Securian Asset Management Inc. Has $427,000 Stake in Commercial Metals (NYSE:CMC)

Securian Asset Management Inc. lowered its stake in Commercial Metals (NYSE:CMC) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,611 shares of the basic materials company’s stock after selling 330 shares during the period. Securian Asset Management Inc.’s holdings in Commercial Metals were worth $427,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Atria Investments Inc acquired a new stake in shares of Commercial Metals in the 3rd quarter valued at $290,000. KBC Group NV increased its position in Commercial Metals by 15.9% in the third quarter. KBC Group NV now owns 3,099 shares of the basic materials company’s stock worth $170,000 after purchasing an additional 425 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Commercial Metals in the third quarter worth about $1,008,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Commercial Metals during the 3rd quarter worth about $5,662,000. Finally, Moran Wealth Management LLC lifted its position in Commercial Metals by 336.7% during the 3rd quarter. Moran Wealth Management LLC now owns 60,372 shares of the basic materials company’s stock valued at $3,318,000 after purchasing an additional 46,547 shares during the period. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

CMC has been the subject of a number of recent research reports. Morgan Stanley dropped their price target on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, March 7th. Jefferies Financial Group cut their price target on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. The Goldman Sachs Group assumed coverage on Commercial Metals in a research note on Monday, December 2nd. They issued a “buy” rating and a $75.00 target price on the stock. Finally, UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $56.00 to $54.00 in a research report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Commercial Metals presently has a consensus rating of “Hold” and a consensus price target of $61.83.

Commercial Metals Stock Down 0.4 %

NYSE:CMC opened at $46.14 on Tuesday. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 41.56, a PEG ratio of 2.62 and a beta of 1.17. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average price of $48.94 and a two-hundred day moving average price of $52.90. Commercial Metals has a 1 year low of $42.62 and a 1 year high of $64.53.

Commercial Metals (NYSE:CMC) last posted its earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.78. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. Commercial Metals’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.49 EPS. As a group, equities analysts expect that Commercial Metals will post 3.09 earnings per share for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 30th. Investors of record on Thursday, January 16th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, January 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.56%. Commercial Metals’s payout ratio is 64.86%.

Commercial Metals 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.