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

Ameriprise Financial Inc. lessened its position in Commercial Metals (NYSE:CMC - Free Report) by 6.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 633,048 shares of the basic materials company's stock after selling 40,698 shares during the period. Ameriprise Financial Inc. owned approximately 0.56% of Commercial Metals worth $31,399,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CMC. Barclays PLC grew its stake in Commercial Metals by 67.5% in the third quarter. Barclays PLC now owns 210,769 shares of the basic materials company's stock valued at $11,584,000 after acquiring an additional 84,905 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Commercial Metals by 66.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 71,151 shares of the basic materials company's stock valued at $3,529,000 after buying an additional 28,297 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of 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 buying an additional 254 shares during the last quarter. Covea Finance boosted its position in shares of Commercial Metals by 44.2% during the fourth quarter. Covea Finance now owns 62,000 shares of the basic materials company's stock valued at $3,075,000 after buying an additional 19,000 shares during the last quarter. Finally, Spring Capital Management LLC purchased a new position in shares of Commercial Metals during the fourth quarter valued at approximately $248,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Morgan Stanley cut their target price on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Friday, March 7th. BMO Capital Markets cut their target price 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. Finally, UBS Group cut their target price on Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a research report on Monday, March 24th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $60.33.

Commercial Metals Stock Performance

CMC stock traded down $0.27 during midday trading on Monday, hitting $47.77. The company's stock had a trading volume of 502,659 shares, compared to its average volume of 959,885. The stock's 50-day moving average price is $44.92 and its 200 day moving average price is $50.27. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. Commercial Metals has a 1 year low of $37.92 and a 1 year high of $64.53. The stock has a market cap of $5.40 billion, a price-to-earnings ratio of 43.04, a PEG ratio of 2.62 and a beta of 1.29.

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 the consensus estimate of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The business had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.73 billion. During the same period in the prior year, the firm posted $0.88 EPS. The firm's revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities analysts forecast that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

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

Insider Buying and Selling at Commercial Metals

In other news, Director John R. Mcpherson bought 2,475 shares of the stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the purchase, the director now directly owns 15,141 shares in the company, valued at $611,999.22. This represents a 19.54% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.46% of the company's stock.

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.