Intech Investment Management LLC Sells 15,941 Shares of Commercial Metals Company $CMC

Intech Investment Management LLC trimmed its position in shares of Commercial Metals Company (NYSE:CMC) by 24.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,362 shares of the basic materials company’s stock after selling 15,941 shares during the period. Intech Investment Management LLC’s holdings in Commercial Metals were worth $2,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CMC. State Street Corp raised its stake in Commercial Metals by 1.2% during the second quarter. State Street Corp now owns 6,109,178 shares of the basic materials company’s stock valued at $299,898,000 after purchasing an additional 71,703 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Commercial Metals by 10.0% in the 2nd quarter. Franklin Resources Inc. now owns 3,193,930 shares of the basic materials company’s stock worth $156,215,000 after buying an additional 290,256 shares during the last quarter. American Century Companies Inc. raised its position in shares of Commercial Metals by 7.8% during the 2nd quarter. American Century Companies Inc. now owns 1,711,656 shares of the basic materials company’s stock valued at $83,717,000 after buying an additional 124,397 shares in the last quarter. Invesco Ltd. raised its position in shares of Commercial Metals by 1.1% during the 2nd quarter. Invesco Ltd. now owns 1,584,662 shares of the basic materials company’s stock valued at $77,506,000 after buying an additional 16,641 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Commercial Metals in the 2nd quarter valued at about $70,402,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Commercial Metals Price Performance

CMC opened at $73.60 on Tuesday. The business has a fifty day moving average of $75.79 and a 200 day moving average of $65.81. The stock has a market cap of $8.16 billion, a P/E ratio of 18.97, a PEG ratio of 0.39 and a beta of 1.47. 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 52-week low of $37.92 and a 52-week high of $84.87.

Commercial Metals (NYSE:CMC) last released its earnings results on Thursday, January 8th. The basic materials company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.29. The business had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.06 billion. Commercial Metals had a return on equity of 11.43% and a net margin of 5.46%.The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share. As a group, sell-side analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 19th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, January 16th. Commercial Metals’s payout ratio is 18.56%.

Analyst Ratings Changes

A number of brokerages have issued reports on CMC. Wells Fargo & Company upped their price objective on Commercial Metals from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday. Weiss Ratings reissued a “hold (c)” rating on shares of Commercial Metals in a research report on Wednesday, January 21st. The Goldman Sachs Group restated a “buy” rating and issued a $84.00 price target on shares of Commercial Metals in a research report on Tuesday, December 30th. Morgan Stanley lifted their price objective on shares of Commercial Metals from $68.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, January 9th. Finally, Jefferies Financial Group set a $85.00 target price on shares of Commercial Metals and gave the company a “buy” rating in a research note on Thursday, January 8th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $72.80.

Insider Transactions at Commercial Metals

In related news, insider Jennifer J. Durbin sold 25,050 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis V. Arriola bought 2,000 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were purchased at an average cost of $74.69 per share, with a total value of $149,380.00. Following the completion of the transaction, the director owned 9,238 shares in the company, valued at $689,986.22. This represents a 27.63% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.62% of the stock is owned by corporate insiders.

Commercial Metals Profile

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.