Commercial Metals (NYSE:CMC) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its position in Commercial Metals (NYSE:CMC) by 18.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 177,924 shares of the basic materials company’s stock after selling 41,390 shares during the period. Russell Investments Group Ltd. owned approximately 0.15% of Commercial Metals worth $8,903,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Commercial Metals by 4.1% during the third quarter. Vanguard Group Inc. now owns 12,450,082 shares of the basic materials company’s stock worth $615,159,000 after buying an additional 487,792 shares during the period. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Commercial Metals by 26.7% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,506,247 shares of the basic materials company’s stock valued at $123,834,000 after purchasing an additional 527,709 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Commercial Metals by 32.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,385,435 shares of the basic materials company’s stock valued at $68,454,000 after purchasing an additional 335,926 shares in the last quarter. American Century Companies Inc. lifted its holdings in Commercial Metals by 2.8% in the third quarter. American Century Companies Inc. now owns 1,182,690 shares of the basic materials company’s stock worth $58,437,000 after purchasing an additional 32,217 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Commercial Metals by 31.3% during the 3rd quarter. AQR Capital Management LLC now owns 703,881 shares of the basic materials company’s stock worth $34,779,000 after buying an additional 167,865 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Insider Activity at Commercial Metals

In other Commercial Metals news, Chairman Barbara Smith sold 35,704 shares of the business’s 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 completion of the sale, the chairman now directly owns 36,196 shares of the company’s stock, valued at $2,095,024.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

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

Commercial Metals Stock Performance

Shares of CMC opened at $55.77 on Tuesday. Commercial Metals has a one year low of $39.85 and a one year high of $59.81. The company has a 50-day moving average of $55.49 and a two-hundred day moving average of $50.88. 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 stock has a market cap of $6.45 billion, a price-to-earnings ratio of 9.68 and a beta of 1.35.

Commercial Metals (NYSE:CMC) last announced its quarterly earnings data on Thursday, March 21st. The basic materials company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.05). Commercial Metals had a return on equity of 17.72% and a net margin of 8.09%. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the business posted $1.44 earnings per share. Commercial Metals’s revenue was down 8.4% on a year-over-year basis. On average, equities research analysts expect that Commercial Metals will post 5.34 earnings per share for the current year.

Commercial Metals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Monday, April 1st were paid a $0.18 dividend. This is a boost 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 dividend yield of 1.29%. Commercial Metals’s payout ratio is presently 12.50%.

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.