Commercial Metals (NYSE:CMC) Shares Sold by Invesco Ltd.

Invesco Ltd. lowered its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 10.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,143,708 shares of the basic materials company's stock after selling 130,468 shares during the quarter. Invesco Ltd. owned about 1.01% of Commercial Metals worth $56,728,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Boston Partners lifted its holdings in shares of Commercial Metals by 6.4% during the fourth quarter. Boston Partners now owns 4,055,150 shares of the basic materials company's stock worth $201,178,000 after purchasing an additional 243,921 shares during the period. Geode Capital Management LLC increased its stake in shares of Commercial Metals by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,839,601 shares of the basic materials company's stock worth $156,093,000 after acquiring an additional 28,019 shares during the period. Victory Capital Management Inc. raised its holdings in Commercial Metals by 11.3% during the fourth quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company's stock worth $120,152,000 after purchasing an additional 245,468 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Commercial Metals by 87.0% in the 4th quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company's stock valued at $95,204,000 after purchasing an additional 893,094 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Commercial Metals by 1.1% during 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 during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Price Performance

Commercial Metals stock traded up $0.62 during midday trading on Friday, reaching $42.32. 888,354 shares of the company were exchanged, compared to its average volume of 952,532. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 38.13, a P/E/G ratio of 2.62 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The firm's 50-day simple moving average is $46.23 and its 200-day simple moving average is $51.47. Commercial Metals has a 1 year low of $37.92 and a 1 year high of $64.53.

Commercial Metals (NYSE:CMC - Get Free Report) last announced 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 analysts' expectations of $1.73 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 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. On average, analysts anticipate that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were issued a $0.18 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.70%. Commercial Metals's payout ratio is 120.00%.

Insider Activity

In other Commercial Metals news, Director John R. Mcpherson purchased 2,475 shares of the business's stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the acquisition, the director now owns 15,141 shares of the company's stock, valued at approximately $611,999.22. This represents a 19.54 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

CMC has been the topic of several research analyst reports. Morgan Stanley decreased their target price on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Friday, March 7th. UBS Group reduced their price target on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Jefferies Financial Group dropped their price objective 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. BNP Paribas lowered Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. Finally, BMO Capital Markets cut their price target on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a research note on Friday, March 21st. Six equities 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 $60.33.

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.