Commercial Metals Company $CMC Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC decreased its position in Commercial Metals Company (NYSE:CMC) by 34.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,918 shares of the basic materials company’s stock after selling 26,238 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Commercial Metals were worth $2,441,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Avantax Advisory Services Inc. raised its holdings in shares of Commercial Metals by 8.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,566 shares of the basic materials company’s stock valued at $302,000 after buying an additional 503 shares during the period. Cetera Investment Advisers grew its position in Commercial Metals by 5.5% in the 1st quarter. Cetera Investment Advisers now owns 6,929 shares of the basic materials company’s stock valued at $319,000 after acquiring an additional 362 shares in the last quarter. Jefferies Financial Group Inc. purchased a new stake in Commercial Metals during the first quarter worth about $237,000. LSV Asset Management lifted its position in shares of Commercial Metals by 1.0% during the first quarter. LSV Asset Management now owns 255,100 shares of the basic materials company’s stock worth $11,737,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Commercial Metals in the first quarter valued at approximately $147,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Trading Down 1.3%

NYSE:CMC opened at $63.03 on Monday. Commercial Metals Company has a 1 year low of $37.92 and a 1 year high of $64.53. The stock has a market cap of $7.00 billion, a P/E ratio of 82.93, a P/E/G ratio of 1.94 and a beta of 1.34. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.03 and a current ratio of 2.78. The stock has a 50-day simple moving average of $59.16 and a 200-day simple moving average of $54.96.

Commercial Metals (NYSE:CMC) last posted its earnings results on Thursday, October 16th. The basic materials company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.05. The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Commercial Metals had a return on equity of 8.76% and a net margin of 1.09%.The firm’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. As a group, analysts anticipate that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Thursday, October 30th. Commercial Metals’s payout ratio is currently 94.74%.

Insider Activity

In related news, Director John R. Mcpherson bought 1,722 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were purchased at an average cost of $58.09 per share, with a total value of $100,030.98. Following the transaction, the director directly owned 6,722 shares of the company’s stock, valued at approximately $390,480.98. This represents a 34.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Bank of America upped their target price on shares of Commercial Metals from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. UBS Group reaffirmed a “neutral” rating on shares of Commercial Metals in a research report on Monday, October 27th. Citigroup upgraded Commercial Metals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $60.00 to $65.00 in a report on Friday, October 17th. The Goldman Sachs Group upped their price target on Commercial Metals from $69.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commercial Metals in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $64.20.

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.