Allspring Global Investments Holdings LLC Has $633,000 Position in Commercial Metals (NYSE:CMC)

Allspring Global Investments Holdings LLC cut its position in Commercial Metals (NYSE:CMC - Free Report) by 58.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 12,647 shares of the basic materials company's stock after selling 17,551 shares during the period. Allspring Global Investments Holdings LLC's holdings in Commercial Metals were worth $633,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisors Preferred LLC grew its position in Commercial Metals by 114.0% in the 4th quarter. Advisors Preferred LLC now owns 60,810 shares of the basic materials company's stock worth $3,051,000 after purchasing an additional 32,393 shares during the period. Raymond James & Associates grew its holdings in shares of Commercial Metals by 23.5% in the fourth quarter. Raymond James & Associates now owns 118,904 shares of the basic materials company's stock worth $5,950,000 after acquiring an additional 22,619 shares during the period. DekaBank Deutsche Girozentrale increased its position in Commercial Metals by 270.1% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 137,240 shares of the basic materials company's stock valued at $6,918,000 after acquiring an additional 100,160 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its holdings in Commercial Metals by 91.3% in the third quarter. Schonfeld Strategic Advisors LLC now owns 91,634 shares of the basic materials company's stock valued at $4,528,000 after acquiring an additional 43,734 shares during the period. Finally, Pinkerton Retirement Specialists LLC purchased a new position in Commercial Metals in the third quarter worth about $690,000. Institutional investors own 86.90% of the company's stock.

Commercial Metals Price Performance

CMC remained flat at $53.70 during trading on Thursday. The company had a trading volume of 763,100 shares, compared to its average volume of 983,016. The company has a current ratio of 4.19, a quick ratio of 2.69 and a debt-to-equity ratio of 0.27. The business's 50 day moving average is $55.45 and its 200 day moving average is $50.28. The company has a market capitalization of $6.21 billion, a PE ratio of 9.32 and a beta of 1.33. Commercial Metals has a 12 month low of $39.85 and a 12 month high of $59.81.

Commercial Metals (NYSE:CMC - Get Free Report) last issued its earnings results on Thursday, March 21st. The basic materials company reported $0.88 EPS for the quarter, missing analysts' consensus estimates of $0.93 by ($0.05). The company had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.80 billion. Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The business's revenue was down 8.4% compared to the same quarter last year. During the same period last year, the business posted $1.44 earnings per share. As a group, equities research analysts expect that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.34%. This is a positive change from Commercial Metals's previous quarterly dividend of $0.16. The ex-dividend date was Thursday, March 28th. Commercial Metals's dividend payout ratio is presently 12.50%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. BMO Capital Markets boosted their target price on shares of Commercial Metals from $52.00 to $60.00 and gave the company a "market perform" rating in a research report on Friday, March 22nd. StockNews.com lowered Commercial Metals from a "buy" rating to a "hold" rating in a research note on Thursday, April 18th. Finally, UBS Group assumed coverage on Commercial Metals in a report on Tuesday, January 16th. They set a "buy" rating and a $65.00 price target for the company.

Insider Activity

In other Commercial Metals news, CAO Lindsay L. Sloan sold 600 shares of the firm's stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $51.52, for a total value of $30,912.00. Following the completion of the sale, the chief accounting officer now directly owns 12,338 shares in the company, valued at $635,653.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Chairman Barbara Smith sold 60,166 shares of the company's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $51.28, for a total value of $3,085,312.48. Following the sale, the chairman now directly owns 96,019 shares of the company's stock, valued at approximately $4,923,854.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lindsay L. Sloan sold 600 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $51.52, for a total value of $30,912.00. Following the sale, the chief accounting officer now directly owns 12,338 shares in the company, valued at $635,653.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,089 shares of company stock worth $6,402,693. Corporate insiders own 1.00% of the company's stock.

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.