Vestcor Inc Sells 8,703 Shares of Commercial Metals (NYSE:CMC)

Vestcor Inc reduced its holdings in Commercial Metals (NYSE:CMC) by 48.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,400 shares of the basic materials company’s stock after selling 8,703 shares during the period. Vestcor Inc’s holdings in Commercial Metals were worth $466,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CMC. Assetmark Inc. increased its position in Commercial Metals by 6.4% in the 3rd quarter. Assetmark Inc. now owns 4,602 shares of the basic materials company’s stock worth $253,000 after buying an additional 277 shares during the period. Atria Investments Inc bought a new position in Commercial Metals in the 3rd quarter worth approximately $290,000. KBC Group NV increased its position in Commercial Metals by 15.9% in the 3rd quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock worth $170,000 after buying an additional 425 shares during the period. Seizert Capital Partners LLC increased its position in Commercial Metals by 32.5% in the 3rd quarter. Seizert Capital Partners LLC now owns 75,873 shares of the basic materials company’s stock worth $4,170,000 after buying an additional 18,600 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Commercial Metals in the 3rd quarter worth approximately $1,008,000. 86.90% of the stock is owned by institutional investors.

Commercial Metals Stock Performance

Shares of NYSE:CMC opened at $46.33 on Monday. The business’s fifty day moving average price is $49.03 and its two-hundred day moving average price is $52.95. Commercial Metals has a fifty-two week low of $42.62 and a fifty-two week high of $64.53. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 41.73, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Monday, January 6th. The basic materials company reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.49 earnings per share. As a group, analysts predict that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Shareholders of record on Thursday, January 16th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, January 16th. Commercial Metals’s dividend payout ratio is currently 64.86%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. BMO Capital Markets lowered their price objective on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research report on Friday, January 3rd. The Goldman Sachs Group assumed coverage on Commercial Metals in a research report on Monday, December 2nd. They set a “buy” rating and a $75.00 price objective on the stock. Jefferies Financial Group lowered their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $56.00 to $54.00 in a research report on Friday, January 10th. Finally, BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.83.

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.