William Blair Investment Management LLC Sells 49,715 Shares of Commercial Metals Company $CMC

Key Points

• William Blair Investment Management LLC reduced its stake in Commercial Metals Company by 7.6%, selling 49,715 shares, and now holds 605,343 shares valued at approximately $29.6 million.
• Commercial Metals reported an earnings per share (EPS) of $1.37 in the most recent quarter, outperforming analysts' expectations and showing a revenue increase of 5.9% year-over-year.
• The company announced a quarterly dividend of $0.18 per share, which will be paid on November 13th, marking a total annualized dividend yield of 1.3%.

William Blair Investment Management LLC decreased its holdings in shares of Commercial Metals Company (NYSE:CMC - Free Report) by 7.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 605,343 shares of the basic materials company's stock after selling 49,715 shares during the period. William Blair Investment Management LLC owned 0.54% of Commercial Metals worth $29,607,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Isthmus Partners LLC raised its position in shares of Commercial Metals by 3.2% in the 1st quarter. Isthmus Partners LLC now owns 7,381 shares of the basic materials company's stock worth $340,000 after acquiring an additional 226 shares in the last quarter. Choreo LLC raised its position in shares of Commercial Metals by 2.1% in the 1st quarter. Choreo LLC now owns 11,015 shares of the basic materials company's stock worth $509,000 after acquiring an additional 228 shares in the last quarter. National Bank of Canada FI raised its position in shares of Commercial Metals by 80.3% in the 1st quarter. National Bank of Canada FI now owns 548 shares of the basic materials company's stock worth $25,000 after acquiring an additional 244 shares in the last quarter. Fulton Bank N.A. raised its position in shares of Commercial Metals by 3.2% in the 2nd quarter. Fulton Bank N.A. now owns 8,309 shares of the basic materials company's stock worth $406,000 after acquiring an additional 261 shares in the last quarter. Finally, Harbour Investments Inc. raised its position in shares of Commercial Metals by 17.5% in the 2nd quarter. Harbour Investments Inc. now owns 1,830 shares of the basic materials company's stock worth $90,000 after acquiring an additional 273 shares in the last quarter. Institutional investors own 86.90% of the company's stock.

Commercial Metals Stock Performance

Shares of CMC opened at $57.39 on Friday. The business's fifty day simple moving average is $57.86 and its two-hundred day simple moving average is $51.43. The company has a current ratio of 2.78, a quick ratio of 2.00 and a debt-to-equity ratio of 0.31. Commercial Metals Company has a 12 month low of $37.92 and a 12 month high of $64.53. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 75.51, a P/E/G ratio of 1.93 and a beta of 1.32.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its earnings results on Thursday, October 16th. The basic materials company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.32 by $0.05. Commercial Metals had a return on equity of 8.76% and a net margin of 1.09%.The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same period last year, the business posted $0.90 EPS. The company's revenue was up 5.9% compared to the same quarter last year. Research analysts anticipate that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, October 30th. Commercial Metals's dividend payout ratio (DPR) is currently 94.74%.

Analysts Set New Price Targets

CMC has been the subject of several research reports. Morgan Stanley set a $57.50 target price on Commercial Metals in a research report on Wednesday, June 25th. UBS Group upped their price target on Commercial Metals from $48.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 13th. Zacks Research upgraded Commercial Metals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 14th. Wall Street Zen upgraded Commercial Metals from a "hold" rating to a "buy" rating in a research note on Sunday, October 12th. Finally, Bank of America upped their price target on Commercial Metals from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $61.75.

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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