Federated Hermes Inc. Sells 21,257 Shares of Commercial Metals Company (NYSE:CMC)

Federated Hermes Inc. cut its stake in Commercial Metals Company (NYSE:CMC - Free Report) by 12.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,590 shares of the basic materials company's stock after selling 21,257 shares during the quarter. Federated Hermes Inc. owned approximately 0.13% of Commercial Metals worth $6,607,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CMC. LPL Financial LLC raised its position in shares of Commercial Metals by 9.7% in the fourth quarter. LPL Financial LLC now owns 41,483 shares of the basic materials company's stock valued at $2,058,000 after purchasing an additional 3,661 shares during the period. Pictet Asset Management Holding SA grew its stake in shares of Commercial Metals by 5.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 17,142 shares of the basic materials company's stock valued at $850,000 after acquiring an additional 906 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Commercial Metals in the fourth quarter valued at about $378,000. Grantham Mayo Van Otterloo & Co. LLC grew its stake in shares of Commercial Metals by 26.4% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 85,338 shares of the basic materials company's stock valued at $4,233,000 after acquiring an additional 17,827 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Commercial Metals by 5.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 362,845 shares of the basic materials company's stock valued at $17,997,000 after acquiring an additional 19,353 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Commercial Metals Trading Down 3.2%

Shares of Commercial Metals stock opened at $50.22 on Monday. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 162.00, a PEG ratio of 2.32 and a beta of 1.28. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $64.53. The firm's 50-day moving average price is $50.46 and its two-hundred day moving average price is $48.08.

Commercial Metals (NYSE:CMC - Get Free Report) last announced 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). 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 company's quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.02 earnings per share. On average, analysts forecast that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts recently commented on CMC shares. 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 note on Tuesday, June 24th. Morgan Stanley set a $57.50 price target on shares of Commercial Metals in a research note on Wednesday, June 25th. 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. Wolfe Research upgraded shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a research note on Friday, June 20th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Commercial Metals in a research note on Friday, June 20th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $57.50.

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.

Want to see what other hedge funds are holding CMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Commercial Metals Company (NYSE:CMC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.