Commercial Metals (NYSE:CMC) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P reduced its stake in shares of Commercial Metals (NYSE:CMC) by 2.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,079 shares of the basic materials company’s stock after selling 884 shares during the quarter. Martingale Asset Management L P’s holdings in Commercial Metals were worth $2,258,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CMC. First Dallas Securities Inc. increased its holdings in shares of Commercial Metals by 0.8% during the 2nd quarter. First Dallas Securities Inc. now owns 22,234 shares of the basic materials company’s stock valued at $1,222,000 after purchasing an additional 185 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Commercial Metals by 0.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 26,778 shares of the basic materials company’s stock worth $1,473,000 after acquiring an additional 187 shares during the period. Tectonic Advisors LLC boosted its stake in shares of Commercial Metals by 1.6% during the 3rd quarter. Tectonic Advisors LLC now owns 17,774 shares of the basic materials company’s stock worth $977,000 after acquiring an additional 272 shares in the last quarter. SummerHaven Investment Management LLC grew its position in shares of Commercial Metals by 2.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 13,615 shares of the basic materials company’s stock valued at $749,000 after acquiring an additional 276 shares during the period. Finally, Assetmark Inc. increased its stake in shares of Commercial Metals by 6.4% in the 3rd quarter. Assetmark Inc. now owns 4,602 shares of the basic materials company’s stock valued at $253,000 after purchasing an additional 277 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on CMC. Jefferies Financial Group started coverage on Commercial Metals in a report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective on the stock. BMO Capital Markets set a $62.00 price target on shares of Commercial Metals and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, Wolfe Research downgraded shares of Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Commercial Metals presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.25.

Commercial Metals Trading Up 0.5 %

Shares of CMC stock opened at $61.69 on Friday. Commercial Metals has a fifty-two week low of $44.78 and a fifty-two week high of $63.40. The firm has a market capitalization of $7.03 billion, a P/E ratio of 14.90, a PEG ratio of 2.73 and a beta of 1.14. The stock’s fifty day moving average is $56.45 and its two-hundred day moving average is $54.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.78 and a current ratio of 3.94.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, October 17th. The basic materials company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.01). The business had revenue of $2 billion for the quarter, compared to analyst estimates of $2.07 billion. Commercial Metals had a return on equity of 12.20% and a net margin of 6.13%. Research analysts expect that Commercial Metals will post 4.26 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, October 31st were issued a $0.18 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.17%. Commercial Metals’s dividend payout ratio is presently 17.39%.

Commercial Metals 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.