Yousif Capital Management LLC Reduces Position in Commercial Metals (NYSE:CMC)

Yousif Capital Management LLC trimmed its position in Commercial Metals (NYSE:CMC) by 1.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,650 shares of the basic materials company’s stock after selling 798 shares during the quarter. Yousif Capital Management LLC’s holdings in Commercial Metals were worth $1,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC boosted 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 purchasing an additional 229 shares in the last quarter. Mariner LLC boosted its stake in shares of Commercial Metals by 0.9% during the 4th quarter. Mariner LLC now owns 24,735 shares of the basic materials company’s stock worth $1,227,000 after acquiring an additional 232 shares in the last quarter. Truist Financial Corp raised its stake in shares of Commercial Metals by 3.5% in the 4th 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 in the last quarter. Arizona State Retirement System lifted its holdings in Commercial Metals by 0.8% in the 4th 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 last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in Commercial Metals by 60.7% during the fourth 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. Institutional investors and hedge funds own 86.90% of the company’s stock.

Commercial Metals Stock Performance

Commercial Metals stock opened at $48.36 on Monday. The firm has a market cap of $5.46 billion, a P/E ratio of 43.57, a P/E/G ratio of 2.62 and a beta of 1.27. Commercial Metals has a 1-year low of $37.92 and a 1-year high of $64.53. The firm has a 50-day moving average of $45.89 and a 200-day moving average of $48.65. The company has a current ratio of 2.76, a quick ratio of 1.94 and a debt-to-equity ratio of 0.29.

Commercial Metals (NYSE:CMC) last released its earnings results 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 net margin of 1.70% and a return on equity of 9.88%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the business posted $0.88 earnings per share. Commercial Metals’s revenue for the quarter was down 5.1% on a year-over-year basis. Sell-side analysts expect that Commercial Metals will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Monday, March 31st were paid a $0.18 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.72 annualized dividend and a yield of 1.49%. Commercial Metals’s payout ratio is 120.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CMC shares. JPMorgan Chase & Co. started coverage on Commercial Metals in a research report on Friday, May 30th. They issued a “neutral” rating and a $52.00 target price for the company. UBS Group reduced their target price on Commercial Metals from $54.00 to $49.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. BMO Capital Markets decreased their price target on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating for the company in a report on Friday, March 21st. Wolfe Research upgraded Commercial Metals from a “peer perform” rating to an “outperform” rating and set a $50.00 target price for the company in a report on Tuesday, May 27th. Finally, Morgan Stanley reduced 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 report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Commercial Metals presently has a consensus rating of “Hold” and an average target price of $58.00.

Insider Buying and Selling at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson purchased 2,475 shares of the stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $40.42 per share, with a total value of $100,039.50. Following the transaction, the director now 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company’s stock.

Commercial Metals Company Profile

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.