Commercial Metals (NYSE:CMC) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its position in shares of Commercial Metals (NYSE:CMC) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 244,177 shares of the basic materials company’s stock after selling 7,820 shares during the quarter. Alliancebernstein L.P.’s holdings in Commercial Metals were worth $12,111,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new position in shares of Commercial Metals in the 4th quarter valued at about $34,000. V Square Quantitative Management LLC lifted its holdings in shares of Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock valued at $35,000 after buying an additional 267 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Commercial Metals by 22.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock valued at $82,000 after buying an additional 297 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Commercial Metals in the 4th quarter valued at about $105,000. Finally, Amundi lifted its holdings in shares of Commercial Metals by 29.9% in the 4th quarter. Amundi now owns 2,189 shares of the basic materials company’s stock valued at $108,000 after buying an additional 504 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Price Performance

Shares of Commercial Metals stock opened at $43.88 on Thursday. Commercial Metals has a twelve month low of $37.92 and a twelve month high of $64.53. The business has a 50-day moving average price of $47.25 and a 200 day moving average price of $52.06. The company has a quick ratio of 1.94, a current ratio of 2.76 and a debt-to-equity ratio of 0.29. The firm has a market cap of $4.96 billion, a PE ratio of 39.53, a P/E/G ratio of 2.62 and a beta of 1.16.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, March 20th. The basic materials company reported $0.26 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 last year, the firm posted $0.88 earnings per share. Commercial Metals’s quarterly revenue was down 5.1% on a year-over-year basis. Sell-side analysts predict that Commercial Metals will post 3.09 earnings per share for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were paid a dividend of $0.18 per share. The ex-dividend date was Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 1.64%. Commercial Metals’s dividend payout ratio (DPR) is currently 120.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CMC shares. Jefferies Financial Group decreased their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating for the company in a report on Monday, January 6th. UBS Group decreased their price objective on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, March 24th. BNP Paribas lowered Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Morgan Stanley cut their price target on 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, BMO Capital Markets cut their price target on Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a research note on Friday, March 21st. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $60.33.

Insiders Place Their Bets

In related news, Director John R. Mcpherson purchased 2,475 shares of the company’s stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the completion of the transaction, the director now directly owns 15,141 shares of the company’s stock, valued at approximately $611,999.22. This trade represents a 19.54 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is owned by company insiders.

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.