Vest Financial LLC Sells 5,454 Shares of Commercial Metals (NYSE:CMC)

Vest Financial LLC lessened its holdings in Commercial Metals (NYSE:CMC - Free Report) by 11.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,077 shares of the basic materials company's stock after selling 5,454 shares during the quarter. Vest Financial LLC's holdings in Commercial Metals were worth $1,982,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CMC. Fulton Bank N.A. boosted its stake in Commercial Metals by 5.4% in the first quarter. Fulton Bank N.A. now owns 8,048 shares of the basic materials company's stock valued at $370,000 after acquiring an additional 413 shares during the last quarter. NBC Securities Inc. lifted its stake in shares of Commercial Metals by 93,700.0% in the 1st quarter. NBC Securities Inc. now owns 4,690 shares of the basic materials company's stock valued at $215,000 after purchasing an additional 4,685 shares during the period. Green Alpha Advisors LLC boosted its position in shares of Commercial Metals by 3.0% in the 1st quarter. Green Alpha Advisors LLC now owns 20,287 shares of the basic materials company's stock worth $933,000 after purchasing an additional 587 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Commercial Metals by 22.0% in the 1st quarter. Parallel Advisors LLC now owns 2,312 shares of the basic materials company's stock worth $106,000 after purchasing an additional 417 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Commercial Metals by 5,679.9% during the first quarter. GAMMA Investing LLC now owns 150,913 shares of the basic materials company's stock worth $6,944,000 after purchasing an additional 148,302 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Commercial Metals Stock Down 4.0%

Shares of CMC stock traded down $2.01 during trading hours on Wednesday, hitting $48.66. 887,602 shares of the company were exchanged, compared to its average volume of 976,413. The company has a market capitalization of $5.50 billion, a PE ratio of 43.80, a PEG ratio of 2.62 and a beta of 1.27. Commercial Metals has a 52 week low of $37.92 and a 52 week high of $64.53. The business has a 50 day moving average of $45.39 and a two-hundred day moving average of $49.02. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29.

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

Commercial Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Monday, March 31st were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Monday, March 31st. Commercial Metals's dividend payout ratio is presently 120.00%.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson purchased 2,475 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was bought at an average cost of $40.42 per share, with a total value of $100,039.50. Following the purchase, the director now directly owns 15,141 shares of the company's stock, valued at $611,999.22. The trade was a 19.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CMC shares. JPMorgan Chase & Co. assumed coverage on Commercial Metals in a report on Friday, May 30th. They set a "neutral" rating and a $52.00 target price on the stock. UBS Group reduced their price objective 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 for the company in a research note on Friday, March 21st. Wolfe Research upgraded shares of Commercial Metals from a "peer perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a report on Tuesday, May 27th. Finally, Morgan Stanley decreased their price target on shares of Commercial Metals from $56.00 to $53.00 and set an "equal weight" rating for the company in a report on Friday, March 7th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Commercial Metals currently has a consensus rating of "Hold" and an average price target of $58.00.

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.