Commercial Metals Company $CMC Shares Sold by First Wilshire Securities Management Inc.

Key Points

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First Wilshire Securities Management Inc. trimmed its position in Commercial Metals Company (NYSE:CMC - Free Report) by 43.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,500 shares of the basic materials company's stock after selling 5,000 shares during the period. First Wilshire Securities Management Inc.'s holdings in Commercial Metals were worth $299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. National Bank of Canada FI increased its position in shares of Commercial Metals by 80.3% in the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 244 shares during the period. Park Square Financial Group LLC acquired a new position in shares of Commercial Metals in the 4th quarter valued at $33,000. Heck Capital Advisors LLC acquired a new position in shares of Commercial Metals in the 4th quarter valued at $34,000. UMB Bank n.a. increased its position in shares of Commercial Metals by 51.9% in the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 268 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in shares of Commercial Metals in the 1st quarter valued at $47,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Commercial Metals Stock Performance

Shares of NYSE CMC traded up $2.6420 during trading on Friday, reaching $58.9520. 1,097,630 shares of the company traded hands, compared to its average volume of 874,668. The firm's fifty day simple moving average is $52.44 and its 200 day simple moving average is $48.66. The stock has a market cap of $6.60 billion, a P/E ratio of 190.17, a PEG ratio of 2.72 and a beta of 1.28. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $64.53. 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 (NYSE:CMC - Get Free Report) last posted its earnings results on Monday, June 23rd. The basic materials company reported $0.74 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 for the quarter, compared to analyst estimates of $2.04 billion. During the same quarter last year, the business earned $1.02 earnings per share. Commercial Metals's revenue was down 2.8% on a year-over-year basis. As a group, research analysts anticipate that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th were given a $0.18 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. Commercial Metals's payout ratio is 232.26%.

Wall Street Analyst Weigh In

CMC has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. BMO Capital Markets reiterated a "market perform" rating and set a $55.00 price objective (down previously from $57.00) on shares of Commercial Metals in a research note on Tuesday, June 24th. Wolfe Research upgraded Commercial Metals from a "peer perform" rating to an "outperform" rating 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. Finally, UBS Group lifted their price objective on Commercial Metals from $48.00 to $56.00 and gave the company a "neutral" rating in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Commercial Metals has a consensus rating of "Moderate Buy" and a consensus target price of $58.81.

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.