Commercial Metals (NYSE:CMC) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in shares of Commercial Metals (NYSE:CMC - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 208,040 shares of the basic materials company's stock after selling 9,708 shares during the period. Russell Investments Group Ltd. owned approximately 0.18% of Commercial Metals worth $10,319,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CMC. Norges Bank acquired a new position in Commercial Metals in the fourth quarter valued at approximately $69,261,000. Franklin Resources Inc. grew its position in Commercial Metals by 87.0% during the fourth quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company's stock valued at $95,204,000 after buying an additional 893,094 shares during the period. JPMorgan Chase & Co. raised its position in shares of Commercial Metals by 45.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,576,316 shares of the basic materials company's stock worth $78,185,000 after acquiring an additional 495,163 shares during the period. Victory Capital Management Inc. grew its position in shares of Commercial Metals by 11.3% during the 4th quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company's stock valued at $120,152,000 after acquiring an additional 245,468 shares during the period. Finally, Boston Partners increased its stake in shares of Commercial Metals by 6.4% in the 4th quarter. Boston Partners now owns 4,055,150 shares of the basic materials company's stock valued at $201,178,000 after purchasing an additional 243,921 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Commercial Metals

In related news, Director John R. Mcpherson acquired 2,475 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $40.42 per share, with a total value of $100,039.50. Following the transaction, the director now owns 15,141 shares of the company's stock, valued at approximately $611,999.22. This trade represents a 19.54 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.46% of the company's stock.

Commercial Metals Trading Up 0.8 %

NYSE:CMC traded up $0.35 during trading hours on Thursday, hitting $42.05. The company had a trading volume of 151,227 shares, compared to its average volume of 949,027. Commercial Metals has a 1 year low of $37.92 and a 1 year high of $64.53. The company has a market cap of $4.75 billion, a P/E ratio of 37.97, a P/E/G ratio of 2.62 and a beta of 1.16. The company has a 50-day moving average of $46.55 and a 200 day moving average of $51.64. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals's revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 earnings per share. Sell-side analysts expect that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals's dividend payout ratio (DPR) is presently 120.00%.

Analyst Upgrades and Downgrades

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

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.