Commercial Metals (NYSE:CMC) Shares Sold by Tidal Investments LLC

Tidal Investments LLC cut its position in Commercial Metals (NYSE:CMC - Free Report) by 45.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,905 shares of the basic materials company's stock after selling 24,539 shares during the quarter. Tidal Investments LLC's holdings in Commercial Metals were worth $1,589,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CMC. nVerses Capital LLC purchased a new stake in shares of Commercial Metals during the third quarter worth $66,000. Archer Investment Corp acquired a new stake in Commercial Metals during the 2nd quarter worth $77,000. KBC Group NV boosted its position in shares of Commercial Metals by 15.9% in the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company's stock valued at $170,000 after purchasing an additional 425 shares during the period. Innealta Capital LLC acquired a new position in Commercial Metals during the second quarter worth approximately $195,000. Finally, Highland Capital Management LLC acquired a new stake in shares of Commercial Metals in the third quarter valued at approximately $206,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Stock Down 5.4 %

CMC stock traded down $2.92 during mid-day trading on Wednesday, hitting $51.24. 1,586,362 shares of the company were exchanged, compared to its average volume of 861,883. The company has a current ratio of 3.94, a quick ratio of 2.78 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $5.84 billion, a PE ratio of 12.38, a price-to-earnings-growth ratio of 2.74 and a beta of 1.15. Commercial Metals has a twelve month low of $47.42 and a twelve month high of $64.53. The firm has a fifty day simple moving average of $57.97 and a 200 day simple moving average of $55.19.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.01). Commercial Metals had a net margin of 6.13% and a return on equity of 12.20%. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.07 billion. On average, research analysts forecast that Commercial Metals will post 4.26 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, October 31st. Commercial Metals's payout ratio is 17.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wolfe Research lowered Commercial Metals from an "outperform" rating to a "peer perform" rating in a report on Wednesday, October 9th. BMO Capital Markets set a $62.00 price target on Commercial Metals and gave the stock a "market perform" rating in a research note on Friday, October 18th. The Goldman Sachs Group assumed coverage on shares of Commercial Metals in a research note on Monday, December 2nd. They issued a "buy" rating and a $75.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They set a "buy" rating and a $65.00 target price for the company. Finally, UBS Group reiterated a "sell" rating and issued a $56.00 price target (down from $62.00) on shares of Commercial Metals in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $65.40.

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.