Schroder Investment Management Group decreased its stake in Commercial Metals (NYSE:CMC) by 85.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,171 shares of the basic materials company’s stock after selling 224,539 shares during the period. Schroder Investment Management Group’s holdings in Commercial Metals were worth $814,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. 3G Capital Partners LP bought a new position in shares of Commercial Metals in the third quarter valued at $9,515,000. Russell Investments Group Ltd. lifted its position in shares of Commercial Metals by 4,203.2% during the third quarter. Russell Investments Group Ltd. now owns 589,535 shares of the basic materials company’s stock valued at $11,218,000 after purchasing an additional 575,835 shares in the last quarter. ING Groep NV lifted its position in shares of Commercial Metals by 23.3% during the fourth quarter. ING Groep NV now owns 17,479 shares of the basic materials company’s stock valued at $373,000 after purchasing an additional 3,299 shares in the last quarter. Hodges Capital Management Inc. lifted its position in shares of Commercial Metals by 1.6% during the third quarter. Hodges Capital Management Inc. now owns 1,057,486 shares of the basic materials company’s stock valued at $20,124,000 after purchasing an additional 16,490 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Commercial Metals during the third quarter valued at about $295,000. 88.25% of the stock is owned by institutional investors and hedge funds.
Commercial Metals (NYSE:CMC) traded down $0.89 during trading on Wednesday, reaching $24.47. 1,376,869 shares of the company traded hands, compared to its average volume of 1,940,791. The company has a quick ratio of 2.07, a current ratio of 3.20 and a debt-to-equity ratio of 0.56. Commercial Metals has a one year low of $17.05 and a one year high of $26.72. The stock has a market cap of $2,984.60, a price-to-earnings ratio of 37.46 and a beta of 1.21.
Commercial Metals (NYSE:CMC) last posted its earnings results on Wednesday, January 3rd. The basic materials company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.18 billion. Commercial Metals had a return on equity of 8.08% and a net margin of 1.53%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 EPS. analysts predict that Commercial Metals will post 1.43 EPS for the current fiscal year.
In other Commercial Metals news, EVP Tracy L. Porter sold 6,935 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $25.14, for a total value of $174,345.90. Following the completion of the transaction, the executive vice president now directly owns 10 shares of the company’s stock, valued at $251.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Adam R. Hickey sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $25.85, for a total value of $517,000.00. Following the completion of the sale, the vice president now owns 15,632 shares of the company’s stock, valued at $404,087.20. The disclosure for this sale can be found here. Insiders sold 60,536 shares of company stock worth $1,541,915 in the last quarter. 1.50% of the stock is owned by insiders.
CMC has been the subject of a number of research analyst reports. Bank of America upgraded shares of Commercial Metals from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $21.00 to $24.00 in a report on Thursday, December 7th. Zacks Investment Research cut shares of Commercial Metals from a “hold” rating to a “sell” rating in a research note on Thursday, December 28th. ValuEngine raised shares of Commercial Metals from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, JPMorgan Chase & Co. upgraded shares of Commercial Metals from a “neutral” rating to an “overweight” rating in a research report on Friday, March 9th. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $22.38.
About Commercial Metals
Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.
Receive News & Ratings for Commercial Metals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Commercial Metals and related companies with MarketBeat.com's FREE daily email newsletter.