Commercial Metals (NYSE:CMC) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in shares of Commercial Metals (NYSE:CMCFree Report) by 60.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,283 shares of the basic materials company’s stock after selling 60,347 shares during the quarter. Hsbc Holdings PLC’s holdings in Commercial Metals were worth $1,970,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Daiwa Securities Group Inc. bought a new position in Commercial Metals in the 4th quarter worth about $30,000. Headlands Technologies LLC acquired a new stake in shares of Commercial Metals in the 3rd quarter worth approximately $51,000. Planned Solutions Inc. bought a new position in shares of Commercial Metals in the fourth quarter valued at approximately $73,000. GAMMA Investing LLC acquired a new position in shares of Commercial Metals during the fourth quarter valued at approximately $74,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in Commercial Metals during the fourth quarter worth approximately $107,000. Institutional investors own 86.90% of the company’s stock.

Insider Activity at Commercial Metals

In other Commercial Metals news, Chairman Barbara Smith sold 35,704 shares of Commercial Metals stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $57.88, for a total transaction of $2,066,547.52. Following the transaction, the chairman now directly owns 36,196 shares in the company, valued at approximately $2,095,024.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. StockNews.com lowered Commercial Metals from a “buy” rating to a “hold” rating in a report on Monday, June 3rd.

View Our Latest Report on CMC

Commercial Metals Price Performance

Shares of NYSE:CMC opened at $52.38 on Friday. The company has a market capitalization of $6.06 billion, a PE ratio of 9.09 and a beta of 1.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.69 and a current ratio of 4.19. The stock has a fifty day moving average of $56.04 and a 200-day moving average of $52.75. Commercial Metals has a one year low of $39.85 and a one year high of $59.81.

Commercial Metals (NYSE:CMCGet Free Report) last announced its earnings results on Thursday, March 21st. The basic materials company reported $0.88 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.05). The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. The company’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.44 earnings per share. As a group, equities analysts anticipate that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Monday, April 1st were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.37%. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.16. Commercial Metals’s payout ratio is currently 12.50%.

About Commercial Metals

(Free Report)

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.

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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