Commercial Metals (NYSE:CMC) Stock Holdings Lowered by Federated Hermes Inc.

Federated Hermes Inc. decreased its holdings in Commercial Metals (NYSE:CMC - Free Report) by 28.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 164,847 shares of the basic materials company's stock after selling 65,243 shares during the period. Federated Hermes Inc. owned approximately 0.15% of Commercial Metals worth $8,176,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CMC. Norges Bank acquired a new stake in Commercial Metals in the 4th quarter valued at $69,261,000. Franklin Resources Inc. grew its stake in shares of Commercial Metals by 87.0% in the fourth quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company's stock valued at $95,204,000 after buying an additional 893,094 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Commercial Metals by 45.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,576,316 shares of the basic materials company's stock valued at $78,185,000 after buying an additional 495,163 shares during the period. Victory Capital Management Inc. grew its position in Commercial Metals by 11.3% in the fourth quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company's stock valued at $120,152,000 after acquiring an additional 245,468 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Commercial Metals by 6.4% during the fourth quarter. Boston Partners now owns 4,055,150 shares of the basic materials company's stock valued at $201,178,000 after purchasing an additional 243,921 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Insider Buying and Selling

In related news, Director John R. Mcpherson bought 2,475 shares of the stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $40.42 per share, with a total value of $100,039.50. Following the completion of the acquisition, the director now owns 15,141 shares of the company's stock, valued at $611,999.22. This trade represents a 19.54 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CMC. BNP Paribas lowered shares of Commercial Metals from an "outperform" rating to a "neutral" rating in a report on Friday, January 3rd. BMO Capital Markets reduced their price target on Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a report on Friday, March 21st. Morgan Stanley dropped their price objective on Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a report on Friday, March 7th. UBS Group decreased their price target on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Finally, Jefferies Financial Group cut their price target on shares of Commercial Metals from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Monday, January 6th. 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.com, the stock currently has an average rating of "Hold" and an average target price of $60.33.

Commercial Metals Stock Performance

Shares of CMC traded up $0.51 during mid-day trading on Wednesday, hitting $42.20. The stock had a trading volume of 125,244 shares, compared to its average volume of 1,285,749. Commercial Metals has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The company has a market cap of $4.77 billion, a PE ratio of 38.05, a PEG ratio of 2.62 and a beta of 1.16. The company's fifty day simple moving average is $46.71 and its two-hundred day simple moving average is $51.71.

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

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, March 31st. Commercial Metals's dividend payout ratio is presently 120.00%.

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.