Skandinaviska Enskilda Banken AB publ Has $173,000 Stock Holdings in Commercial Metals Company $CMC

Skandinaviska Enskilda Banken AB publ decreased its stake in Commercial Metals Company (NYSE:CMC) by 87.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,021 shares of the basic materials company’s stock after selling 21,802 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Commercial Metals were worth $173,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CMC. Root Financial Partners LLC bought a new position in shares of Commercial Metals in the 3rd quarter valued at $25,000. SBI Securities Co. Ltd. increased its holdings in Commercial Metals by 282.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 692 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 511 shares in the last quarter. Spire Wealth Management raised its position in Commercial Metals by 42.4% in the third quarter. Spire Wealth Management now owns 615 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 183 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Commercial Metals by 84.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,550 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 708 shares in the last quarter. Finally, Amundi grew its holdings in shares of Commercial Metals by 13.3% during the first quarter. Amundi now owns 2,480 shares of the basic materials company’s stock worth $114,000 after purchasing an additional 291 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on CMC shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Commercial Metals in a report on Wednesday, January 21st. Morgan Stanley raised their price target on shares of Commercial Metals from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, January 9th. Wall Street Zen raised shares of Commercial Metals from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 28th. Citigroup increased their price objective on Commercial Metals from $65.00 to $85.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Commercial Metals in a report on Monday, October 27th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.70.

Commercial Metals Price Performance

Shares of NYSE CMC opened at $76.85 on Monday. The company has a market capitalization of $8.52 billion, a PE ratio of 19.81, a P/E/G ratio of 0.41 and a beta of 1.49. The company has a quick ratio of 3.70, a current ratio of 4.47 and a debt-to-equity ratio of 0.77. Commercial Metals Company has a twelve month low of $37.92 and a twelve month high of $84.87. The firm has a fifty day simple moving average of $75.31 and a 200 day simple moving average of $65.01.

Commercial Metals (NYSE:CMC) last issued its quarterly earnings results on Thursday, January 8th. The basic materials company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.29. Commercial Metals had a return on equity of 11.43% and a net margin of 5.46%.The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the business posted $0.78 EPS. The business’s revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts forecast that Commercial Metals Company will post 3.09 EPS for the current year.

Commercial Metals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Monday, January 19th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, January 16th. Commercial Metals’s payout ratio is presently 18.56%.

Insider Activity at Commercial Metals

In related news, Director Dennis V. Arriola acquired 2,000 shares of the stock in a transaction dated Tuesday, January 20th. The stock was bought at an average price of $74.69 per share, for a total transaction of $149,380.00. Following the purchase, the director directly owned 9,238 shares of the company’s stock, valued at $689,986.22. The trade was a 27.63% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer J. Durbin sold 25,050 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $79.97, for a total transaction of $2,003,248.50. Following the transaction, the insider directly owned 52,880 shares in the company, valued at approximately $4,228,813.60. This represents a 32.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.62% of the stock is currently owned by insiders.

Commercial Metals Profile

Commercial Metals Company (NYSE: CMC) is a leading global steel and metal recycler, manufacturer and fabricator based in Irving, Texas. The company operates an integrated network of scrap recycling facilities, electric arc furnace steel mills, metal fabrication plants and distribution centers. Through these operations, Commercial Metals collects and processes ferrous scrap to produce finished steel products and provides recycled metal to a variety of end markets.

In its steelmaking segment, CMC uses electric arc furnace technology to transform recycled scrap into reinforcing bar (rebar), merchant bar, coil and structural products.