Hancock Whitney Corp Has $1.34 Million Stock Holdings in Commercial Metals Company $CMC

Key Points

• Hancock Whitney Corp has significantly reduced its stake in Commercial Metals Company by 66.2%, now holding 29,186 shares after selling 57,113 shares in the first quarter.
• Commercial Metals reported disappointing earnings, with $0.74 EPS for the quarter, missing expectations by ($0.11) amid a 2.8% year-over-year revenue decline.
• The company has announced a quarterly dividend of $0.18 per share, indicating a dividend yield of 1.2%, despite a high payout ratio of 232.26%.

Hancock Whitney Corp cut its stake in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 66.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,186 shares of the basic materials company's stock after selling 57,113 shares during the period. Hancock Whitney Corp's holdings in Commercial Metals were worth $1,343,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Isthmus Partners LLC lifted its holdings in shares of Commercial Metals by 3.2% during the first quarter. Isthmus Partners LLC now owns 7,381 shares of the basic materials company's stock worth $340,000 after buying an additional 226 shares during the last quarter. Choreo LLC boosted its holdings in Commercial Metals by 2.1% in the 1st quarter. Choreo LLC now owns 11,015 shares of the basic materials company's stock valued at $509,000 after purchasing an additional 228 shares during the period. National Bank of Canada FI grew its position in 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 worth $25,000 after purchasing an additional 244 shares during the last quarter. UMB Bank n.a. raised 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 valued at $36,000 after buying an additional 268 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Commercial Metals by 21.2% in the first quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company's stock valued at $73,000 after buying an additional 279 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Stock Up 0.6%

CMC traded up $0.38 during trading on Thursday, hitting $58.70. The company had a trading volume of 238,911 shares, compared to its average volume of 1,080,235. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $6.57 billion, a PE ratio of 189.19, a PEG ratio of 1.77 and a beta of 1.33. Commercial Metals Company has a one year low of $37.92 and a one year high of $64.53. The firm's 50-day moving average price is $54.63 and its 200 day moving average price is $49.31.

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 (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.11). The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.04 billion. Commercial Metals had a return on equity of 7.45% and a net margin of 0.48%.The business's revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.02 EPS. As a group, equities analysts expect that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

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

Analysts Set New Price Targets

CMC has been the subject of several recent research reports. Jefferies Financial Group reaffirmed a "buy" rating on shares of Commercial Metals in a report on Friday, June 20th. Morgan Stanley set a $57.50 price target on Commercial Metals in a research note on Wednesday, June 25th. UBS Group upped their price objective on shares of Commercial Metals from $48.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 13th. Wells Fargo & Company upgraded shares of Commercial Metals to a "strong-buy" rating in a research note on Thursday, August 14th. Finally, Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a report on Friday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $58.81.

Commercial Metals Company 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.