Commercial Metals (NYSE:CMC) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its holdings in Commercial Metals (NYSE:CMC - Free Report) by 12.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 154,106 shares of the basic materials company's stock after selling 22,191 shares during the quarter. Wedge Capital Management L L P NC owned about 0.14% of Commercial Metals worth $7,644,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. JPMorgan Chase & Co. raised its position in Commercial Metals by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 1,081,153 shares of the basic materials company's stock worth $59,420,000 after acquiring an additional 66,092 shares during the period. Principal Financial Group Inc. lifted its holdings in Commercial Metals by 1.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,714,116 shares of the basic materials company's stock worth $94,208,000 after purchasing an additional 17,931 shares in the last quarter. Vestcor Inc boosted its stake in Commercial Metals by 108.0% in the 3rd quarter. Vestcor Inc now owns 18,103 shares of the basic materials company's stock worth $995,000 after purchasing an additional 9,400 shares during the period. Seizert Capital Partners LLC grew its holdings in Commercial Metals by 32.5% during the 3rd quarter. Seizert Capital Partners LLC now owns 75,873 shares of the basic materials company's stock valued at $4,170,000 after buying an additional 18,600 shares in the last quarter. Finally, Covea Finance raised its position in shares of Commercial Metals by 44.2% during the fourth quarter. Covea Finance now owns 62,000 shares of the basic materials company's stock valued at $3,075,000 after buying an additional 19,000 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CMC shares. Jefferies Financial Group dropped their target price 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. UBS Group upgraded Commercial Metals from a "sell" rating to a "neutral" rating and cut their price objective for the company from $56.00 to $54.00 in a research report on Friday, January 10th. Wolfe Research downgraded Commercial Metals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, October 9th. The Goldman Sachs Group initiated coverage on Commercial Metals in a report on Monday, December 2nd. They set a "buy" rating and a $75.00 price target for the company. Finally, BMO Capital Markets reduced their target price on shares of Commercial Metals from $62.00 to $58.00 and set a "market perform" rating on the stock in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $63.83.

Commercial Metals Stock Down 0.5 %

CMC stock traded down $0.25 during trading on Friday, reaching $50.63. 739,215 shares of the company traded hands, compared to its average volume of 1,058,324. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 45.61, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. Commercial Metals has a 12 month low of $45.50 and a 12 month high of $64.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.78 and a current ratio of 2.76. The business has a 50 day simple moving average of $55.57 and a 200 day simple moving average of $54.71.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm posted $1.49 earnings per share. The business's quarterly revenue was down 4.7% on a year-over-year basis. On average, equities research analysts anticipate that Commercial Metals will post 3.47 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 30th. Investors of record on Thursday, January 16th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Thursday, January 16th. Commercial Metals's dividend payout ratio (DPR) is presently 64.86%.

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.