Commercial Metals (NYSE:CMC) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC trimmed its stake in Commercial Metals (NYSE:CMC) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,542 shares of the basic materials company’s stock after selling 898 shares during the period. Moran Wealth Management LLC’s holdings in Commercial Metals were worth $628,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Commercial Metals by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 12,450,082 shares of the basic materials company’s stock valued at $615,159,000 after buying an additional 487,792 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Commercial Metals by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,611,020 shares of the basic materials company’s stock valued at $380,859,000 after acquiring an additional 160,228 shares during the period. Fuller & Thaler Asset Management Inc. grew its stake in shares of Commercial Metals by 26.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,506,247 shares of the basic materials company’s stock valued at $123,834,000 after buying an additional 527,709 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Commercial Metals by 241.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,809,841 shares of the basic materials company’s stock valued at $90,564,000 after purchasing an additional 1,279,617 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Commercial Metals by 0.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,697,924 shares of the basic materials company’s stock valued at $84,964,000 after purchasing an additional 11,281 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Chairman Barbara Smith sold 35,704 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $57.88, for a total value of $2,066,547.52. Following the sale, the chairman now directly owns 36,196 shares in the company, valued at $2,095,024.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CMC. StockNews.com upgraded Commercial Metals from a “hold” rating to a “buy” rating in a research report on Wednesday. BMO Capital Markets lifted their price target on Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd.

Commercial Metals Stock Performance

CMC stock traded down $0.01 during mid-day trading on Thursday, reaching $58.37. 11,598 shares of the stock traded hands, compared to its average volume of 926,650. The business has a 50-day moving average of $56.01 and a two-hundred day moving average of $51.61. The firm has a market capitalization of $6.75 billion, a PE ratio of 10.14 and a beta of 1.35. The company has a quick ratio of 2.69, a current ratio of 4.19 and a debt-to-equity ratio of 0.27. Commercial Metals has a 52 week low of $39.85 and a 52 week high of $59.81.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, March 21st. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.05). Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the company earned $1.44 EPS. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities analysts predict that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Monday, April 1st were paid a dividend of $0.18 per share. This is a boost from Commercial Metals’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Thursday, March 28th. Commercial Metals’s dividend payout ratio is 12.50%.

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.