Wealthspire Advisors LLC Sells 1,729 Shares of Commercial Metals (NYSE:CMC)

Wealthspire Advisors LLC reduced its position in Commercial Metals (NYSE:CMC) by 12.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,473 shares of the basic materials company’s stock after selling 1,729 shares during the period. Wealthspire Advisors LLC’s holdings in Commercial Metals were worth $619,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Heck Capital Advisors LLC bought a new position in shares of Commercial Metals in the 4th quarter worth $34,000. V Square Quantitative Management LLC lifted its holdings in shares of Commercial Metals by 60.7% in the 4th quarter. V Square Quantitative Management LLC now owns 707 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 267 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Commercial Metals by 56.6% in the 4th quarter. GAMMA Investing LLC now owns 2,611 shares of the basic materials company’s stock worth $130,000 after purchasing an additional 944 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Commercial Metals by 10.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,784 shares of the basic materials company’s stock worth $138,000 after purchasing an additional 254 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in shares of Commercial Metals in the 4th quarter worth $134,000. 86.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CMC has been the topic of a number of recent research reports. Morgan Stanley cut their target price on Commercial Metals from $65.00 to $56.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. BNP Paribas cut Commercial Metals from an “outperform” rating to a “neutral” rating in a research note on Friday, January 3rd. Jefferies Financial Group dropped their price objective on Commercial Metals from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. BMO Capital Markets dropped their price objective on Commercial Metals from $62.00 to $58.00 and set a “market perform” rating on the stock in a research note on Friday, January 3rd. Finally, UBS Group upgraded Commercial Metals from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $56.00 to $54.00 in a research note on Friday, January 10th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Commercial Metals currently has an average rating of “Hold” and a consensus target price of $62.33.

Commercial Metals Trading Down 0.1 %

Shares of Commercial Metals stock opened at $50.00 on Wednesday. Commercial Metals has a 1 year low of $45.50 and a 1 year high of $64.53. The firm has a market cap of $5.68 billion, a PE ratio of 45.05, a P/E/G ratio of 2.62 and a beta of 1.18. The stock has a fifty day moving average price of $49.97 and a 200-day moving average price of $53.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.76 and a quick ratio of 1.94.

Commercial Metals (NYSE:CMC) last announced its earnings results on Monday, January 6th. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. Commercial Metals had a return on equity of 9.88% and a net margin of 1.70%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the firm posted $1.49 EPS. The business’s revenue was down 4.7% compared to the same quarter last year. Equities research analysts anticipate that Commercial Metals 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, January 30th. Stockholders of record on Thursday, January 16th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.44%. The ex-dividend date was Thursday, January 16th. Commercial Metals’s dividend payout ratio is presently 64.86%.

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.