Truist Financial Corp Has $283,000 Stock Position in Commercial Metals Company $CMC

Truist Financial Corp lowered its holdings in shares of Commercial Metals Company (NYSE:CMC) by 3.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,787 shares of the basic materials company’s stock after selling 197 shares during the period. Truist Financial Corp’s holdings in Commercial Metals were worth $283,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. National Bank of Canada FI lifted its stake in Commercial Metals by 80.3% in the first quarter. National Bank of Canada FI now owns 548 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 244 shares during the last quarter. Signaturefd LLC grew its position in shares of Commercial Metals by 51.4% in the 2nd quarter. Signaturefd LLC now owns 890 shares of the basic materials company’s stock worth $44,000 after buying an additional 302 shares during the period. Wayfinding Financial LLC purchased a new stake in Commercial Metals during the 1st quarter valued at about $47,000. UMB Bank n.a. boosted its position in shares of Commercial Metals by 77.8% during the second quarter. UMB Bank n.a. now owns 1,394 shares of the basic materials company’s stock valued at $68,000 after buying an additional 610 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Commercial Metals by 21.2% in the 1st quarter. Fifth Third Bancorp now owns 1,595 shares of the basic materials company’s stock worth $73,000 after buying an additional 279 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CMC shares. Citigroup upgraded Commercial Metals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $60.00 to $65.00 in a research report on Friday. Morgan Stanley set a $57.50 price objective on Commercial Metals in a research report on Wednesday, June 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Commercial Metals in a research report on Wednesday, October 8th. Wolfe Research raised shares of Commercial Metals from a “peer perform” rating to an “outperform” rating in a report on Friday, June 20th. Finally, Zacks Research raised shares of Commercial Metals from a “hold” rating to a “strong-buy” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.75.

Commercial Metals Trading Up 3.7%

Shares of NYSE CMC opened at $57.39 on Friday. The company has a market cap of $6.42 billion, a price-to-earnings ratio of 75.51, a PEG ratio of 1.86 and a beta of 1.32. Commercial Metals Company has a fifty-two week low of $37.92 and a fifty-two week high of $64.53. The business’s 50 day moving average price is $57.86 and its 200-day moving average price is $51.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.00 and a current ratio of 2.78.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings results on Thursday, October 16th. The basic materials company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.32 by $0.05. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.10 billion. Commercial Metals had a net margin of 1.09% and a return on equity of 8.76%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 EPS. On average, sell-side analysts expect that Commercial Metals Company will post 3.09 earnings per share for the current year.

Commercial Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, October 30th. Commercial Metals’s dividend payout ratio (DPR) is presently 232.26%.

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.