IFP Advisors Inc Reduces Holdings in Commercial Metals Company $CMC

IFP Advisors Inc reduced its stake in shares of Commercial Metals Company (NYSE:CMC) by 25.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 45,565 shares of the basic materials company’s stock after selling 15,369 shares during the quarter. IFP Advisors Inc’s holdings in Commercial Metals were worth $2,614,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Root Financial Partners LLC purchased a new stake in Commercial Metals during the 3rd quarter worth about $25,000. Rothschild Investment LLC lifted its holdings in Commercial Metals by 169.6% in the 3rd quarter. Rothschild Investment LLC now owns 515 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 324 shares in the last quarter. Spire Wealth Management boosted its stake in shares of Commercial Metals by 42.4% during the 3rd quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 183 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of Commercial Metals during the 3rd quarter worth about $73,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Commercial Metals by 84.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,550 shares of the basic materials company’s stock worth $76,000 after buying an additional 708 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Trading Down 1.6%

CMC opened at $60.15 on Friday. The firm’s 50 day moving average is $73.91 and its 200-day moving average is $66.40. Commercial Metals Company has a 52-week low of $37.92 and a 52-week high of $84.87. The company has a quick ratio of 3.70, a current ratio of 4.47 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $6.67 billion, a P/E ratio of 15.50, a P/E/G ratio of 0.33 and a beta of 1.47.

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

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 19th were issued a $0.18 dividend. The ex-dividend date of this dividend was Friday, January 16th. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. Commercial Metals’s dividend payout ratio (DPR) is currently 18.56%.

Analyst Ratings Changes

A number of research analysts have weighed in on CMC shares. Wall Street Zen raised Commercial Metals from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 28th. Citigroup lifted their price objective on Commercial Metals from $65.00 to $85.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Morgan Stanley upped their target price on Commercial Metals from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, January 9th. Zacks Research lowered Commercial Metals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, Jefferies Financial Group set a $85.00 price target on Commercial Metals and gave the stock a “buy” rating in a research note on Thursday, January 8th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $72.80.

Insider Buying and Selling

In related news, Director Dennis V. Arriola bought 2,000 shares of the company’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 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 acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer J. Durbin sold 25,050 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $79.97, for a total transaction of $2,003,248.50. Following the transaction, the insider directly owned 52,880 shares of the company’s stock, valued at approximately $4,228,813.60. This trade represents a 32.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.62% of the company’s stock.

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.