Commercial Metals (NYSE:CMC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 236,984 shares of the basic materials company's stock after selling 13,458 shares during the period. Allspring Global Investments Holdings LLC owned 0.21% of Commercial Metals worth $11,648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of CMC. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Commercial Metals by 10.0% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company's stock worth $138,000 after purchasing an additional 254 shares during the last quarter. Tectonic Advisors LLC raised its holdings in Commercial Metals by 1.6% in the third quarter. Tectonic Advisors LLC now owns 17,774 shares of the basic materials company's stock worth $977,000 after purchasing an additional 272 shares in the last quarter. Assetmark Inc. lifted its position in shares of Commercial Metals by 6.4% during the third quarter. Assetmark Inc. now owns 4,602 shares of the basic materials company's stock valued at $253,000 after buying an additional 277 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of Commercial Metals by 4.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 7,160 shares of the basic materials company's stock valued at $394,000 after buying an additional 287 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its position in shares of Commercial Metals by 6.0% in the 4th quarter. Flagship Harbor Advisors LLC now owns 5,796 shares of the basic materials company's stock worth $288,000 after buying an additional 329 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CMC. BNP Paribas cut shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research report on Friday, January 3rd. Morgan Stanley decreased their price objective on Commercial Metals from $65.00 to $56.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. UBS Group upgraded Commercial Metals from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $56.00 to $54.00 in a research note on Friday, January 10th. BMO Capital Markets decreased their price target on Commercial Metals from $62.00 to $58.00 and set a "market perform" rating for the company in a research note on Friday, January 3rd. Finally, Jefferies Financial Group lowered their price target on Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $62.33.

Commercial Metals Stock Performance

Shares of NYSE:CMC traded down $1.06 during trading on Friday, hitting $49.78. The stock had a trading volume of 928,696 shares, compared to its average volume of 1,119,765. The stock has a 50-day simple moving average of $50.18 and a two-hundred day simple moving average of $53.66. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 44.84, a price-to-earnings-growth ratio of 2.66 and a beta of 1.18. Commercial Metals has a 12-month low of $45.50 and a 12-month high of $64.53. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. The business had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.85 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The business's quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.49 EPS. On average, equities research analysts expect that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.45%. The ex-dividend date was Thursday, January 16th. Commercial Metals's dividend payout ratio is currently 64.86%.

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.