US Bancorp DE Cuts Holdings in Commercial Metals Company (NYSE:CMC)

US Bancorp DE lessened its stake in Commercial Metals Company (NYSE:CMC) by 34.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,194 shares of the basic materials company’s stock after selling 5,943 shares during the period. US Bancorp DE’s holdings in Commercial Metals were worth $515,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its stake in Commercial Metals by 12.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,853 shares of the basic materials company’s stock worth $1,189,000 after buying an additional 2,846 shares in the last quarter. GAMMA Investing LLC grew its stake in Commercial Metals by 25.6% in the 1st quarter. GAMMA Investing LLC now owns 3,280 shares of the basic materials company’s stock worth $151,000 after buying an additional 669 shares in the last quarter. SG Americas Securities LLC grew its stake in Commercial Metals by 460.1% in the 1st quarter. SG Americas Securities LLC now owns 12,383 shares of the basic materials company’s stock worth $570,000 after buying an additional 10,172 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Commercial Metals by 2.5% in the 1st quarter. State of Alaska Department of Revenue now owns 13,316 shares of the basic materials company’s stock valued at $612,000 after purchasing an additional 325 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Commercial Metals by 9.5% in the 4th quarter. Bank of Montreal Can now owns 15,801 shares of the basic materials company’s stock valued at $784,000 after purchasing an additional 1,369 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Commercial Metals Trading Down 1.9%

Shares of CMC opened at $53.00 on Tuesday. The stock has a market capitalization of $5.93 billion, a P/E ratio of 170.98, a PEG ratio of 2.49 and a beta of 1.28. The company has a quick ratio of 2.00, a current ratio of 2.86 and a debt-to-equity ratio of 0.32. The firm has a fifty day simple moving average of $51.05 and a two-hundred day simple moving average of $48.16. Commercial Metals Company has a twelve month low of $37.92 and a twelve month high of $64.53.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings results on Monday, June 23rd. The basic materials company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.11). Commercial Metals had a net margin of 0.48% and a return on equity of 7.45%. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the previous year, the company earned $1.02 EPS. The company’s quarterly revenue was down 2.8% on a year-over-year basis. On average, research analysts anticipate that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Monday, June 30th were issued a $0.18 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.72 annualized dividend and a yield of 1.4%. Commercial Metals’s dividend payout ratio is 232.26%.

Analyst Upgrades and Downgrades

CMC has been the subject of a number of research reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Commercial Metals in a research note on Friday, June 20th. Wolfe Research raised shares of Commercial Metals from a “peer perform” rating to an “outperform” rating in a research note on Friday, June 20th. Morgan Stanley set a $57.50 price objective on shares of Commercial Metals in a research note on Wednesday, June 25th. JPMorgan Chase & Co. upped their price objective on shares of Commercial Metals from $52.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $55.00 price objective (down previously from $57.00) on shares of Commercial Metals in a research note on Tuesday, June 24th. Five 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, the stock has a consensus rating of “Hold” and a consensus target price of $57.50.

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.