Commercial Metals (NYSE:CMC) Shares Sold by Duality Advisers LP

Duality Advisers LP lessened its stake in Commercial Metals (NYSE:CMC) by 32.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,192 shares of the basic materials company’s stock after selling 3,025 shares during the quarter. Duality Advisers LP’s holdings in Commercial Metals were worth $310,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMC. HM Payson & Co. acquired a new stake in Commercial Metals during the third quarter worth about $25,000. Daiwa Securities Group Inc. acquired a new stake in Commercial Metals during the fourth quarter worth about $30,000. Headlands Technologies LLC acquired a new stake in Commercial Metals during the third quarter worth about $51,000. Planned Solutions Inc. bought a new position in Commercial Metals in the 4th quarter worth about $73,000. Finally, Adirondack Trust Co. bought a new stake in shares of Commercial Metals during the third quarter valued at approximately $84,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insiders Place Their Bets

In other Commercial Metals news, Chairman Barbara Smith sold 35,704 shares of Commercial Metals stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $57.88, for a total value of $2,066,547.52. Following the transaction, the chairman now owns 36,196 shares in the company, valued at $2,095,024.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last 90 days, insiders have sold 119,489 shares of company stock worth $6,371,781. 1.00% of the stock is owned by insiders.

Commercial Metals Price Performance

NYSE CMC opened at $53.47 on Friday. Commercial Metals has a 12 month low of $39.85 and a 12 month high of $59.81. The company has a debt-to-equity ratio of 0.27, a current ratio of 4.19 and a quick ratio of 2.69. The firm has a market capitalization of $6.19 billion, a PE ratio of 9.28 and a beta of 1.33. The company’s 50 day simple moving average is $55.41 and its 200 day simple moving average is $50.32.

Commercial Metals (NYSE:CMC) last posted its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.05). The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.80 billion. Commercial Metals had a net margin of 8.09% and a return on equity of 17.72%. Commercial Metals’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.44 EPS. As a group, equities research analysts forecast that Commercial Metals will post 5.34 EPS for the current fiscal year.

Commercial Metals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Monday, April 1st were given a $0.18 dividend. This is a positive change from Commercial Metals’s previous quarterly dividend of $0.16. The ex-dividend date was Thursday, March 28th. This represents a $0.72 annualized dividend and a yield of 1.35%. Commercial Metals’s payout ratio is 12.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CMC shares. UBS Group started coverage on Commercial Metals in a report on Tuesday, January 16th. They set a “buy” rating and a $65.00 price target on the stock. StockNews.com cut Commercial Metals from a “buy” rating to a “hold” rating in a report on Thursday, April 18th. Finally, BMO Capital Markets lifted their price target on Commercial Metals from $52.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, March 22nd.

Commercial Metals 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.