Bailard Inc. Sells 1,307 Shares of Commercial Metals Company $CMC

Bailard Inc. trimmed its stake in Commercial Metals Company (NYSE:CMC) by 15.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,100 shares of the basic materials company’s stock after selling 1,307 shares during the period. Bailard Inc.’s holdings in Commercial Metals were worth $347,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of CMC. Nuveen LLC bought a new stake in Commercial Metals during the first quarter valued at about $44,345,000. Pacer Advisors Inc. lifted its position in shares of Commercial Metals by 4,372.6% during the first quarter. Pacer Advisors Inc. now owns 759,484 shares of the basic materials company’s stock valued at $34,944,000 after buying an additional 742,503 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Commercial Metals by 86.1% in the 1st quarter. American Century Companies Inc. now owns 1,587,259 shares of the basic materials company’s stock valued at $73,030,000 after buying an additional 734,265 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Commercial Metals by 14.9% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 4,161,292 shares of the basic materials company’s stock valued at $191,461,000 after buying an additional 539,309 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Commercial Metals by 124.3% in the 1st quarter. Millennium Management LLC now owns 926,718 shares of the basic materials company’s stock worth $42,638,000 after buying an additional 513,630 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CMC. Morgan Stanley raised shares of Commercial Metals from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $57.50 to $68.00 in a research report on Friday, October 24th. Jefferies Financial Group set a $70.00 price objective on Commercial Metals and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. boosted their target price on Commercial Metals from $63.00 to $64.00 and gave the stock a “neutral” rating in a research note on Monday, October 20th. Citigroup upgraded Commercial Metals from a “neutral” rating to a “buy” rating and increased their price target for the company from $60.00 to $65.00 in a research note on Friday, October 17th. Finally, The Goldman Sachs Group raised their price target on Commercial Metals from $69.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Commercial Metals currently has a consensus rating of “Moderate Buy” and an average target price of $64.20.

Insider Transactions at Commercial Metals

In other Commercial Metals news, Director John R. Mcpherson purchased 1,722 shares of the stock in a transaction on Monday, October 20th. The shares were bought at an average cost of $58.09 per share, with a total value of $100,030.98. Following the completion of the acquisition, the director owned 6,722 shares in the company, valued at $390,480.98. This trade represents a 34.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.46% of the stock is owned by corporate insiders.

Commercial Metals Trading Down 1.1%

Commercial Metals stock opened at $58.90 on Friday. The stock has a 50-day moving average price of $58.81 and a 200 day moving average price of $53.91. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 77.50, a price-to-earnings-growth ratio of 1.94 and a beta of 1.34. Commercial Metals Company has a 52 week low of $37.92 and a 52 week high of $64.53. The company has a quick ratio of 2.03, a current ratio of 2.78 and a debt-to-equity ratio of 0.31.

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

Commercial Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, October 30th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, October 30th. Commercial Metals’s dividend payout ratio (DPR) is 94.74%.

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.