Vanguard Group Inc. Sells 229,099 Shares of Commercial Metals (NYSE:CMC)

Vanguard Group Inc. decreased its position in shares of Commercial Metals (NYSE:CMC - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,248,493 shares of the basic materials company's stock after selling 229,099 shares during the period. Vanguard Group Inc. owned about 10.78% of Commercial Metals worth $607,525,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. Citigroup Inc. increased its stake in shares of Commercial Metals by 99.0% in the third quarter. Citigroup Inc. now owns 123,506 shares of the basic materials company's stock valued at $6,788,000 after buying an additional 61,447 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Commercial Metals by 37.8% during the third quarter. Cerity Partners LLC now owns 38,990 shares of the basic materials company's stock valued at $2,143,000 after purchasing an additional 10,693 shares during the last quarter. Quantbot Technologies LP bought a new position in Commercial Metals in the 3rd quarter worth approximately $342,000. BNP Paribas Financial Markets boosted its position in Commercial Metals by 18.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,772 shares of the basic materials company's stock valued at $1,636,000 after buying an additional 4,699 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in Commercial Metals by 3.8% in the third quarter. Glenmede Trust Co. NA now owns 30,689 shares of the basic materials company's stock valued at $1,687,000 after acquiring an additional 1,122 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Remove Ads

Commercial Metals Stock Down 10.7 %

Shares of NYSE:CMC traded down $5.02 during trading on Thursday, hitting $42.02. 998,469 shares of the company's stock traded hands, compared to its average volume of 1,229,809. 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 moving average price of $48.42 and a 200-day moving average price of $52.61. Commercial Metals has a 52 week low of $41.56 and a 52 week high of $64.53. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 37.86, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17.

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

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st will be 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 is Monday, March 31st. Commercial Metals's dividend payout ratio is 120.00%.

Wall Street Analyst Weigh In

CMC has been the subject of several analyst reports. BMO Capital Markets lowered their price target on shares of 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. UBS Group reduced their price target on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Morgan Stanley lowered their price target 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. BNP Paribas lowered shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research note on Friday, January 3rd. Finally, Jefferies Financial Group decreased their price objective on shares of Commercial Metals from $65.00 to $62.00 and set a "buy" rating for the company in a report on Monday, January 6th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $60.33.

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.