals by 6.5% during the third quarter. JPMorgan Chase & Co. now owns 1,081,153 shares of the basic materials company’s stock worth $59,420,000 after buying an additional 66,092 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Commercial Metals by 1.1% in the third quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company’s stock worth $94,208,000 after acquiring an additional 17,931 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Commercial Metals by 66.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 71,151 shares of the basic materials company’s stock worth $3,529,000 after acquiring an additional 28,297 shares in the last quarter. Covea Finance increased its position in shares of Commercial Metals by 44.2% in the 4th quarter. Covea Finance now owns 62,000 shares of the basic materials company’s stock valued at $3,075,000 after purchasing an additional 19,000 shares during the last quarter. Finally, Spring Capital Management LLC acquired a new stake in shares of Commercial Metals in the 4th quarter valued at $248,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

CMC has been the subject of a number of analyst reports. BMO Capital Markets lowered their target price on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research note on Friday, March 21st. Morgan Stanley lowered their price objective on Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. UBS Group cut their target price on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Jefferies Financial Group reduced their price target on shares of Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Commercial Metals currently has a consensus rating of “Hold” and an average price target of $60.33.

Insider Activity at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson purchased 2,475 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $40.42 per share, with a total value of $100,039.50. Following the purchase, the director now owns 15,141 shares in the company, valued at approximately $611,999.22. This represents a 19.54 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.46% of the company’s stock.

Commercial Metals Stock Up 0.2 %

CMC opened at $41.78 on Thursday. Commercial Metals has a 12 month low of $37.92 and a 12 month high of $64.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94. The business has a 50 day simple moving average of $46.55 and a 200-day simple moving average of $51.64. The stock has a market capitalization of $4.72 billion, a P/E ratio of 37.64, a P/E/G ratio of 2.62 and a beta of 1.16.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the firm earned $0.88 EPS. Commercial Metals’s revenue was down 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were given a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.72%. Commercial Metals’s dividend payout ratio is currently 120.00%.

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.