Allianz Asset Management GmbH Sells 42,873 Shares of Commercial Metals Company (NYSE:CMC)

Allianz Asset Management GmbH cut its position in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 30.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,851 shares of the basic materials company's stock after selling 42,873 shares during the period. Allianz Asset Management GmbH owned 0.09% of Commercial Metals worth $4,456,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in Commercial Metals by 12.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,853 shares of the basic materials company's stock valued at $1,189,000 after buying an additional 2,846 shares during the last quarter. GAMMA Investing LLC grew its stake in Commercial Metals by 25.6% in the 1st quarter. GAMMA Investing LLC now owns 3,280 shares of the basic materials company's stock valued at $151,000 after buying an additional 669 shares during the last quarter. SG Americas Securities LLC grew its stake in Commercial Metals by 460.1% in the 1st quarter. SG Americas Securities LLC now owns 12,383 shares of the basic materials company's stock valued at $570,000 after buying an additional 10,172 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Commercial Metals by 2.5% in the 1st quarter. State of Alaska Department of Revenue now owns 13,316 shares of the basic materials company's stock valued at $612,000 after buying an additional 325 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in Commercial Metals by 9.5% in the 4th quarter. Bank of Montreal Can now owns 15,801 shares of the basic materials company's stock valued at $784,000 after buying an additional 1,369 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CMC has been the topic of a number of research reports. UBS Group reiterated a "neutral" rating on shares of Commercial Metals in a research note on Friday, June 20th. Jefferies Financial Group reiterated a "buy" rating on shares of Commercial Metals in a research note on Friday, June 20th. JPMorgan Chase & Co. upped their price target on shares of Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Morgan Stanley set a $57.50 price objective on shares of Commercial Metals in a report on Wednesday, June 25th. Finally, Wolfe Research raised shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a report on Friday, June 20th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $57.50.

Commercial Metals Stock Performance

NYSE CMC traded down $1.24 during trading on Friday, reaching $50.62. The company's stock had a trading volume of 183,756 shares, compared to its average volume of 1,113,470. The company has a current ratio of 2.86, a quick ratio of 2.00 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 163.47, a price-to-earnings-growth ratio of 2.41 and a beta of 1.26. Commercial Metals Company has a 12 month low of $37.92 and a 12 month high of $64.53. The firm has a 50 day moving average price of $50.38 and a 200 day moving average price of $48.12.

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

Commercial Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, June 30th. Commercial Metals's dividend payout ratio is 232.26%.

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.