Wells Trecaso Financial Group LLC Sells 645 Shares of Commercial Metals Company (NYSE:CMC)

Wells Trecaso Financial Group LLC cut its holdings in shares of Commercial Metals Company (NYSE:CMC) by 0.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,795 shares of the basic materials company’s stock after selling 645 shares during the quarter. Commercial Metals comprises 1.7% of Wells Trecaso Financial Group LLC’s investment portfolio, making the stock its 22nd largest holding. Wells Trecaso Financial Group LLC’s holdings in Commercial Metals were worth $5,190,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bank of Montreal Can increased its stake in Commercial Metals by 9.5% during the fourth quarter. Bank of Montreal Can now owns 15,801 shares of the basic materials company’s stock valued at $784,000 after acquiring an additional 1,369 shares during the period. GAMMA Investing LLC grew its holdings in shares of Commercial Metals by 5,679.9% during the 1st quarter. GAMMA Investing LLC now owns 150,913 shares of the basic materials company’s stock worth $6,944,000 after purchasing an additional 148,302 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Commercial Metals by 60.7% during the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 267 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Commercial Metals by 6.7% during the fourth quarter. Bank of New York Mellon Corp now owns 1,163,920 shares of the basic materials company’s stock valued at $57,730,000 after purchasing an additional 73,368 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Commercial Metals by 0.4% in the fourth quarter. Rhumbline Advisers now owns 390,615 shares of the basic materials company’s stock valued at $19,374,000 after purchasing an additional 1,670 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director John R. Mcpherson purchased 2,475 shares of Commercial Metals stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the transaction, the director now directly 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 through this link. 0.46% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CMC has been the topic of a number of recent research reports. Morgan Stanley decreased their price target on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. Wolfe Research raised shares of Commercial Metals from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Tuesday, May 27th. JPMorgan Chase & Co. assumed coverage on shares of Commercial Metals in a research note on Friday, May 30th. They issued a “neutral” rating and a $52.00 target price on the stock. UBS Group dropped their price target on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Finally, BMO Capital Markets decreased their price objective on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a report on Friday, March 21st. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Commercial Metals currently has an average rating of “Hold” and an average target price of $58.00.

Commercial Metals Stock Up 1.1%

CMC opened at $48.96 on Wednesday. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 81.60, a PEG ratio of 2.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.82. The firm’s 50-day simple moving average is $46.18 and its 200-day simple moving average is $48.56. Commercial Metals Company has a twelve month low of $37.92 and a twelve month high of $64.53.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. Commercial Metals had a return on equity of 8.23% and a net margin of 0.94%. Commercial Metals’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 earnings per share. Equities research analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

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.