Allspring Global Investments Holdings LLC Has $12.52 Million Stock Holdings in Commercial Metals Company (NYSE:CMC)

Allspring Global Investments Holdings LLC increased its holdings in Commercial Metals Company (NYSE:CMC - Free Report) by 12.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 266,489 shares of the basic materials company's stock after purchasing an additional 29,505 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.24% of Commercial Metals worth $12,520,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CMC. Park Square Financial Group LLC purchased a new position in Commercial Metals in the fourth quarter worth approximately $33,000. Heck Capital Advisors LLC purchased a new position in shares of Commercial Metals during the fourth quarter worth $34,000. UMB Bank n.a. boosted its position in shares of Commercial Metals by 51.9% during the first 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. South Plains Financial Inc. purchased a new position in shares of Commercial Metals during the fourth quarter worth $73,000. Finally, Fifth Third Bancorp boosted its position in shares of Commercial Metals by 21.2% during the first quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company's stock worth $73,000 after buying an additional 279 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CMC. BMO Capital Markets reiterated a "market perform" rating and issued a $55.00 target price (down from $57.00) on shares of Commercial Metals in a report on Tuesday, June 24th. Morgan Stanley set a $57.50 target price on Commercial Metals in a report on Wednesday, June 25th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. JPMorgan Chase & Co. started coverage on Commercial Metals in a research report on Friday, May 30th. They set a "neutral" rating and a $52.00 price objective for the company. Finally, UBS Group reaffirmed a "neutral" rating on shares of Commercial Metals in a research report on Friday, June 20th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $57.21.

Commercial Metals Stock Performance

Commercial Metals stock traded down $1.37 on Monday, reaching $51.04. 1,002,129 shares of the stock were exchanged, compared to its average volume of 994,362. The stock has a market cap of $5.71 billion, a PE ratio of 164.65, a PEG ratio of 2.11 and a beta of 1.26. The company has a current ratio of 2.86, a quick ratio of 2.00 and a debt-to-equity ratio of 0.32. Commercial Metals Company has a twelve month low of $37.92 and a twelve month high of $64.53. The firm has a fifty day moving average price of $48.28 and a two-hundred day moving average price of $47.70.

Commercial Metals (NYSE:CMC - Get Free Report) last released its earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share for the quarter, missing analysts' consensus estimates of $0.85 by ($0.11). The firm had revenue of $2.02 billion for 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%. The firm's revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. Sell-side analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Monday, June 30th. Commercial Metals's dividend payout ratio is currently 232.26%.

About Commercial Metals

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.