Bank of New York Mellon Corp Sells 48,433 Shares of Commercial Metals Company (NYSE:CMC)

Bank of New York Mellon Corp lowered its holdings in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 4.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,115,487 shares of the basic materials company's stock after selling 48,433 shares during the period. Bank of New York Mellon Corp owned about 0.99% of Commercial Metals worth $51,324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Park Square Financial Group LLC bought a new stake in Commercial Metals in the fourth quarter valued at about $33,000. Heck Capital Advisors LLC bought a new stake in shares of Commercial Metals in the 4th quarter valued at approximately $34,000. UMB Bank n.a. lifted its position in shares of Commercial Metals by 51.9% during the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company's stock worth $36,000 after buying an additional 268 shares during the period. Wayfinding Financial LLC acquired a new stake in Commercial Metals in the 1st quarter valued at $47,000. Finally, South Plains Financial Inc. bought a new stake in Commercial Metals in the fourth quarter valued at $73,000. Institutional investors own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

CMC has been the subject of a number of analyst reports. Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a report on Friday, June 20th. BMO Capital Markets restated a "market perform" rating and issued a $55.00 price target (down from $57.00) on shares of Commercial Metals in a research report on Tuesday, June 24th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Commercial Metals in a report on Friday, June 20th. UBS Group restated a "neutral" rating on shares of Commercial Metals in a research report on Friday, June 20th. Finally, Morgan Stanley set a $57.50 price objective on Commercial Metals in a research report on Wednesday, June 25th. Five 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, Commercial Metals has an average rating of "Hold" and a consensus target price of $57.50.

Commercial Metals Trading Up 0.7%

CMC traded up $0.37 during mid-day trading on Wednesday, reaching $51.28. The stock had a trading volume of 754,099 shares, compared to its average volume of 996,661. The firm's fifty day simple moving average is $49.07 and its two-hundred day simple moving average is $47.79. The stock has a market capitalization of $5.74 billion, a P/E ratio of 165.42, a P/E/G ratio of 2.10 and a beta of 1.26. Commercial Metals Company has a 52 week low of $37.92 and a 52 week high of $64.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86.

Commercial Metals (NYSE:CMC - Get Free Report) last announced its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.11). The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2.04 billion. Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%. Commercial Metals's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.02 earnings per share. On average, equities analysts predict that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Monday, June 30th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Monday, June 30th. Commercial Metals's dividend payout ratio (DPR) is 232.26%.

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.