AlphaCrest Capital Management LLC Sells 7,791 Shares of Commercial Metals (NYSE:CMC)

AlphaCrest Capital Management LLC lessened its position in Commercial Metals (NYSE:CMC – Get Rating) by 29.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,387 shares of the basic materials company’s stock after selling 7,791 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Commercial Metals were worth $652,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Commercial Metals by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 13,226,374 shares of the basic materials company’s stock valued at $550,481,000 after buying an additional 142,062 shares in the last quarter. FMR LLC lifted its holdings in Commercial Metals by 5.1% during the 2nd quarter. FMR LLC now owns 10,124,695 shares of the basic materials company’s stock valued at $335,128,000 after buying an additional 493,455 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Commercial Metals by 1.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 7,645,358 shares of the basic materials company’s stock valued at $271,260,000 after buying an additional 140,355 shares in the last quarter. State Street Corp lifted its holdings in Commercial Metals by 22.3% during the 1st quarter. State Street Corp now owns 7,494,116 shares of the basic materials company’s stock valued at $312,971,000 after buying an additional 1,367,997 shares in the last quarter. Finally, Berkley W R Corp lifted its holdings in Commercial Metals by 14.4% during the 2nd quarter. Berkley W R Corp now owns 2,869,104 shares of the basic materials company’s stock valued at $94,967,000 after buying an additional 361,600 shares in the last quarter. Institutional investors own 84.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CMC shares. BMO Capital Markets lifted their price objective on shares of Commercial Metals from $49.00 to $56.00 and gave the company a “market perform” rating in a report on Tuesday, January 10th. Citigroup boosted their price target on shares of Commercial Metals from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday, February 15th. Bank of America started coverage on shares of Commercial Metals in a report on Wednesday, January 4th. They issued a “neutral” rating and a $55.00 price target for the company. StockNews.com lowered shares of Commercial Metals from a “buy” rating to a “hold” rating in a report on Wednesday, February 22nd. Finally, The Goldman Sachs Group boosted their price target on shares of Commercial Metals from $48.00 to $53.00 and gave the company a “neutral” rating in a report on Tuesday, January 10th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Commercial Metals currently has a consensus rating of “Hold” and an average price target of $52.86.

Insider Transactions at Commercial Metals

In other Commercial Metals news, CEO Barbara Smith sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $48.11, for a total transaction of $7,216,500.00. Following the sale, the chief executive officer now owns 227,651 shares of the company’s stock, valued at approximately $10,952,289.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Commercial Metals Stock Up 1.5 %

Shares of Commercial Metals stock opened at $52.35 on Thursday. The firm’s 50 day moving average price is $53.63 and its 200-day moving average price is $47.18. The company has a quick ratio of 1.97, a current ratio of 2.99 and a debt-to-equity ratio of 0.30. Commercial Metals has a 52-week low of $31.47 and a 52-week high of $58.09. The company has a market cap of $6.14 billion, a P/E ratio of 5.10 and a beta of 1.31.

Commercial Metals (NYSE:CMC – Get Rating) last issued its quarterly earnings data on Monday, January 9th. The basic materials company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.25. Commercial Metals had a net margin of 13.61% and a return on equity of 33.19%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.16 billion. On average, sell-side analysts predict that Commercial Metals will post 7.64 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 2nd. Stockholders of record on Thursday, January 19th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Wednesday, January 18th. Commercial Metals’s payout ratio is currently 6.24%.

Commercial Metals Company Profile

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Commercial Metals Co engages in the manufacture, recycling, and marketing of steel and metal products. It operates through the following segments: North America and Europe. The North America segment is a vertically integrated network of recycling facilities, steel mills and fabrication operations. The Europe segment is a vertically integrated network of recycling facilities, an EAF mini mill and fabrication operations located in Poland.