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

Sterling Capital Management LLC reduced its holdings in shares of Commercial Metals Company (NYSE:CMC) by 51.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 10,212 shares of the basic materials company’s stock after selling 10,901 shares during the period. Sterling Capital Management LLC’s holdings in Commercial Metals were worth $627,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of Commercial Metals by 1.4% during the first quarter. Royal Bank of Canada now owns 90,989 shares of the basic materials company’s stock worth $4,186,000 after buying an additional 1,219 shares during the last quarter. Amundi lifted its position in Commercial Metals by 13.3% during the 1st quarter. Amundi now owns 2,480 shares of the basic materials company’s stock worth $114,000 after acquiring an additional 291 shares during the period. Jones Financial Companies Lllp lifted its position in Commercial Metals by 614.9% during the 1st quarter. Jones Financial Companies Lllp now owns 11,767 shares of the basic materials company’s stock worth $541,000 after acquiring an additional 10,121 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Commercial Metals by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,033,514 shares of the basic materials company’s stock valued at $47,552,000 after purchasing an additional 56,875 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Commercial Metals by 1.8% in the first quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company’s stock valued at $2,453,000 after purchasing an additional 941 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CMC has been the subject of several recent research reports. Jefferies Financial Group raised Commercial Metals from a “buy” rating to a “buy” rating in a report on Friday, June 5th. The Goldman Sachs Group started coverage on shares of Commercial Metals in a research note on Wednesday, April 1st. They issued a “neutral” rating and a $74.00 target price for the company. Morgan Stanley lifted their target price on shares of Commercial Metals from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, June 22nd. BMO Capital Markets dropped their price target on shares of Commercial Metals from $80.00 to $77.00 and set a “market perform” rating on the stock in a research note on Monday. Finally, UBS Group raised shares of Commercial Metals from a “neutral” rating to a “buy” rating and increased their price target for the stock from $79.00 to $89.00 in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Commercial Metals currently has an average rating of “Moderate Buy” and a consensus price target of $80.10.

Commercial Metals Stock Performance

NYSE:CMC opened at $61.28 on Thursday. The firm’s fifty day simple moving average is $71.87 and its 200-day simple moving average is $71.17. The company has a quick ratio of 1.54, a current ratio of 2.33 and a debt-to-equity ratio of 0.73. The stock has a market cap 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. Commercial Metals Company has a fifty-two week low of $49.66 and a fifty-two week high of $84.87.

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 the consensus estimate of $1.70 by $0.03. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Commercial Metals had a net margin of 6.72% and a return on equity of 15.69%. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.74 earnings per share. Analysts expect that Commercial Metals Company will post 6.54 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

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

Commercial Metals Company 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.