Wasatch Advisors LP Sells 64,591 Shares of Commercial Metals (NYSE:CMC)

Wasatch Advisors LP lessened its stake in shares of Commercial Metals (NYSE:CMC - Free Report) by 9.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 656,647 shares of the basic materials company's stock after selling 64,591 shares during the period. Wasatch Advisors LP owned about 0.58% of Commercial Metals worth $36,089,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CMC. First Dallas Securities Inc. lifted its stake in Commercial Metals by 0.8% in the 2nd quarter. First Dallas Securities Inc. now owns 22,234 shares of the basic materials company's stock valued at $1,222,000 after purchasing an additional 185 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Commercial Metals by 0.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 26,778 shares of the basic materials company's stock valued at $1,473,000 after purchasing an additional 187 shares in the last quarter. Tectonic Advisors LLC lifted its holdings in shares of Commercial Metals by 1.6% in the 3rd quarter. Tectonic Advisors LLC now owns 17,774 shares of the basic materials company's stock worth $977,000 after purchasing an additional 272 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in Commercial Metals by 2.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 13,615 shares of the basic materials company's stock worth $749,000 after purchasing an additional 276 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in Commercial Metals by 6.4% during the 3rd quarter. Assetmark Inc. now owns 4,602 shares of the basic materials company's stock worth $253,000 after acquiring an additional 277 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Stock Performance

Shares of CMC traded up $0.32 during mid-day trading on Friday, hitting $61.69. 369,901 shares of the company traded hands, compared to its average volume of 816,823. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 2.74 and a beta of 1.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94. The stock has a 50-day moving average price of $56.45 and a two-hundred day moving average price of $54.89. Commercial Metals has a 1 year low of $44.78 and a 1 year high of $63.40.

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

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Thursday, October 31st. Commercial Metals's payout ratio is presently 17.39%.

Analyst Ratings Changes

Several equities analysts recently commented on CMC shares. Jefferies Financial Group initiated coverage on Commercial Metals in a research note on Tuesday, September 3rd. They issued a "buy" rating and a $65.00 price objective on the stock. BMO Capital Markets set a $62.00 price objective on shares of Commercial Metals and gave the stock a "market perform" rating in a research report on Friday, October 18th. Finally, Wolfe Research downgraded Commercial Metals from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $65.25.

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.