Commercial Metals (NYSE:CMC) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its stake in Commercial Metals (NYSE:CMC - Free Report) by 3.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 413,088 shares of the basic materials company's stock after selling 12,725 shares during the quarter. Millennium Management LLC owned 0.36% of Commercial Metals worth $20,489,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Boston Partners grew its stake in Commercial Metals by 6.4% in the 4th quarter. Boston Partners now owns 4,055,150 shares of the basic materials company's stock valued at $201,178,000 after acquiring an additional 243,921 shares during the period. Victory Capital Management Inc. boosted its stake in Commercial Metals by 11.3% during the 4th quarter. Victory Capital Management Inc. now owns 2,422,427 shares of the basic materials company's stock worth $120,152,000 after purchasing an additional 245,468 shares during the last quarter. Franklin Resources Inc. boosted its stake in Commercial Metals by 87.0% during the 4th quarter. Franklin Resources Inc. now owns 1,919,445 shares of the basic materials company's stock worth $95,204,000 after purchasing an additional 893,094 shares during the last quarter. First Trust Advisors LP boosted its stake in Commercial Metals by 34.1% during the 4th quarter. First Trust Advisors LP now owns 1,754,840 shares of the basic materials company's stock worth $87,040,000 after purchasing an additional 446,317 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Commercial Metals by 10.2% during the 4th quarter. Northern Trust Corp now owns 1,749,877 shares of the basic materials company's stock worth $86,794,000 after purchasing an additional 162,201 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CMC shares. UBS Group lowered their target price on shares of Commercial Metals from $54.00 to $49.00 and set a "neutral" rating on the stock in a research note on Monday, March 24th. BMO Capital Markets lowered their target price on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating on the stock in a research note on Friday, March 21st. Finally, Morgan Stanley lowered their target price on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $60.33.

Commercial Metals Trading Down 1.1%

Shares of NYSE CMC traded down $0.52 during trading on Monday, hitting $46.19. 880,918 shares of the company were exchanged, compared to its average volume of 961,275. Commercial Metals has a 12-month low of $37.92 and a 12-month high of $64.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. The company has a fifty day moving average price of $44.99 and a 200-day moving average price of $49.83. The firm has a market capitalization of $5.22 billion, a PE ratio of 41.61, a P/E/G ratio of 2.62 and a beta of 1.29.

Commercial Metals (NYSE:CMC - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.73 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm's revenue was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 EPS. As a group, equities research analysts expect that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were issued a $0.18 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 1.56%. Commercial Metals's dividend payout ratio (DPR) is currently 120.00%.

Insider Activity at Commercial Metals

In related news, Director John R. Mcpherson acquired 2,475 shares of Commercial Metals stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the acquisition, the director now owns 15,141 shares in the company, valued at approximately $611,999.22. This represents a 19.54% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.46% of the stock is owned by insiders.

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.