Commercial Metals (NYSE:CMC) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its position in Commercial Metals (NYSE:CMC - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,795,139 shares of the basic materials company's stock after selling 44,462 shares during the quarter. Geode Capital Management LLC owned approximately 2.46% of Commercial Metals worth $138,668,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC boosted its stake in Commercial Metals by 5.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,528 shares of the basic materials company's stock worth $225,000 after purchasing an additional 229 shares during the period. Truist Financial Corp raised its holdings in shares of Commercial Metals by 3.5% in the fourth quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company's stock valued at $355,000 after buying an additional 242 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Commercial Metals by 10.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company's stock worth $138,000 after buying an additional 254 shares during the period. Arizona State Retirement System grew its holdings in shares of Commercial Metals by 0.8% during the fourth quarter. Arizona State Retirement System now owns 33,373 shares of the basic materials company's stock worth $1,655,000 after buying an additional 262 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its position in Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 267 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John R. Mcpherson acquired 2,475 shares of the company's stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $40.42 per share, with a total value of $100,039.50. Following the purchase, the director now directly owns 15,141 shares in the company, valued at $611,999.22. The trade was a 19.54 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Commercial Metals Trading Up 0.2 %

Shares of Commercial Metals stock traded up $0.08 during mid-day trading on Friday, hitting $41.93. 1,677,515 shares of the stock were exchanged, compared to its average volume of 949,073. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. Commercial Metals has a twelve month low of $37.92 and a twelve month high of $64.53. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $47.01 and a 200 day simple moving average of $51.89.

Commercial Metals (NYSE:CMC - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. The firm's revenue was down 5.1% on a year-over-year basis. Research analysts forecast that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 1.72%. Commercial Metals's dividend payout ratio (DPR) is presently 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.