Commercial Metals (NYSE:CMC) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP lowered its position in shares of Commercial Metals (NYSE:CMC - Free Report) by 9.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 591,492 shares of the basic materials company's stock after selling 65,155 shares during the period. Wasatch Advisors LP owned about 0.52% of Commercial Metals worth $29,338,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in Commercial Metals during the 4th quarter valued at $34,000. V Square Quantitative Management LLC lifted its stake in shares of Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after purchasing an additional 267 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock valued at $82,000 after purchasing an additional 297 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in Commercial Metals in the fourth quarter valued at about $105,000. Finally, Covestor Ltd raised its holdings in Commercial Metals by 19.0% in the fourth quarter. Covestor Ltd now owns 2,148 shares of the basic materials company's stock worth $107,000 after purchasing an additional 343 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Commercial Metals Stock Performance

Shares of NYSE:CMC traded up $0.62 during trading on Friday, hitting $42.32. The stock had a trading volume of 888,354 shares, compared to its average volume of 953,948. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. Commercial Metals has a 12-month low of $37.92 and a 12-month high of $64.53. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 38.13, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16. The stock has a 50-day simple moving average of $46.23 and a two-hundred day simple moving average of $51.46.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business's quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 earnings per share. On average, equities research analysts expect that Commercial Metals will post 3.09 earnings per share for the current fiscal 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 dividend on an annualized basis and a yield of 1.70%. Commercial Metals's dividend payout ratio is presently 120.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CMC. BNP Paribas downgraded shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a research report on Friday, January 3rd. Morgan Stanley reduced their price target on 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. Jefferies Financial Group lowered their price objective on 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 reduced their target price 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. Finally, BMO Capital Markets dropped their price target on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $60.33.

Insider Buying and Selling at Commercial Metals

In related news, Director John R. Mcpherson purchased 2,475 shares of Commercial Metals stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the transaction, the director now owns 15,141 shares in the company, valued at $611,999.22. The trade was a 19.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 0.46% of the stock is owned by corporate insiders.

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.