Commercial Metals Company $CMC Shares Sold by Vest Financial LLC

Vest Financial LLC reduced its holdings in shares of Commercial Metals Company (NYSE:CMC) by 41.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,552 shares of the basic materials company’s stock after selling 15,534 shares during the quarter. Vest Financial LLC’s holdings in Commercial Metals were worth $1,234,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Drummond Knight Asset Management Pty Ltd purchased a new stake in Commercial Metals in the third quarter valued at approximately $15,579,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Commercial Metals by 11.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 225,817 shares of the basic materials company’s stock valued at $13,312,000 after acquiring an additional 22,587 shares during the period. Hodges Capital Management Inc. increased its holdings in shares of Commercial Metals by 3.4% in the 2nd quarter. Hodges Capital Management Inc. now owns 251,468 shares of the basic materials company’s stock valued at $12,299,000 after acquiring an additional 8,267 shares during the period. Rhumbline Advisers raised its position in Commercial Metals by 1.3% in the 2nd quarter. Rhumbline Advisers now owns 393,334 shares of the basic materials company’s stock valued at $19,238,000 after purchasing an additional 5,147 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Commercial Metals by 28.9% during the 2nd quarter. Nordea Investment Management AB now owns 318,575 shares of the basic materials company’s stock worth $15,830,000 after purchasing an additional 71,350 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of CMC opened at $77.57 on Friday. The company has a current ratio of 4.47, a quick ratio of 3.70 and a debt-to-equity ratio of 0.77. The stock’s 50 day moving average is $68.97 and its two-hundred day moving average is $61.03. Commercial Metals Company has a twelve month low of $37.92 and a twelve month high of $79.61. The firm has a market capitalization of $8.60 billion, a PE ratio of 19.99, a P/E/G ratio of 0.41 and a beta of 1.49.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, January 8th. The basic materials company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.55 by $0.29. Commercial Metals had a return on equity of 11.43% and a net margin of 5.46%.The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same period last year, the firm earned $0.78 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts anticipate that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 19th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, January 16th. Commercial Metals’s payout ratio is presently 18.56%.

Insider Activity at Commercial Metals

In related news, Director Dennis V. Arriola purchased 2,000 shares of the stock in a transaction dated Tuesday, January 20th. The shares were acquired at an average cost of $74.69 per share, with a total value of $149,380.00. Following the purchase, the director directly owned 9,238 shares in the company, valued at $689,986.22. This trade represents a 27.63% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on CMC shares. UBS Group restated a “neutral” rating on shares of Commercial Metals in a research note on Monday, October 27th. Wall Street Zen raised Commercial Metals from a “buy” rating to a “strong-buy” rating in a report on Friday, November 28th. JPMorgan Chase & Co. upgraded Commercial Metals from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $64.00 to $78.00 in a research report on Friday, December 5th. Wells Fargo & Company increased their price objective on Commercial Metals from $68.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, December 15th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $84.00 target price on shares of Commercial Metals in a research note on Tuesday, December 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.70.

Commercial Metals Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.