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

Geode Capital Management LLC reduced its position in shares of Commercial Metals (NYSE:CMC) by 1.6% during the 4th quarter, HoldingsChannel reports. The fund owned 2,795,139 shares of the basic materials company’s stock after selling 44,462 shares during the period. Geode Capital Management LLC’s holdings in Commercial Metals were worth $138,668,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Heck Capital Advisors LLC acquired a new stake in Commercial Metals in the fourth quarter valued at approximately $34,000. V Square Quantitative Management LLC grew its stake 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. Jones Financial Companies Lllp increased its holdings in Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 297 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in Commercial Metals during the fourth quarter worth $105,000. Finally, Amundi lifted its holdings in Commercial Metals by 29.9% during the fourth quarter. Amundi now owns 2,189 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 504 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Commercial Metals

In related news, Director John R. Mcpherson acquired 2,475 shares of Commercial Metals stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the acquisition, the director now owns 15,141 shares in the company, valued at approximately $611,999.22. This represents a 19.54 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by insiders.

Analyst Ratings Changes

CMC has been the subject of a number of research reports. Jefferies Financial Group cut their target price on shares of 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 reduced their target price on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a report on Friday, March 21st. UBS Group lowered their price target on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Morgan Stanley reduced their price objective 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. Finally, BNP Paribas cut shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Six 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, Commercial Metals currently has an average rating of “Hold” and a consensus target price of $60.33.

Commercial Metals Stock Down 1.0 %

Shares of CMC opened at $40.53 on Tuesday. Commercial Metals has a 52-week low of $37.92 and a 52-week high of $64.53. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $47.89 and a two-hundred day simple moving average of $52.38. The company has a market capitalization of $4.58 billion, a PE ratio of 36.51, a price-to-earnings-growth ratio of 2.62 and a beta of 1.16.

Commercial Metals (NYSE:CMC) 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 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 firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the prior year, the company posted $0.88 EPS. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. As a group, equities analysts forecast that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Monday, March 31st. Commercial Metals’s payout ratio is presently 120.00%.

Commercial Metals 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.