Raymond James Financial Services Advisors Inc. Has $337,000 Stake in Commercial Metals (NYSE:CMC)

Raymond James Financial Services Advisors Inc. reduced its stake in shares of Commercial Metals (NYSE:CMC) by 91.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,727 shares of the basic materials company’s stock after selling 73,052 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Commercial Metals were worth $337,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. HM Payson & Co. acquired a new position in Commercial Metals during the third quarter valued at approximately $25,000. Point72 Asset Management L.P. bought a new stake in shares of Commercial Metals in the 2nd quarter valued at $30,000. Quarry LP acquired a new stake in Commercial Metals during the 1st quarter worth $30,000. Sunbelt Securities Inc. bought a new position in Commercial Metals during the first quarter worth about $30,000. Finally, Geneos Wealth Management Inc. grew its stake in Commercial Metals by 920.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,020 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 920 shares during the period. 86.90% of the stock is owned by institutional investors.

Insider Activity at Commercial Metals

In other Commercial Metals news, Chairman Barbara Smith sold 35,704 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total transaction of $2,066,547.52. Following the transaction, the chairman now owns 36,196 shares of the company’s stock, valued at approximately $2,095,024.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Lindsay L. Sloan sold 600 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $51.52, for a total value of $30,912.00. Following the completion of the sale, the chief accounting officer now directly owns 12,338 shares in the company, valued at approximately $635,653.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Barbara Smith sold 35,704 shares of Commercial Metals stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $57.88, for a total value of $2,066,547.52. Following the transaction, the chairman now owns 36,196 shares of the company’s stock, valued at approximately $2,095,024.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 120,089 shares of company stock valued at $6,402,693. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CMC has been the topic of several recent analyst reports. StockNews.com cut Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday. UBS Group assumed coverage on shares of Commercial Metals in a report on Tuesday, January 16th. They issued a “buy” rating and a $65.00 price target for the company. Finally, BMO Capital Markets raised their price objective on shares of Commercial Metals from $52.00 to $60.00 and gave the stock a “market perform” rating in a report on Friday, March 22nd.

Commercial Metals Trading Down 0.1 %

NYSE CMC opened at $55.21 on Monday. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $59.81. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.69 and a current ratio of 4.19. The stock’s 50 day moving average price is $55.41 and its two-hundred day moving average price is $50.13. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 9.59 and a beta of 1.33.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.05). The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.80 billion. Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 EPS. As a group, analysts anticipate that Commercial Metals will post 5.34 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Monday, April 1st were issued a $0.18 dividend. This is a boost from Commercial Metals’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, March 28th. This represents a $0.72 annualized dividend and a dividend yield of 1.30%. Commercial Metals’s dividend payout ratio (DPR) is presently 12.50%.

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.