Ameriprise Financial Inc. Sells 40,698 Shares of Commercial Metals (NYSE:CMC)

Ameriprise Financial Inc. decreased its holdings in shares of Commercial Metals (NYSE:CMC - Free Report) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 633,048 shares of the basic materials company's stock after selling 40,698 shares during the quarter. Ameriprise Financial Inc. owned 0.56% of Commercial Metals worth $31,399,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CMC. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Commercial Metals by 5.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,528 shares of the basic materials company's stock worth $225,000 after purchasing an additional 229 shares in the last quarter. Mariner LLC boosted its stake in Commercial Metals by 0.9% in the fourth quarter. Mariner LLC now owns 24,735 shares of the basic materials company's stock worth $1,227,000 after buying an additional 232 shares in the last quarter. Truist Financial Corp grew its position in Commercial Metals by 3.5% during the fourth quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company's stock valued at $355,000 after acquiring an additional 242 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in Commercial Metals by 10.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company's stock valued at $138,000 after acquiring an additional 254 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Commercial Metals by 0.8% in the 4th quarter. Arizona State Retirement System now owns 33,373 shares of the basic materials company's stock worth $1,655,000 after acquiring an additional 262 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CMC has been the subject of several recent research reports. Morgan Stanley lowered their price target on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, March 7th. UBS Group lowered their target price on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. Finally, BMO Capital Markets reduced their price target on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a research report on Friday, March 21st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $60.33.

Insider Activity

In related news, Director John R. Mcpherson bought 2,475 shares of the stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $40.42 per share, for a total transaction of $100,039.50. Following the purchase, the director now owns 15,141 shares of the company's stock, valued at approximately $611,999.22. The trade was a 19.54% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.46% of the company's stock.

Commercial Metals Price Performance

Shares of NYSE CMC opened at $47.84 on Wednesday. The company has a 50 day simple moving average of $44.66 and a two-hundred day simple moving average of $50.47. Commercial Metals has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 43.10, a P/E/G ratio of 2.62 and a beta of 1.29. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the business earned $0.88 EPS. The firm's quarterly revenue was down 5.1% on a year-over-year basis. Analysts expect that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.51%. Commercial Metals's dividend payout ratio is presently 120.00%.

About Commercial Metals

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.

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