Commercial Metals Company $CMC Shares Sold by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC reduced its stake in Commercial Metals by 94.9% in Q4, selling 39,264 shares and leaving 2,092 shares valued at about $145,000.
• Insider activity was notable: Jennifer J. Durbin sold 25,050 shares at an average $79.97 (~$2.0M), cutting her holding by 32%, while director Dennis V. Arriola bought 2,000 shares at $74.69, increasing his stake by about 27.6%.
• Commercial Metals reported $1.16 EPS (missed by $0.12) and $2.13B revenue (up 21.5% YoY), raised its quarterly dividend to $0.20 (annualized $0.80, 1.2% yield), and holds a consensus analyst rating of Moderate Buy with an average target of $71.50.

SG Americas Securities LLC lowered its position in Commercial Metals Company (NYSE:CMC - Free Report) by 94.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,092 shares of the basic materials company's stock after selling 39,264 shares during the period. SG Americas Securities LLC's holdings in Commercial Metals were worth $145,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in Commercial Metals by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,543 shares of the basic materials company's stock valued at $1,383,000 after buying an additional 206 shares in the last quarter. Maridea Wealth Management LLC purchased a new stake in Commercial Metals in the 4th quarter valued at approximately $225,000. Green Alpha Advisors LLC lifted its stake in Commercial Metals by 1.2% in the 4th quarter. Green Alpha Advisors LLC now owns 20,701 shares of the basic materials company's stock valued at $1,433,000 after buying an additional 244 shares in the last quarter. GAMMA Investing LLC lifted its stake in Commercial Metals by 9.6% in the 4th quarter. GAMMA Investing LLC now owns 3,082 shares of the basic materials company's stock valued at $213,000 after buying an additional 271 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in Commercial Metals by 45.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 217,082 shares of the basic materials company's stock valued at $12,434,000 after buying an additional 67,864 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Insiders Place Their Bets

In other Commercial Metals news, insider Jennifer J. Durbin sold 25,050 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $79.97, for a total transaction of $2,003,248.50. Following the transaction, the insider owned 52,880 shares of the company's stock, valued at $4,228,813.60. This represents a 32.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dennis V. Arriola purchased 2,000 shares of Commercial Metals stock in a transaction on Tuesday, January 20th. The shares were acquired at an average cost of $74.69 per share, for a total transaction of $149,380.00. Following the purchase, the director owned 9,238 shares in the company, valued at approximately $689,986.22. This trade represents a 27.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

CMC has been the topic of a number of recent research reports. Zacks Research lowered Commercial Metals from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 3rd. The Goldman Sachs Group initiated coverage on Commercial Metals in a research note on Wednesday, April 1st. They issued a "neutral" rating and a $74.00 target price on the stock. Morgan Stanley upped their target price on Commercial Metals from $68.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, January 9th. Wall Street Zen lowered Commercial Metals from a "strong-buy" rating to a "buy" rating in a research note on Saturday, April 4th. Finally, Jefferies Financial Group set a $85.00 target price on Commercial Metals and gave the company a "buy" rating in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $71.50.

Commercial Metals Trading Up 3.3%

Shares of Commercial Metals stock opened at $66.15 on Friday. Commercial Metals Company has a fifty-two week low of $41.26 and a fifty-two week high of $84.87. The firm has a market cap of $7.33 billion, a PE ratio of 14.73, a P/E/G ratio of 0.37 and a beta of 1.47. The business's fifty day moving average is $68.20 and its two-hundred day moving average is $67.07. The company has a quick ratio of 1.55, a current ratio of 2.38 and a debt-to-equity ratio of 0.75.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings results on Thursday, March 26th. The basic materials company reported $1.16 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.12). Commercial Metals had a return on equity of 13.54% and a net margin of 6.02%.The business had revenue of $2.13 billion for the quarter, compared to analysts' expectations of $2.10 billion. During the same period in the prior year, the company earned $0.26 EPS. The company's revenue for the quarter was up 21.5% compared to the same quarter last year. Analysts anticipate that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, April 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Commercial Metals's previous quarterly dividend of $0.18. Commercial Metals's dividend payout ratio is currently 16.04%.

Commercial Metals Company Profile

Commercial Metals Company NYSE: CMC is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.

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