Commercial Metals Company (NYSE:CMC) Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its stake in Commercial Metals Company by **34.7%** in the first quarter, leaving it with **11,194 shares** valued at approximately **$515,000**.
• Other institutional investors, such as Wealth Enhancement Advisory Services LLC and SG Americas Securities LLC, increased their respective holdings in Commercial Metals, with SG Americas Securities boosting its stake by an astounding **460.1%**.
• Despite recent challenges, including missing earnings estimates with **$0.74 EPS** compared to a forecast of **$0.85 EPS**, analysts maintain a consensus rating of **"Hold"** with a target price of **$57.50** for the stock.

US Bancorp DE lowered its position in Commercial Metals Company (NYSE:CMC - Free Report) by 34.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,194 shares of the basic materials company's stock after selling 5,943 shares during the quarter. US Bancorp DE's holdings in Commercial Metals were worth $515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings in shares of Commercial Metals by 4,372.6% during the first quarter. Pacer Advisors Inc. now owns 759,484 shares of the basic materials company's stock worth $34,944,000 after buying an additional 742,503 shares during the last quarter. Victory Capital Management Inc. lifted its position in Commercial Metals by 27.5% during the 1st quarter. Victory Capital Management Inc. now owns 3,089,313 shares of the basic materials company's stock worth $142,139,000 after acquiring an additional 666,886 shares during the period. Balyasny Asset Management L.P. grew its stake in shares of Commercial Metals by 15,350.0% in the 4th quarter. Balyasny Asset Management L.P. now owns 568,095 shares of the basic materials company's stock valued at $28,178,000 after purchasing an additional 564,418 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Commercial Metals by 34.1% in the fourth quarter. First Trust Advisors LP now owns 1,754,840 shares of the basic materials company's stock valued at $87,040,000 after purchasing an additional 446,317 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Commercial Metals by 10.2% during the fourth 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. Hedge funds and other institutional investors own 86.90% of the company's stock.

Commercial Metals Trading Down 1.3%

Shares of CMC traded down $0.74 during trading hours on Friday, hitting $56.40. The stock had a trading volume of 349,843 shares, compared to its average volume of 1,103,526. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $64.53. The firm has a market cap of $6.31 billion, a P/E ratio of 181.63, a P/E/G ratio of 2.69 and a beta of 1.28. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.00 and a current ratio of 2.86. The company's fifty day simple moving average is $51.53 and its 200 day simple moving average is $48.33.

Commercial Metals (NYSE:CMC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $2.02 billion during the quarter, compared to analyst estimates 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 was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.02 EPS. Equities research analysts forecast that Commercial Metals Company will post 3.09 EPS for the current fiscal year.

Commercial Metals Announces Dividend

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. The ex-dividend date was Monday, June 30th. This represents a $0.72 dividend on an annualized basis and a yield of 1.3%. Commercial Metals's payout ratio is currently 232.26%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group restated a "buy" rating on shares of Commercial Metals in a research report on Friday, June 20th. Wells Fargo & Company raised shares of Commercial Metals to a "strong-buy" rating in a report on Thursday. JPMorgan Chase & Co. raised their price objective on Commercial Metals from $52.00 to $54.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Morgan Stanley set a $57.50 price target on shares of Commercial Metals in a research note on Wednesday, June 25th. Finally, Wolfe Research raised shares of Commercial Metals from a "peer perform" rating to an "outperform" rating in a research note on Friday, June 20th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Commercial Metals currently has an average 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.