Commercial Metals Company (NYSE:CMC) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC reduced its position in Commercial Metals Company (NYSE:CMC) by 7.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,112 shares of the basic materials company’s stock after selling 467 shares during the period. Farther Finance Advisors LLC’s holdings in Commercial Metals were worth $287,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CMC. Wedge Capital Management L L P NC increased its stake in shares of Commercial Metals by 15.9% in the first quarter. Wedge Capital Management L L P NC now owns 178,616 shares of the basic materials company’s stock valued at $8,218,000 after purchasing an additional 24,510 shares during the period. UMB Bank n.a. grew its position in Commercial Metals by 51.9% during the 1st quarter. UMB Bank n.a. now owns 784 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 268 shares in the last quarter. Sovereign Financial Group Inc. grew its position in Commercial Metals by 13.7% during the 1st quarter. Sovereign Financial Group Inc. now owns 11,490 shares of the basic materials company’s stock worth $529,000 after purchasing an additional 1,385 shares in the last quarter. Curat Global LLC purchased a new position in shares of Commercial Metals during the 1st quarter valued at $175,000. Finally, Fulton Bank N.A. grew its holdings in shares of Commercial Metals by 5.4% during the 1st quarter. Fulton Bank N.A. now owns 8,048 shares of the basic materials company’s stock valued at $370,000 after acquiring an additional 413 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Commercial Metals Stock Up 1.1%

Shares of CMC opened at $48.96 on Wednesday. Commercial Metals Company has a 52 week low of $37.92 and a 52 week high of $64.53. The firm has a market cap of $5.53 billion, a P/E ratio of 81.60, a price-to-earnings-growth ratio of 2.77 and a beta of 1.27. The firm’s 50-day simple moving average is $46.18 and its 200 day simple moving average is $48.56. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.94 and a current ratio of 2.82.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Thursday, March 20th. The basic materials company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Commercial Metals had a net margin of 0.94% and a return on equity of 8.23%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the company posted $0.88 EPS. The firm’s quarterly revenue was down 5.1% on a year-over-year basis. On average, analysts forecast that Commercial Metals Company will post 3.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on CMC. UBS Group cut their target price on shares of Commercial Metals from $54.00 to $49.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Morgan Stanley reduced their target price on shares of Commercial Metals from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, March 7th. BMO Capital Markets reduced their price target on shares of Commercial Metals from $58.00 to $54.00 and set a “market perform” rating on the stock in a research report on Friday, March 21st. Wolfe Research raised shares of Commercial Metals from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. began coverage on shares of Commercial Metals in a research note on Friday, May 30th. They issued a “neutral” rating and a $52.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.00.

Insiders Place Their Bets

In other news, Director John R. Mcpherson purchased 2,475 shares of Commercial Metals stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average price of $40.42 per share, for a total transaction 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. The trade was a 19.54% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.46% of the company’s stock.

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.