MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 42,275 Shares of Commercial Metals Company $CMC

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. decreased its stake in Commercial Metals Company by 4.9%, selling 42,275 shares and retaining 822,269 shares valued at approximately $37.8 million.
• Institutional investors currently own 86.90% of Commercial Metals' stock, with several institutions significantly increasing their holdings during the first quarter.
• Wall Street analysts have upgraded their ratings and price targets for Commercial Metals, with potential targets reaching up to $58.81 based on average analyst expectations.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lessened its position in Commercial Metals Company (NYSE:CMC - Free Report) by 4.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 822,269 shares of the basic materials company's stock after selling 42,275 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.73% of Commercial Metals worth $37,833,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI boosted its holdings in Commercial Metals by 80.3% during 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 purchased a new position in Commercial Metals during the 4th quarter valued at $33,000. Heck Capital Advisors LLC purchased a new position in Commercial Metals during the 4th quarter valued at $34,000. UMB Bank n.a. grew its holdings in shares of Commercial Metals by 51.9% in the first quarter. UMB Bank n.a. now owns 784 shares of the basic materials company's stock worth $36,000 after purchasing an additional 268 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Commercial Metals in the first quarter worth about $47,000. Institutional investors own 86.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CMC. UBS Group upped their price target on shares of Commercial Metals from $48.00 to $56.00 and gave the stock a "neutral" rating in a report on Wednesday, August 13th. Wells Fargo & Company upgraded shares of Commercial Metals to a "strong-buy" rating in a report on Thursday, August 14th. Wall Street Zen upgraded shares of Commercial Metals from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. JPMorgan Chase & Co. upped their price target on shares of Commercial Metals from $52.00 to $54.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Finally, Morgan Stanley set a $57.50 price objective on Commercial Metals in a report on Wednesday, June 25th. 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 company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $58.81.

Commercial Metals Price Performance

Shares of CMC stock opened at $59.21 on Friday. Commercial Metals Company has a 1-year low of $37.92 and a 1-year high of $64.53. The stock's 50-day moving average is $54.13 and its 200 day moving average is $49.12. The company has a market cap of $6.63 billion, a P/E ratio of 191.00, a PEG ratio of 1.79 and a beta of 1.33. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.86 and a quick ratio of 2.00.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings data on Monday, June 23rd. The basic materials company reported $0.74 earnings per share 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 company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the business earned $1.02 EPS. Commercial Metals's revenue for the quarter was down 2.8% compared to the same quarter last year. Research analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

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

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.

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