Commercial Metals Company $CMC Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lowered its position in Commercial Metals Company (NYSE:CMC) by 51.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,212 shares of the basic materials company’s stock after selling 10,901 shares during the quarter. Sterling Capital Management LLC’s holdings in Commercial Metals were worth $627,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new stake in Commercial Metals in the 1st quarter valued at about $1,978,000. Delphi Management Inc. MA acquired a new position in Commercial Metals during the first quarter worth about $276,000. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Commercial Metals by 4.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 4,164 shares of the basic materials company’s stock valued at $256,000 after purchasing an additional 160 shares in the last quarter. OP Asset Management Ltd acquired a new stake in shares of Commercial Metals in the first quarter valued at approximately $310,000. Finally, SG Americas Securities LLC grew its position in shares of Commercial Metals by 1,074.0% in the first quarter. SG Americas Securities LLC now owns 24,560 shares of the basic materials company’s stock valued at $1,509,000 after purchasing an additional 22,468 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMC has been the subject of several research reports. Morgan Stanley lifted their price objective on Commercial Metals from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, June 22nd. KeyCorp began coverage on Commercial Metals in a report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Zacks Research downgraded Commercial Metals from a “hold” rating to a “strong sell” rating in a research report on Friday, June 12th. BMO Capital Markets cut their price target on Commercial Metals from $80.00 to $77.00 and set a “market perform” rating for the company in a report on Monday. Finally, Wells Fargo & Company upped their price objective on Commercial Metals from $77.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Commercial Metals presently has a consensus rating of “Moderate Buy” and an average target price of $80.10.

Commercial Metals Trading Down 2.3%

Shares of CMC opened at $61.28 on Thursday. Commercial Metals Company has a fifty-two week low of $49.66 and a fifty-two week high of $84.87. The company has a market capitalization of $6.78 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.36 and a beta of 1.54. The stock has a fifty day moving average of $71.87 and a two-hundred day moving average of $71.17. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.54 and a current ratio of 2.33.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, June 25th. The basic materials company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.03. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.40 billion. Commercial Metals had a return on equity of 15.69% and a net margin of 6.72%.The business’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 earnings per share. As a group, analysts forecast that Commercial Metals Company will post 6.54 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, July 6th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, July 6th. Commercial Metals’s dividend payout ratio (DPR) is presently 15.07%.

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.