Nordea Investment Management AB Sells 25,210 Shares of Commercial Metals Company $CMC

Nordea Investment Management AB decreased its position in shares of Commercial Metals Company (NYSE:CMC) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 299,824 shares of the basic materials company’s stock after selling 25,210 shares during the period. Nordea Investment Management AB owned about 0.27% of Commercial Metals worth $20,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CMC. Root Financial Partners LLC bought a new stake in Commercial Metals during the 3rd quarter worth approximately $25,000. Rothschild Investment LLC raised its position in Commercial Metals by 169.6% in the 3rd quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 324 shares during the last quarter. Spire Wealth Management boosted its stake in Commercial Metals by 42.4% in the third quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 183 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Commercial Metals in the third quarter worth $73,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Commercial Metals by 84.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,550 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 708 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling

In other Commercial Metals news, insider Jennifer J. Durbin sold 25,050 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $79.97, for a total value of $2,003,248.50. Following the transaction, the insider directly owned 52,880 shares of the company’s stock, valued at approximately $4,228,813.60. This trade represents a 32.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis V. Arriola bought 2,000 shares of the stock in a transaction on Tuesday, January 20th. The shares were acquired at an average cost of $74.69 per share, with a total value of $149,380.00. Following the acquisition, the director directly owned 9,238 shares in the company, valued at approximately $689,986.22. This trade represents a 27.63% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.62% of the company’s stock.

Commercial Metals Trading Up 3.2%

Shares of CMC opened at $63.86 on Wednesday. The stock’s fifty day simple moving average is $73.49 and its 200-day simple moving average is $66.59. The firm has a market capitalization of $7.08 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 0.33 and a beta of 1.47. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $84.87. The company has a quick ratio of 3.70, a current ratio of 4.47 and a debt-to-equity ratio of 0.77.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, January 8th. The basic materials company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.29. The firm had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.06 billion. Commercial Metals had a return on equity of 11.43% and a net margin of 5.46%.The company’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share. As a group, research analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Stockholders of record on Monday, January 19th were given a dividend of $0.18 per share. The ex-dividend date was Friday, January 16th. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. Commercial Metals’s payout ratio is currently 18.56%.

Analyst Ratings Changes

A number of analysts have recently weighed in on CMC shares. The Goldman Sachs Group restated a “buy” rating and issued a $84.00 target price on shares of Commercial Metals in a research note on Tuesday, December 30th. Jefferies Financial Group set a $85.00 price objective on shares of Commercial Metals and gave the stock a “buy” rating in a report on Thursday, January 8th. Morgan Stanley raised their price objective on shares of Commercial Metals from $68.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, January 9th. Wall Street Zen raised shares of Commercial Metals from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 28th. Finally, JPMorgan Chase & Co. upgraded shares of Commercial Metals from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $64.00 to $78.00 in a research report on Friday, December 5th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Commercial Metals presently has an average rating of “Moderate Buy” and a consensus price target of $72.80.

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.