Vest Financial LLC Lowers Stake in Commercial Metals (NYSE:CMC)

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

Several other institutional investors have also modified their holdings of CMC. Park Square Financial Group LLC acquired a new stake in Commercial Metals during the 4th quarter worth $33,000. Heck Capital Advisors LLC acquired a new position in Commercial Metals in the 4th quarter valued at about $34,000. V Square Quantitative Management LLC grew its position in Commercial Metals by 60.7% in the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company's stock worth $35,000 after acquiring an additional 267 shares during the period. South Plains Financial Inc. purchased a new position in shares of Commercial Metals during the 4th quarter worth $73,000. Finally, Jones Financial Companies Lllp increased its position in shares of Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company's stock valued at $82,000 after acquiring an additional 297 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Insider Buying and Selling

In other Commercial Metals news, Director John R. Mcpherson acquired 2,475 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average cost of $40.42 per share, with a total value of $100,039.50. Following the acquisition, the director now directly owns 15,141 shares of the company's stock, valued at $611,999.22. This represents a 19.54% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CMC shares. JPMorgan Chase & Co. assumed coverage on Commercial Metals in a research note on Friday, May 30th. They issued a "neutral" rating and a $52.00 price objective for the company. BMO Capital Markets lowered their price target on shares of Commercial Metals from $58.00 to $54.00 and set a "market perform" rating for the company in a report on Friday, March 21st. Wolfe Research upgraded Commercial Metals from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a report on Tuesday, May 27th. UBS Group dropped 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 report on Monday, March 24th. Finally, Morgan Stanley dropped their price target on 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 four have assigned a buy rating to the company. According to data from MarketBeat.com, Commercial Metals presently has a consensus rating of "Hold" and a consensus target price of $58.00.

Commercial Metals Stock Performance

Shares of NYSE:CMC opened at $49.98 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.76. Commercial Metals has a one year low of $37.92 and a one year high of $64.53. The business's 50-day simple moving average is $45.14 and its 200 day simple moving average is $49.16. The company has a market cap of $5.65 billion, a P/E ratio of 45.03, a PEG ratio of 2.62 and a beta of 1.27.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.73 billion. Commercial Metals had a net margin of 1.70% and a return on equity of 9.88%. Commercial Metals's revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 EPS. On average, sell-side analysts forecast that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 1.44%. Commercial Metals's payout ratio is 120.00%.

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.

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