Commercial Metals Company $CMC Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

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. decreased its stake in Commercial Metals Company (NYSE:CMC - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 822,269 shares of the basic materials company's stock after selling 42,275 shares during the period. 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.

Other large investors also recently bought and sold shares of the company. Isthmus Partners LLC lifted its position 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 purchasing an additional 226 shares in the last quarter. Choreo LLC boosted its holdings in shares of Commercial Metals by 2.1% during the first quarter. Choreo LLC now owns 11,015 shares of the basic materials company's stock valued at $509,000 after acquiring an additional 228 shares during the period. National Bank of Canada FI boosted its holdings in shares of Commercial Metals by 80.3% during the first 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. UMB Bank n.a. boosted its holdings 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 acquiring an additional 268 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in Commercial Metals by 21.2% in the first quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company's stock worth $73,000 after purchasing an additional 279 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. UBS Group upped their target price on Commercial Metals from $48.00 to $56.00 and gave the company a "neutral" rating in a report on Wednesday, August 13th. Wolfe Research raised Commercial Metals from a "peer perform" rating to an "outperform" rating in a research report on Friday, June 20th. 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 note on Monday, July 14th. Wells Fargo & Company upgraded Commercial Metals to a "strong-buy" rating in a research note on Thursday, August 14th. Finally, Jefferies Financial Group reiterated a "buy" rating on shares of Commercial Metals in a report on Friday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $58.81.

Commercial Metals Stock Down 1.6%

CMC traded down $0.93 during trading on Friday, hitting $58.34. 225,935 shares of the company's stock traded hands, compared to its average volume of 1,079,835. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 188.09, a PEG ratio of 1.76 and a beta of 1.33. 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. The company's 50 day simple moving average is $54.77 and its two-hundred day simple moving average is $49.37.

Commercial Metals (NYSE:CMC - Get Free Report) last announced 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). The company had revenue of $2.02 billion during 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%.Commercial Metals's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.02 earnings per share. Analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Monday, June 30th were given a dividend of $0.18 per share. 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 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.