Commercial Metals Company $CMC Shares Sold by UBS Group AG

Key Points

• UBS Group AG cut its stake in Commercial Metals by 22.1% in Q4, selling 335,776 shares and finishing the period with 1,185,354 shares (1.07% of the company) worth about $82.05 million.
• Insider Jennifer J. Durbin sold 25,050 shares on Feb. 3 at an average price of $79.97 (≈$2.0M), reducing her ownership by 32.14%; company insiders now hold 0.62% of stock.
• Commercial Metals missed EPS estimates ($1.16 vs. $1.28) while revenue rose 21.5% to $2.13B; the company raised its quarterly dividend to $0.20 (annualized $0.80, ~1.2% yield) and carries a consensus analyst rating of Moderate Buy with a $71.50 target.

UBS Group AG lessened its holdings in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 22.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,185,354 shares of the basic materials company's stock after selling 335,776 shares during the period. UBS Group AG owned 1.07% of Commercial Metals worth $82,050,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hoey Investments Inc. grew its holdings in shares of Commercial Metals by 9.1% during the fourth quarter. Hoey Investments Inc. now owns 40,086 shares of the basic materials company's stock valued at $2,775,000 after purchasing an additional 3,339 shares during the last quarter. M&T Bank Corp raised its position in shares of Commercial Metals by 145.6% during the 4th quarter. M&T Bank Corp now owns 14,428 shares of the basic materials company's stock worth $999,000 after purchasing an additional 8,554 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Commercial Metals by 33.7% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 87,228 shares of the basic materials company's stock worth $6,051,000 after purchasing an additional 21,983 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Commercial Metals by 16.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,781 shares of the basic materials company's stock valued at $2,477,000 after purchasing an additional 5,097 shares during the period. Finally, Merit Financial Group LLC boosted its position in Commercial Metals by 3.9% during the 4th quarter. Merit Financial Group LLC now owns 14,887 shares of the basic materials company's stock valued at $1,031,000 after purchasing an additional 554 shares during the period. 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 company's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $79.97, for a total value of $2,003,248.50. Following the completion of the sale, the insider directly owned 52,880 shares in the company, valued at $4,228,813.60. This represents a 32.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.62% of the stock is owned by company insiders.

Commercial Metals Stock Performance

CMC stock opened at $68.54 on Monday. The company has a 50-day simple moving average of $66.05 and a 200 day simple moving average of $67.81. The company has a market capitalization of $7.60 billion, a P/E ratio of 15.26, a PEG ratio of 0.39 and a beta of 1.49. 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 Company has a fifty-two week low of $44.67 and a fifty-two week high of $84.87.

Commercial Metals (NYSE:CMC - Get Free Report) last released its earnings results on Thursday, March 26th. The basic materials company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.12). The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.10 billion. Commercial Metals had a net margin of 6.02% and a return on equity of 13.54%. The firm's quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 EPS. Sell-side analysts predict that Commercial Metals Company will post 6.54 earnings per share for the current fiscal year.

Commercial Metals Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, April 6th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, April 6th. This is a positive change from Commercial Metals's previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a yield of 1.2%. Commercial Metals's dividend payout ratio is presently 16.04%.

Analyst Ratings Changes

CMC has been the topic of several analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Commercial Metals in a research report on Wednesday, January 21st. Zacks Research downgraded shares of Commercial Metals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 3rd. The Goldman Sachs Group initiated coverage on shares of Commercial Metals in a research report on Wednesday, April 1st. They set a "neutral" rating and a $74.00 price target for the company. Morgan Stanley increased their price objective on shares of Commercial Metals from $68.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, January 9th. Finally, Wells Fargo & Company cut their price objective on shares of Commercial Metals from $80.00 to $77.00 and set an "overweight" rating on the stock in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Commercial Metals has a consensus rating of "Moderate Buy" and a consensus target price of $71.50.

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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