Wells Fargo & Company MN Sells 12,607 Shares of Commercial Metals (NYSE:CMC)

Wells Fargo & Company MN lessened its holdings in Commercial Metals (NYSE:CMC) by 5.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 208,021 shares of the basic materials company’s stock after selling 12,607 shares during the period. Wells Fargo & Company MN owned 0.18% of Commercial Metals worth $10,318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Heck Capital Advisors LLC acquired a new stake in shares of Commercial Metals during the 4th quarter worth about $34,000. V Square Quantitative Management LLC raised its holdings in 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 acquiring an additional 267 shares during the period. Jones Financial Companies Lllp lifted its position in Commercial Metals by 22.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,646 shares of the basic materials company’s stock worth $82,000 after acquiring an additional 297 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Commercial Metals during the fourth quarter worth approximately $105,000. Finally, Amundi grew its position in shares of Commercial Metals by 29.9% in the fourth quarter. Amundi now owns 2,189 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 504 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Transactions at Commercial Metals

In related news, Director John R. Mcpherson purchased 2,475 shares of Commercial Metals stock in a transaction dated Friday, April 4th. The shares were bought at an average cost of $40.42 per share, for a total transaction of $100,039.50. Following the purchase, the director now owns 15,141 shares in the company, valued at approximately $611,999.22. This trade represents a 19.54 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.46% of the stock is owned by insiders.

Commercial Metals Trading Up 0.2 %

CMC opened at $41.78 on Thursday. 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 twelve month low of $37.92 and a twelve month high of $64.53. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 37.64, a P/E/G ratio of 2.62 and a beta of 1.16. The company has a 50-day simple moving average of $46.55 and a 200 day simple moving average of $51.64.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.73 billion. During the same period last year, the company posted $0.88 EPS. The business’s revenue was down 5.1% on a year-over-year basis. Analysts predict that Commercial Metals will post 3.09 EPS for the current fiscal year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Monday, March 31st were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.72%. Commercial Metals’s payout ratio is 120.00%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Jefferies Financial Group dropped their price target 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 dropped their target price on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Morgan Stanley decreased their price target on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, March 7th. BMO Capital Markets dropped their price objective on shares of 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. Finally, BNP Paribas downgraded shares of Commercial Metals from an “outperform” rating to a “neutral” rating in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Commercial Metals currently has an average 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.