Commercial Metals (NYSE:CMC) Stock Position Lessened by TD Private Client Wealth LLC

TD Private Client Wealth LLC trimmed its holdings in shares of Commercial Metals (NYSE:CMC) by 10.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,312 shares of the basic materials company’s stock after selling 596 shares during the period. TD Private Client Wealth LLC’s holdings in Commercial Metals were worth $263,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Ashton Thomas Private Wealth LLC increased its stake in Commercial Metals by 5.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 4,528 shares of the basic materials company’s stock valued at $225,000 after buying an additional 229 shares during the period. Truist Financial Corp increased its stake in shares of Commercial Metals by 3.5% during the fourth quarter. Truist Financial Corp now owns 7,150 shares of the basic materials company’s stock valued at $355,000 after acquiring an additional 242 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Commercial Metals by 10.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock worth $138,000 after purchasing an additional 254 shares in the last quarter. Arizona State Retirement System lifted its position in Commercial Metals by 0.8% in the fourth quarter. Arizona State Retirement System now owns 33,373 shares of the basic materials company’s stock worth $1,655,000 after purchasing an additional 262 shares during the period. Finally, V Square Quantitative Management LLC lifted its position in Commercial Metals by 60.7% in the fourth quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 267 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Up 4.9 %

CMC stock opened at $48.89 on Tuesday. The company has a 50 day moving average of $48.87 and a two-hundred day moving average of $52.74. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. Commercial Metals has a 12-month low of $42.62 and a 12-month high of $64.53. The company has a market cap of $5.56 billion, a price-to-earnings ratio of 44.04, a PEG ratio of 2.62 and a beta of 1.17.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the business posted $0.88 earnings per share. Commercial Metals’s revenue was down 5.1% on a year-over-year basis. On average, equities analysts anticipate that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Monday, March 31st will be paid a $0.18 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.47%. Commercial Metals’s payout ratio is 120.00%.

Analyst Ratings Changes

CMC has been the topic of a number of research reports. Jefferies Financial Group dropped their price objective 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. UBS Group cut their price target on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a report on Monday. BMO Capital Markets lowered their price objective on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research note on Friday. Morgan Stanley cut their target price 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. Finally, BNP Paribas lowered shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a research report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Commercial Metals currently has a consensus rating of “Hold” and an average target price of $60.33.

About Commercial Metals

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.