HighTower Advisors LLC Sells 11,143 Shares of Commercial Metals Company $CMC

HighTower Advisors LLC lessened its holdings in shares of Commercial Metals Company (NYSE:CMC) by 21.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,028 shares of the basic materials company’s stock after selling 11,143 shares during the period. HighTower Advisors LLC’s holdings in Commercial Metals were worth $2,350,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Royal Bank of Canada boosted its holdings in shares of Commercial Metals by 1.4% in the first quarter. Royal Bank of Canada now owns 90,989 shares of the basic materials company’s stock valued at $4,186,000 after buying an additional 1,219 shares during the period. Amundi lifted its position in Commercial Metals by 13.3% in the 1st quarter. Amundi now owns 2,480 shares of the basic materials company’s stock valued at $114,000 after acquiring an additional 291 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in Commercial Metals by 614.9% in the 1st quarter. Jones Financial Companies Lllp now owns 11,767 shares of the basic materials company’s stock worth $541,000 after purchasing an additional 10,121 shares during the period. Goldman Sachs Group Inc. increased its holdings in Commercial Metals by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,033,514 shares of the basic materials company’s stock worth $47,552,000 after purchasing an additional 56,875 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of Commercial Metals by 1.8% in the 1st quarter. Empowered Funds LLC now owns 53,305 shares of the basic materials company’s stock valued at $2,453,000 after purchasing an additional 941 shares during the period. 86.90% of the stock is owned by institutional investors.

Commercial Metals Trading Down 2.3%

Shares of Commercial Metals stock opened at $73.22 on Friday. The stock has a market cap of $8.12 billion, a P/E ratio of 18.87, a P/E/G ratio of 0.40 and a beta of 1.49. The company has a quick ratio of 3.70, a current ratio of 4.47 and a debt-to-equity ratio of 0.77. Commercial Metals Company has a 12-month low of $37.92 and a 12-month high of $84.87. The business’s 50 day moving average is $75.73 and its 200-day moving average is $65.58.

Commercial Metals (NYSE:CMC) last issued its earnings results on Thursday, January 8th. The basic materials company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.29. Commercial Metals had a net margin of 5.46% and a return on equity of 11.43%. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the previous year, the company earned $0.78 earnings per share. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities research analysts predict that Commercial Metals Company will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Investors of record on Monday, January 19th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. Commercial Metals’s dividend payout ratio (DPR) is presently 18.56%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Commercial Metals from $68.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, January 9th. Citigroup boosted their target price on Commercial Metals from $65.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, January 12th. JPMorgan Chase & Co. raised shares of Commercial Metals from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $64.00 to $78.00 in a research note on Friday, December 5th. Wall Street Zen upgraded shares of Commercial Metals from a “buy” rating to a “strong-buy” rating in a report on Friday, November 28th. Finally, Wells Fargo & Company increased their target price on shares of Commercial Metals from $68.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $72.70.

Insider Buying and Selling

In other Commercial Metals news, Director Dennis V. Arriola acquired 2,000 shares of the company’s stock in a transaction on Tuesday, January 20th. The shares were purchased at an average price of $74.69 per share, for a total transaction of $149,380.00. Following the completion of the purchase, the director directly owned 9,238 shares of the company’s stock, valued at approximately $689,986.22. This represents a 27.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer J. Durbin sold 25,050 shares of Commercial Metals stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $79.97, for a total value of $2,003,248.50. Following the transaction, the insider owned 52,880 shares of the company’s stock, valued at $4,228,813.60. This represents a 32.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.62% of the stock is owned by insiders.

About Commercial Metals

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.